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.

Freedom is the quality of being free from the control of regulators and tax collectors. If I want to be free their control, I must not impose controls on others.

The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums.

There is no escape from the vast imbalances in international trade and finance. They will be corrected, sooner or later, by the inexorable principles that govern human action.

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.

Redistribution divided society into two social classes: the beneficiaries of transfer, who are calling for ever more; and the victims, who submit unwillingly. It could hardly fail to injure social peace and harmony.

Instead of safeguarding truth and honesty, the state then tends to become a major source of insincerity and mendacity.