If A Government Resorts To Inflation, That

The Sad Fact Is That Today Most Of The Heads Of Big Businesses In America Have Become So Confused Or Intimidated That, So Far From Carrying The Free Market To Argument To The Enemy, They Fail To Defend Themselves Adequately Even When Attacked.

The Monetary Managers Are Fond Of Telling Us That They Have Substituted 'responsible Money Management' For The Gold Standard. But There Is No Historic Record Of Responsible Paper Money Management ... The Record Taken, As A Whole Is One Of Hyperinflation, Devaluation And Monetary Chaos.

It Is Possible To Increase Paper-money Income To Any Amount By Debasing The Currency. But Real Income Can Only Be Increased By Working Harder Or More Efficiently, Saving More, Investing More, And Producing More.

Short-sighted And Impatient Efforts To Wipe Out Poverty By Severing The Connection Between Effort And Reward Can Only Lead To The Growth Of A Totalitarian State, And Destroy The Economic Progress That This Country Has So Dearly Bought.

Liberty Is The Essential Basis, The Sine Qua Non, Of Morality.