Reagan praised libertarian principles, but he stopped way short of buying into the libertarian "anything goes" drug agenda. He was a stalwart opponent of drug abuse and was committed to keeping drugs like marijuana, cocaine, and heroin illegal.
Reagan was my kind of conservative.
http://www.newsmax.com/archives/articles/2002/5/11/12343.shtml
When NewsMax reported that Ronald Reagan did not oppose legalizing marijuana, we were surprised by the buzz the story created. Why the surprise? Reagan had a strong libertarian streak. He opposed such things as mandatory seat belt laws and requirements that motorcyclists wear helmets. We know Reagan was one of the first to challenge the Nanny State. Last week NewsMax publicized comments Ronald Reagan made in one of his radio broadcasts before he became president. (Reagan gave about 1,000 radio commentaries just before he became president.) After decades, the tapes have recently been released. In August 1979, Reagan dedicated one program to marijuana. While he warned of the many health risks, he did say, "If adults want to take such chances [using marijuana], that is their business." Soon after NewsMax ran the story we received a call from NORML, the Washington-based group that wants to legalize the drug. NORML had created controversy when it took out huge billboards of former Mayor Rudy Giuliani and current New York Mayor Michael Bloomberg, quoting their admission they both smoked pot. Bloomberg and Giuliani weren't chuckling and asked NORML to pull the ads. One person who was chuckling was Michael Reagan, the popular radio host and son of President Reagan. Mike saw the NewsMax story and said, "Of course Dad was for legalization." "He wasn't crazy," Reagan added, laughing, "He didn't want his kids in jail!" Of course, Ronald and Nancy Reagan's four kids came of age during the turbulent '60s and '70s. For the most part, the Reagan kids' lifestyles were not as straight-laced as their parents.