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.

To live beyond your means today is to live below them tomorrow.

The social and racial conflict, which springs from the redistribution ideology, may deepen as economic output is shrinking and transfer 'entitlements cause budget deficits to soar. The U.S. dollar, which has become a mere corollary of government finance, is likely to survive the soaring deficits.

Under the influence of collectivist ideologies, many politicians and journalists are ever eager to strike at successful entrepreneurs who earn much more than they do. It is difficult to ascertain their motives; it can be simple envy which consumes many men, or it can be economic ignorance.

In a world dependent on international trade and commerce, and staggering under a heavy load of international debt, no policy is more destructive than protectionism. It cuts off markets, eliminates trade, causes unemployment in the export industries all over the world, depresses the prices of export commodities, especially farm products of the United States. It is the crowning folly of government intervention.

Political power intoxicates the best hearts. No man is wise enough, nor good enough, to be trusted with much political power.

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