The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business.

I see nothing in the present situation that is either menacing or warrants pessimism.

A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.

Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.

The Government's business is in sound condition.

A nation is not in danger of financial disaster merely because it owes itself money.

Strong men have sound ideas and the force to make these ideas effective.