The paper standard is self-destructive.

Every businessman enjoying customer patronage, whether he be a baker, banker, or barber is conferring a public benefit, raising production, and reducing unemployment; businessmen earn their livelihood by producing products and rendering services where ever they are needed.

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.

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.

Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.

The paper standard is self-destructive.

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.