Under the gold standard gold is money and money is gold. It is immaterial whether or not the laws assign legal tender quality only to gold coins minted by the government.

Every step by which an individual substitutes concerted action for isolated action results in an immediate and recognizable improvement in his conditions. The advantages derived from peaceful cooperation and division of labor are universal.

Wars of aggression are popular nowadays with those nations convinced that only victory and conquest could improve their material well-being.

Liberalism must be intolerant of every sort of intolerance.

Economically considered, war and revolution are always bad business.

The situation of having to belong to a state to which one does not wish is no less onerous if it is the result of an election than if one must endure it as the consequence of a military conquest.

The aim of all struggles for liberty is to keep in bounds the armed defenders of peace, the governors and their constables. The political concept of the individual's freedom means: freedom from arbitrary action on the part of the police power.