If we cannot return to fiscal integrity because the public prefers profusion and prodigality over balanced budgets, we cannot escape paying the price, which is ever lower incomes and standards of living for all.

Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.

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 transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

In expectation of his demise, a successful businessman may sell out to his competitors to prepare his estate with readily marketable securities, such as U.S. Treasury bonds. The confiscatory death tax eliminates many family enterprises and promotes the growth of giant corporations.

Peace is the natural state of man, war the temporary repeal of reason and virtue.

The gold standard sooner or later will return with the force and inevitability of natural law, for it is the money of freedom and honesty.