spook which "lives by the grace of law" and it "becomes 'mine' only by effect of the law". In other words, private property exists purely "through the protection of the State, through the State's grace". Recognising its need for state protection, Stirner is also aware that "[i]t need not make any difference to the 'good citizens' who protects them and their principles, whether an absolute King or a constitutional one, a republic, if only they are protected. And what is their principle, whose protector they always 'love'? Not that of labour", rather it is "interest-bearing possession [...] labouring capital, therefore [...] labour certainly, yet little or none at all of one's own, but labour of capital and of the – subject labourers". Pierre-Joseph Proudhon was involved with the Lyons mutualists and later adopted the name to describe his own teachings. In What Is Mutualism?, Clarence Lee Swartz gives his own account of the origin of the term, claiming that "[t]he word "mutualism" seems to have been first used by John Gray, an English writer, in 1832". Proudhon opposed government privilege that protects capitalist, banking and land interests as well as the accumulation or acquisition of property (and any form of coercion that led to it) which he believed hampers competition and keeps wealth in the hands of the few. Proudhon favoured a right of individuals to retain the product of their labour as their own property, but believed that any property beyond that which an individual produced and could possess was illegitimate. He thus saw private property as both essential to liberty and a road to tyranny, the former when it resulted from labour and was required for labour and the latter when it resulted in exploitation (profit, interest, rent and tax). He generally called the former "possession" and the latter "property". For large-scale industry, he supported workers associations to replace wage labour and opposed the ownership of land. Josiah Warren is widely regarded as the first American anarchist and the four-page weekly paper he edited during 1833, The Peaceful Revolutionist, was the first anarchist periodical published. Warren termed the phrase "Cost the limit of price", with "cost" here referring not to monetary price paid but the labor one exerted to produce an item. Therefore, "[h]e proposed a system to pay people with certificates indicating how many hours of work they did. They could exchange the notes at local time