Commerce flourishes by circumstances, precarious, transitory, contingent, almost as the winds and waves that bring it to our shores.

The first panacea for a mismanaged nation is inflation of the currency; the second is war. Both bring a temporary prosperity; both bring a permanent ruin. But both are the refuge of political and economic opportunists.

Commerce is a game of skill which everyone cannot play and few can play well.

But while they prate of economic laws, men and women are starving. We must lay hold of the fact that economic laws are not made by nature. They are made by human beings.

Never spend your money before you have earned it.

People do not understand what a great revenue economy is.

Economic growth without social progress lets the great majority of people remain in poverty, while a privileged few reap the benefits of rising abundance.

Mere parsimony is not economy. Expense, and great expense, may be an essential part in true economy.

If all the economists were laid end to end, they would not reach a conclusion.

Men cannot not live by exchanging articles, but producing them. They live by work not trade.