“Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.” StatesGovernmentPoliticalCertainResultsMoneyExistencePowerEconomicProductsAuthorityEconomicsIndependentInventionCommodityLegislationSanctions Author:Carl Menger
“If, however, a government refrains from regulations and allows matters to take their course, essential commodities soon attain a level of price out of the reach of all but the rich, the worthlessness of the money becomes apparent, and the fraud upon the public can be concealed no longer.” IfsMatterGovernmentCoursesLevelsMoneyRichEssentialsEconomicsSocialismDeceptionFraudRegulationCommodityBankingTaxationConcealedRefrainWorthlessness Book:The Economic Consequences of the Peace: The classic text on the Treaty of Versailles and post war Europe Source: The Economic Consequences of the Peace: The classic text on the Treaty of Versailles and post war Europe
“Being the dependents of the general government, and looking to its treasury as the source of all their emoluments, the state officers, under whatever names they might pass and by whatever forms their duties might be prescribed, would in effect be the mere stipendiaries and instruments of the central power.” StatesGovernmentMightFormNamesMoneyPowerEffectsDutySourceInstrumentsMereOfficersTreasury Author:Andrew Jackson