Gold was not selected arbitrarily by governments to be the monetary standard. Gold had developed for many centuries on the free market as the best money; as the commodity providing the most stable and desirable monetary medium.

The more the government intervenes to delay the market's adjustment, the longer and more grueling the depression will be, and the more difficult will be the road to complete recovery.

Rights might be universal but their enforcement must be local.

Falling prices through increased production is a wonderful long-run tendency of untrammeled capitalism.

The natural tendency of government, once in charge of money, is to inflate and to destroy the value of the currency.

Money is the general medium of exchange. It is the thing for which all other goods are traded, the means of final payment for such goods on the market.

It is no crime to be ignorant of economics, which is, after all, a specialized discipline and one that most people consider to be a ‘dismal science.’ But it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.