If the people lose control of the arteries of trade and the natural sources of mechanical power, the nationalization of all industry should soon be expected. Our forefathers were alert to resist all encroachments upon their rights. If we wish to maintain our rights, we can do no less.

I do not want to see any of the people cringing supplicants for the favor of the Government, when they should all be independent masters of their own destiny.

The appropriation of public money always is perfectly lovely until some one is asked to pay the bill. If we are to have a billion dollars of navy, half a billion of farm relief, etc... the people will have to furnish more revenue by paying more taxes. It is for them, through their Congress, to decide how far they wish to go.

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?

Little progress can be made by merely attempting to repress what is evil. Our great hope lies in developing what is good.

If I had permitted my failures, or what seemed to me at the time a lack of success, to discourage me I cannot see any way in which I would ever have made progress.

Whether one traces his Americanism back three centuries to the Mayflower, or three years to the steerage, is not half so important as whether his Americanism of today is real and genuine. No matter by what various crafts we came here, we are all now in the same boat.