Our problem in money-making or government affairs is how to remain properly venturesome and experimental without making fools of ourselves.

Two things are bad for the heart - running up stairs and running down people.

Do not blame anybody for your mistakes and failures.

I have learned the truth of the observation that the more one approaches great men the more one finds that they are men.

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.

Old books that have ceased to be of service should no more be abandoned than should old friends who have ceased to give pleasure.

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.