Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.

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.

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.

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.

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.

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.

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.