Your booklet containing "The Faith of the Freeman " is written with such sincerity in the cause of private enterprise, that I assume you will welcome comments. I hang my hat on this quotation: "In terms of current labels, the Freeman will be at once radical, liberal, conservative and reactionary. It will be radical because it will go to the roots of questions."

I wonder if you will go to the root of the money question. In your recitation of the proper functions of government, you do not mention money control. No doubt you take that for granted, as your readers probably do also. I do not imply that you approve of the monetary policies of the present and past administrations. But you probably have not posed the question whether the state can, under any conditions, provide a monetary system that is not adverse to a free economy. Yet so long as you do not tackle this fundamental question, your other soundings will be immaterial.

You denounce, and rightly, such interventions as "tariffs, quotas, exchange control, bilateral treaties, import and export prohibitions or restrictions, government price supports, subsidies, or loans to favored industries", etc. This constitutes your credo as a professed friend of private enterprise. Like all other "friends," no darts are aimed at the political presumption of monetary control. This precinct you hold sanctuary.

With the monetary system socialized, the state can yield on all your protests, and still the economy will be progressively socialized by diluting the money supply with issues of spurious money. The state can even abolish all formal tax levies, thus creating the appearance of a taxless Utopia and giving society a free ride to its doom. You are, in fact, spreading the opium unconsciously, as you state: "It is imperative that those who already believe in a market economy, limited government, and individual freedom should have the constant encouragement of knowing that they do not stand alone, that there is high hope for their cause."

Thus, within the purview of your iconoclasm, leaving untouched the superstition of the State's most stupefying icon, the more success that attends your efforts, the more you contribute toward the vulnerability of private enterprise, which you undertake to defend.

The universal attitude of private enterprisers and economists is to attribute the power and duty to the State of supplying the monetary medium to the economy, reserving only the right to bellyache over the consequences. This shows that at bottom, our whole society is tainted with paternalism. The blame for the political perversion of the monetary system must be placed upon society. For it has tried to escape the task of rationalizing the subject and has thrust the problem upon the Great White Father, who is just as ignorant as to what constitutes money but is, of course, glad to grasp power.

The monetary system must be alienated from the state and its control assumed by private enterprise. To accomplish this, businessmen must be roused from their private "initiative," and journalists can serve the public interest by ringing the alarm, not by soothing words.