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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
Benefits
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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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Peace is the natural state of man, war the temporary repeal of reason and virtue.
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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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Sound money and free banking are not impossible they are merely illegal.
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Few policies are more calculated to destroy the existing basis of a free society than the debauching of its currency. And few tasks, if any, are more important to the champion of freedom than creation of a sound monetary system.
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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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Inflationism is a dreadful cancer that is gnawing at the backbone of the civilized order.
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No other commodity enjoys as much universal acceptability and marketability as gold.
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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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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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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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Every businessman enjoying customer patronage, whether he be a baker, banker, or barber is conferring a public benefit, raising production, and reducing unemployment businessmen earn their livelihood by producing products and rendering services where ever they are needed.
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The gold standard, in one form or another, will prevail long after the present rash of national fiats is forgotten or remembered only in currency museums.
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