I favor the policy of economy, not because I wish to save money, but because I wish to save people. The men and women of this country who toil are the ones who bear the cost of the Government. Every dollar that we carelessly waste means that their life will be so much the more meager. Every dollar that we save means that their life will be so much the more abundant. Economy is idealism in its most practical form.

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 country is not in good condition.

Under our institutions each individual is born to sovereignty. Whatever he may adopt as a means of livelihood, his real business is serving his country. He cannot hold himself above his fellow men. The greatest place of command is really the place of obedience, and the greatest place of honor is really the place of service.

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

We do not need more material development, we need more spiritual development. We do not need more intellectual power, we need more moral power. We do not need more knowledge, we need more character. We do not need more government, we need more culture. We do not need more law, we need more religion. We do not need more of the things that are seen, we need more of the things that are unseen. It is on that side of life that it is desirable to put the emphasis at the present time. If that side be strengthened, the other side will take care of itself.

Persistence and determination alone are omnipotent.