The budget idea, I may admit, is a sort of obsession with me. I believe in budgets. I want other people to believe in them. I have had a small one to run my own home; and besides that, I am the head of the organization that makes the greatest of all budgets, that of the United States Government. Do you wonder, then, that at times I dream of balance sheets and sinking funds?

The collection of taxes which are not absolutely required, which do not beyond reasonable doubt contribute to public welfare, is only a species of legalized larceny. Under this Republic the rewards of industry belong to those who earn them.

Mass demand has been created almost entirely through the development of advertising.

I have noticed that nothing I never said ever did me any harm.

Inflation is repudiation.

Whenever Nature's bounty is in danger of exhaustion, the chemist has sought for a substitute. The conquest of disease has made great progress as a result of your efforts. Wherever we look, the work of the chemist has raised the level of our civilization and has increased the productive capacity of the nation. Waste materials, formerly cast aside, are now being utilized.

When more and more people are thrown out of work, unemployment results.