The circulating medium being issued only by those who labor, they would suddenly become invested with all the wealth and all the power; and those who did not labor, be they ever so rich now, would as suddenly become poor and powerless.

Liberty, then, is the sovereignty of the individual, and never shall man know liberty until each and every individual is acknowledged to be the only legitimate sovereign of his or her person, time, and property, each living and acting at his own cost.

It is dangerous to understand new things too quickly.

This circulating medium has a natural tendency to lessen by degrees the value and the use of money, and finally to render it powerless; and consequently to sweep away all the crushing masses of fraud, iniquity, cruelty, corruption and imposition that are built upon it.

It goes to establish a just and permanent principle of trade which puts an end to all serious fluctuations in prices and consequently, to all the insecurity and ruin which these fluctuations produce; and to build up those who are already ruined.

Governments commit more crimes upon persons and property and contribute more to their insecurity than all [the] criminals put together.

Liberty, then, is the SOVEREIGNTY OF THE INDIVIDUAL.