It's still true. Yes, all three are dangerous and open to abuse, but they - with the right protections in place - will provide better outcomes than the alternatives.
If Douglass could've conceived of a world without cash then perhaps he would've mentioned a fourth.
Many people are completely serious that the only way to take to take their guns is quite literally over their dead body.
As a funny side note this is only place I have lived where it is normal to see people get out of their vehicle with hunting/assault rifles at the gas station sorting/shifting their gear and nobody bats an eye. My bank has a fundraiser poster on the door for a rifle giveaway prize.
Cash gives you a level of financial discretion for which the only comparable alternative is gold, but more liquid.