America has never forgotten - and never will forget - the nobler things that brought her into being and that light her path...

Nothing did more to spur the boom in stocks than the decision made by the New York Federal Reserve bank, in the spring of 1927, to cut the rediscount rate. Benjamin Strong, Governor of the bank, was chief advocate of this unwise measure, which was taken largely at the behest of Montagu Norman of the Bank of England....At the time of the Banks action I warned of its consequences....I felt that sooner or later the market had to break.

The longer I operated on Wall Street the more distrustful I became of tips and inside information of every kind. Given time, I believe that inside information can break the Bank of England

Let us not be deceived we are today in the midst of a cold war.

You can talk about capitalism and communism and all that sort of thing, but the important thing is the struggle everybody is engaged in to get better living conditions, and they are not interested too much in government.

A man sentenced to death obtained a reprieve by assuring the king he would teach his majesty's horse to fly within the year - on the condition that if he didn't succeed, he would be put to death at the end of the year. "Within a year," the man explained later, "the king may die, or I may die, or the horse may die. Furthermore, in a year, who knows? Maybe the horse will learn to fly." My philosophy is like that man's. I take the long-range view.

Always do one thing less than you think you can do.