To reverse the trend and reduce the role of government in our lives, and thus alleviate the government deficit and inflation pressures, is a giant educational task. The social and economic ideas that gave birth to the transfer system must be discredited and replaced with old values of individual independence and self-reliance. The social philosophy of individual freedom and unhampered private property must again be our guiding light.

The paper standard is self-destructive.

Unfortunately, it is not in the power of government to make everyone more prosperous. Government can only raise the income of one person by taking from another.

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.

War cannot be driven out by war, for the use of evil breeds more evil, hostility more hostility, and the use of force more force.

Most politicians are ever eager to regulate industrial and commercial activity and strike at the economic elite with confiscatory taxation. Unfortunately, regulation and taxation tend to hamper economic activity, inhibit productivity, and depress levels of living.

Since there is no orderly way to liquidate the federal debt, we must brace for a payment crisis.