Parties do not maintain themselves. They are maintained by effort. The government is not self-existent. It is maintained by the effort of those who believe in it. The people of America believe in American institutions, the American form of government and the American method of transacting business.

Governments are necessarily continuing concerns. They have to keep going in good times and in bad. They therefore need a wide margin of safety. If taxes and debt are made all the people can bear when times are good, there will be certain disaster when times are bad.

Coincident with the right of individual property under the provisions of our Government is the right of individual property. . . . When once the right of the individual to liberty and equality is admitted, there is no escape from the conclusion that he alone is entitled to the rewards of his own industry. Any other conclusion would necessarily imply either privilege or servitude.

To expect to increase prices and then to maintain them at a higher level by means of a plan which must of necessity increase production while decreasing consumption is to fly in the face of an economic law as well established as any law of nature.

It is equally clear that a government must govern, must prescribe and enforce laws within its sphere or cease to be a government. Moreover, the individual must be independent and free within his own sphere or cease to be an individual. The fundamental question was then, is now, and always will be through what adjustments, by what actions, these principles may be applied.

No advance, no progress can be made beyond these propositions. If anyone wishes to deny their truth or their soundness, the only direction in which he can proceed historically is not forward, but backward toward a time when there was no equality, no rights of the individual, no rule of the people. Those who wish to proceed in that direction cannot lay claim to progress. They are reactionary. Their ideas are not more modern, but more ancient than those of our Revolutionary ancestors.

Governments do not make ideals, but ideals make governments.