Is this money well spent? This is taxpayer money, it is going to be adding to the deficit short term and if we can't justify it, then we're not going to spend tens or hundreds of billions of dollars, just to make somebody happy, if it's not good for the economy.
So many people of wealth understand much more about making and saving money than about using and enjoying it. They fail to live because they are always preparing to live.
This is Wall Street, and today is important. Because tomorrow, July 4th, I intended to make my first million dollars--an excitingday in a man's life. The enterprise was slightly illegal.
Deficit spending is simply a scheme for the 'hidden' confiscation of wealth. Gold stands in the way of this insidious process. It stands as a protector of property rights.
Trade it may help, society extend,
But lures the Pirate, ant corrupts the friend:
It raises armies in a nation's aid,
But bribes a senate, and the land's betray'd.
Money nowadays is money; money brings office; money gains friends; everywhere the poor man is down.
[Lat., In pretio pretium nunc est; dat census honores,
Census amicitias; pauper ubique jacet.]
Money is a sort of instinct. It's a sort of property of nature in a person to make money. It's nothing you do. It's no trick you play. It's a sort of permanent accident of your own nature; once you start, you make money, and you go on. . . But you've got to begin. . . You've got to get in. You can do nothing if you are kept outside. You've got to beat your way in. Once you've done that, you can't help it!
A dowried wife, friends, beauty, birth, fair fame, These are the gifts of money, heavenly dame: Be but a moneyed man, persuasion tips Your tongue, and Venus settles on your lips.
The policy of letting things alone, in the practical sense that the Government should never interfere with business or go into business itself, is called Laisser-faire by economists and politicians. It has broken down so completely in practice that it is now discredited; but it was all the fashion in politics a hundred years ago, and is still influentially advocated by men of business and their backers who naturally would like to be allowed to make money as they please without regard to the interest of the public.
Money alone is only a mean; it presupposes a man to use it. The rich man can go where he pleases, but perhaps please himself nowhere. He can buy a library or visit the whole world, but perhaps has neither patience to read nor intelligence to see.... The purse may be full and the heart empty. He may have gained the world and lost himself; and with all his wealth around him ... he may live as blank a life as any tattered ditcher.
Welles and I differed, however, in our interpretation of the results of the Munich Conference, he being optimistic, I skeptical. In a radio address on October 3, several days after the conference, in which he described the steps taken by the United States Government just prior to Munich, he said that today, perhaps more than at any time during the past two decades, there was presented the opportunity for the establishment by the nations of the world of a new world order based upon justice and upon law. It seemed to me that the colors in the picture were much darker.