He's stating that that was compatible with what he wanted. He's not claiming in that essay that we should go back to it. He doesn't want democracy, that much is apparent, because he thinks it's incompatible with freedom on a long time scale.
So what you're saying is that even though he's that women's suffarage isn't compatible with freedom, 1920s style "capitalist democracy" that removes the vote from people is compatible with freedom, in one of the most pro freedom platforms out there (the Cato institute) somehow isn't actually pushing for those positions?
I'm not sure that I'm capable of the mental gymnastics to get there.
He's stating that that was compatible with what he wanted. He's not claiming in that essay that we should go back to it. He doesn't want democracy, that much is apparent, because he thinks it's incompatible with freedom on a long time scale.