August

American Money: Past, Present and Future Charles E. Weber 479 The rapid monetary expansion of the past 15 years can be curbed if there is a iNill. Work and Liberty Clarence B. Carson 485 The modern disparagementof the "work ethic" is a.campaignagainst indiyidualgrowth and fulfillment-a campaign against civilization and. liberty. In Defense of Apathy Thomas W. Hazlett 495 "Mind Your Own Business" is a proper political slogan for free men in a free land. A New MessageIV. Comments on The Bill of Rights Jackson Pemberton 498 Words of courage and counsel from the heartsof the FoundingFathersto theirchildrenin a troubled nation. Book Reviews: 506 "Plain Talk" edited by Isaac Don Levine' "A Gang of Pecksniffs" by H.L. Mencken "No Land Is an Island: Individual Rights and GovernmentControl of Land Use" by various authors "Other People's Property" by Bernard H. Siegan Anyone wishing to communicatewith authors may send first-class mail in care of THE FREEMAN for forwarding.

the Freeman A MONTHLY JOURNAL OF IDEAS ON LIBERTY IRVINGTON-ON-HUDSON. N. Y 10533 TEL: (914) 591-7230 LEONARD E. READ PAUL L. POIROT President, Foundation for Economic Education Managing Editor THE FREEMAN is published monthly by the Foundation for Economic Education, Inc., a non political, nonprofit, educational champion of private property, the free market, the profit and loss system, and limited government. Any interested person may receive its publica tions for the asking. The costs of Foundation projects and services, including THE FREEMAN, are met through voluntary donations. Total expenses average $15.00 a year per person on the mailing list. Donations are in vi ted in any amount as the means of maintaining and extending the Foundation's work. Copyright, 1976. The Foundation. for Economic Education, Inc. Printed in U.S.A. Additional copies, postpaid: 3 for $1.00; 10 or more, 25 cents each.

THE FREEMAN is available on microfilm from Xerox University Microfilms, Ann Arbor, Michigan 48106. Some articles available as reprints at cost; state quantity desired. Permission granted to reprint any article from this issue. with appropriate credit except "Where the Monetarists Go Wrong" and "A New Message:' WILLIAM H. PETERSON I DRAW MY SERMON from the gospel according to Ludwig von Mises in his Human Action (1949) in which it is written: "Capitalism is a scheme for peaceful nations:' and according to Alexis de Tocqueville in his Democracy in America (1835) in which it is written: There are at the present time two great nations in the world which seem to tend toward the same end, although they started from different points; I allude to the Russians and the Americans .... All other nations seem to have reached their natural limits, and only to be charged with the maintenance of their power; but these are still in the act of growth: all the others are stopped or continue to advance with extreme difficulty; these are proceeding with ease and with celerity along a path to which the Dr. Peterson is Burrows T. Lundy Professor of the Philosophy of Business at Campbell College, North Carolina.