Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system.

The paper standard is self-destructive.

When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.

Unfortunately, it is not in the power of government to make everyone more prosperous. Government can only raise the income of one person by taking from another.

The government transfers income and wealth according to the rules of politics, which make politicians the primary beneficiaries of the system, and the poor and needy the primary victims.

When all the mysticism is stripped away, the people who comprise the government (the legislators, administrators, judges, and policemen), are guided by human interests, desires, beliefs, notions, and prejudices, just like other people. They have neither superhuman wisdom nor extraordinary virtue.

For more than two thousand years gold's natural qualities made it man's universal medium of exchange. In contrast to political money, gold is honest money that survived the ages and will live on long after the political fiats of today have gone the way of all paper.