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"That is why I decline to recognize the meremultimillionaire, the man of mere wealth, as an asset of value to any country;and especially as not an asset to my own country. If he has earned or uses hiswealth in a way that makes him a real benefit, of real use- and such is often thecase- why, then he does become an asset of real worth."
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"When a country has substituted credit money or fiat money for metallic money, because the legal equating of the over-issued paper and the metallic money sets in motion the mechanism described by Gresham's Law, it is often asserted that the balance of payments determines the rate of exchange. But this also is a quite inadequate explanation. The rate of exchange is determined by the purchasing power possessed by a unit of each kind of money."
"I saw the poverty, I say the prosperity. Both have fundamental problems."
"They did not suffer shipwreck because the entrepreneurs were not public-spirited, as the socialist-etatistic legend has it. They were bound to fail because the economic organization based upon division of labour and private property in the means of production can function only so long as price-determination in the market is free."
"The mistake in the argument of those who suppose that a variation in the quantity of money results in an inversely proportionate variation in its purchasing power lies in its starting-point. If we wish to arrive at a correct conclusion, we must start with the valuations of separate individuals; we must examine the way in which an increase or decrease in the quantity of money affects the value-scales of individuals, for it is from these alone that variations in the exchange-ratios of goods proceed."
"It has been proposed that monetary liabilities should be settled in terms of gold and not according to their nominal amount. If this proposal were adopted, for each mark that had been borrowed that sum would have to be repaid that could at the time of repayment buy the same weight of gold as one mark could at the time when the debt contract was entered into. The fact that such proposals are now put forward and meet with approval shows that etatism has already lost its hold on the monetary system and that inflationary policies are inevitably approaching their end. Even only a few years ago, such a proposal would either have been ridiculed or else branded as high treason."
"If the State uses this power systematically in order to force the community to accept a particular sort of money whose employment it desires for reasons of monetary policy, then it is actually carrying through a measure of monetary policy. The States which completed the transition to a gold standard a generation ago, did so from motives of monetary policy. They gave up the silver standard or the credit-money standard because they recognized that the behaviour of the value of silver or of credit money was unsuited to the economic policy they were following."
"The attempt to restrain prices within limits has to be given up. A government that sets out to abolish market prices is inevitably driven towards the abolition of private property."
"It is the consumers who make poor people rich and rich people poor."
"If you despise increase, you are a strange personality in the society."
Explore more quotes by Theodore Roosevelt
"Wars are, of course, as a rule to be avoided; but they are far better than certain kinds of peace."
"The leaders of thought and of action grope theirway forward to a new life, realizing, sometimes dimly, sometimes clear-sightedly,that the life of material gain, whether for a nation or an individual, is of valueonly as a foundation, only as there is added to it the uplift that comes fromdevotion to loftier ideals."
"We demand that big business give people a square deal in return we must insist that when anyone engaged in big business honesdy endeavors to do right he shall himself be given a square deal."
"Our fight is a fundamental fight against both of the old corrupt party machines, for both are under the dominion of the plunder league of the professional politicians who are controlled and sustained by the great beneficiaries of privilege and reaction."
"Peace is normally a great good, and normally it coincides with righteousness, but it is righteousness and not peace which should bind the conscience of a nation as it should bind the conscience of an individual; and neither a nation nor an individual can surrender conscience to another's keeping."
"Books are all very well in their way, and we love them at Sagamore Hill; but children are better than books."
"The credit belongs to those who are actually in the arena, who strive valiantly; who know the great enthusiasums, the great devotions, and spend themselves in a worthy cause; who at best know the triumph of high achievement; and who, at worst, if they fail, fail while daring greatly, so that their place shall never be with those cold and timid souls who know neither victory nor defeat."
"We cordially believe in the rights of property. We think that normally and in the long run the rights of humanity, coincide with the rights of property... But we feel that if in exceptional cases there is any conflict between the rights of property and the rights of man, then we must stand for the rights of man."
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