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The transfer society is forever testing the bounds of patience of taxpayers. Having reached the limit and still facing loud demands for more benefits, it resorts to deficit financing.

Hans F. Sennholz

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Hans F. Sennholz
Society
Demands
Transfers
Stills
Bounds
Resorts
Still
Loud
Taxpayers
Patience
Deficit
Benefits
Testing
Limits
Facing
Demand
Limit
Transfer
Forever
Reached
Financing

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When individual enterprise is free and unhampered, profit-and-loss calculations set precise limits to a businessman's temptations to expand his services... a government valuable they may be, have no market price and, therefore, cannot be subjected to profit-and-loss accounting.
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A monetary order created and managed by politicians and officials is bound to disappoint.
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A government debt is a government claim against personal income and private property - an unpaid tax bill.
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Political power intoxicates the best hearts. No man is wise enough, nor good enough, to be trusted with much political power.
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No other commodity enjoys as much universal acceptability and marketability as gold.
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Modern government has become a universal transfer agency that utilizes the political process for distributing vast measures of income and wealth. It preys on millions of victims in order to allocate valuable goods and services to its beneficiaries.
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The government transfers income and wealth according to the rules of politics, which make politicians the primary beneficiaries of the system, and the poor and needy the primary victims.
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The history of fiat money is little more than a register of monetary follies and inflations. Our present age merely affords another entry in this dismal register.
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Peace is the natural state of man, war the temporary repeal of reason and virtue.
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Government is rather ill-suited and poorly equipped to alleviate the plight of the poor. It lacks moral rules or standards, and is devoid of basic principles in economic and social matters.
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When all the mysticism is stripped away, the people who comprise the government (the legislators, administrators, judges, and policemen), are guided by human interests, desires, beliefs, notions, and prejudices, just like other people. They have neither superhuman wisdom nor extraordinary virtue.
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Sound money and free banking are not impossible they are merely illegal.
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To live beyond your means today is to live below them tomorrow.
Hans F. Sennholz
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Redistribution divided society into two social classes: the beneficiaries of transfer, who are calling for ever more and the victims, who submit unwillingly. It could hardly fail to injure social peace and harmony.
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Envy is more irreconcilable than hate. It is the most corroding of all political vices and also a great power in our land. The friends of freedom are content to be envied, but envy not.
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Unfortunately, it is not in the power of government to make everyone more prosperous. Government can only raise the income of one person by taking from another.
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The popular notion that an increase in the stock of money is socially and economically beneficial and desirable is one of the great fallacies of our time.
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Every individual is a potential gold buyer, although he may not need the gold. It may be added to the store of personal wealth, and passed from generation to generation as an object of family wealth. There is no other economic good as marketable as gold.
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Inflationism is a dreadful cancer that is gnawing at the backbone of the civilized order.
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