July

No Eggs, No Omelet Everythingthat is consumed must be produced by somebody. Tom Elkins 403 AReal Con Job Robert G. Anderson 404 When job-creation becomes more important than production to serve consumers, our lives are threatened. ANew MessageIII. On The Constitution Jackson Pemberton 408 Words of courage and counsel from the hearts of the Founding Fathers to their children in a troubled nation. There Is an American Idea The manifold blessings of freedom, for the common man. HerbertV. Prochnow 419 What Is Economy? Clarence B. Carson 423 Economy concernshow we live in a world much subject to political influences. Private Coinage in America Brian Summers 436 Some examples of private coinage in the United States, before it was outlawed in 1864. Book Reviews: 441 "The ConservativeIntellectual MovementSince 1945" by George H. Nash "Simple & Direct: A Rhetoric for Writers" by Jacques Barzun "Free Markets or Famine" and "Politics versus Prosperity" by V. Orval Watts "The Economic Point of View" by Israel M. Kirzner Anyone wishing to communicate with 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 F R E E MAN 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 publications 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 invited 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. Per mission granted to reprint any article from this issue, with appropriate credit except "Unemployment, Unions. and Inflation" and "A New Message."