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Happily for their designs, the New Deal physicians found the patient in a state of economic pain, extreme but not fatal, and proceeded to administer imported narcotics, all habit forming, such as: (1) Repudiation of the U.S.Treasury's promises to pay. (2) Confiscation of the people's gold by trickery. (3) Debasement of the currency. (4) Deliberate inflation. (5) Spoilation of the savers, whose little rainy-day hoards melted away. (6) Deficit spending to create buying power ,by conjury. (7) Monetization of debt. (8) The doctrine of a planned economy. (9) A scheme of taxation...
Description
..., class subsidies and Federal grants-in-aid designed ostensibly to redistribute the national wealth for social justice, but calculated in fact to reduce millions of citizens to subservience, to bring forty-eight sovereign states to the status of provinces and to create in the executive principle a supreme government with extensive new powers, including the power to make its own laws by simply publishing from its bureaus rules and regulations having the force of law, disobedience punishable by fine or imprisonment. Thus the Welfare State was built. The facade was magnificent; the cornerstone rested on quicksand; the moral cost of it may be reckoned in terms such as these: If the great Government of the United States were a private corporation no bank would take its name on a piece of paper, because it has cynically repudiated the words engraved upon its bonds. The dollar, which was long the most honored piece of money in the world, became an irredeemable scrap of paper, with no certain value.
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