Murray Rothbard Quotes
I see a great future for gold and silver coins as the currency people may increasingly turn to when paper currencies begin to disintegrate.
Rothbard, Murray N. Making Economic Sense. Ludwig von Mises Institute, 1995.
There has always been a fear of inflation and currency debasement by governments. Since ancient times, rulers issued coins and when they were made of cheap metals like copper or iron, the ruler could mint as much as he wanted and when he did so the value went down. By using only precious metals, gold and silver, for coins, there would be a natural restraint on government. Garfield was one of those who believed that we should always have money of gold and silver. The United States would use that principle for the next century even backing its paper money with gold and silver. In the Nixon administration the United States abandoned the gold standard. Today, it is the ability of a country to produce things that maintains value of paper money which has been supplanted in many cases by electronic money.
The American Revolution was a trying time, not only militarily but in just about every other way as well. Washington was quite pessimistic in 1778 as this quotation demonstrates. But it was to get worse. See {624230}. And the rapacity even extended to war profiteering. {624227}.
Murray Newton Rothbard was an American heterodox economist of the Austrian School, economic historian and political theorist. Rothbard was the founder and leading theoretician of anarcho-capitalism, a staunch advocate of historical revisionism and a central figure in the 20th-century American libertarian movement. He wrote over twenty books on political theory, revisionist history, economics, and other subjects.
