The gold standard makes the money's purchasing power independent of the changing, ambitions and doctrines of political parties and pressure groups. This is not a defect of the gold standard; it is its main excellence.

The philosophy of protectionism is a philosophy of war.

Whoever wants peace among nations must seek to limit the state and its influence most strictly.

In reality no food is valued solely for its nutritive power and no garment or house solely for the protection it affords against cold weather and rain.... the demand for goods is widely influenced by metaphysical, religious, and ethical considerations, by aesthetic value judgments, by customs, habits, prejudice, tradition, changing fashions, and many other things.

A higher standard of living also brings about a higher standard of culture and civilization.

Government and state can never be perfect because they owe their raison d'être to the imperfection of man and can attain their end, the elimination of man's innate impulse to violence, only by recourse to violence, the very thing they are called upon to prevent.

Public works are not accomplished by the miraculous power of a magic wand. They are paid for by funds taken away from the citizens.