It is better that a man should tyrannize over his bank balance than over his fellow-citizens.

By this means (fractional reserve banking) government may secretly and unobserved, confiscate the wealth of the people, and not one man in a million will detect the theft.

When the accumulation of wealth is no longer of high social importance, there will be great changes in the code of morals.

The considerations upon which expectations of prospective yields are based are partly existing facts which we can assume to be known more or less for certain, and partly future events which can only be forecasted with more or less confidence.

An investor who proposes to ignore near-term market fluctuations needs greater resources for safety and must not operate on so large a scale, if at all, with borrowed money.

The ideas of economists and political philosophers, both when they are right and when they are wrong, are more powerful than is generally understood. Indeed, the world is ruled by little else.

Once we allow ourselves to be disobedient to the test of an accountant's profit, we have begun to change our civilization.