If the practice persists of covering government deficits with the issue of notes, then the day will come without fail, sooner or later, when the monetary systems of those nations pursuing this course will break down completely. The purchasing power of the monetary unit will decline more and more, until finally it disappears completely.

It is necessary to curb the power of government. This is the task of all constitutions, bills of rights and laws. This is the meaning of all struggles which men have fought for liberty.

Experience shows that nothing is operated with less economy and with more waste of labor and material of every kind than public services and undertakings. Private enterprise on the other hand naturally induces the owner to work with the greatest economy in his own interest.

Our whole civilization rests on the fact that men have always succeeded in beating off the attack of the re-distributors.

What governments call international monetary cooperation is concerted action for the sake of credit expansion.

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.

Government force is derived from the sum of the physical force each citizen could exert which by one citizen himself would be ineffective, but when summed from the force of all the area's citizens indeed composes a power no citizen or group can withstand. That force is then rightly but justly to be used against those who violate the foundation pillars of freedom.