Private enterprise is ceasing to be free enterprise. Private enterprise, indeed, became too private. It became privileged enterprise, not free enterprise.

Industrial combination is not wrong in itself. The danger lies in taking government into partnership.

I do not believe in communism any more than you do but there is nothing wrong with the Communists in this country. Several of the best friends I have got are Communists.

Freedom means the supremacy of human rights everywhere. Our support goes to those who struggle to gain those rights or keep them.

We must be the great arsenal of democracy. For us this is an emergency as serious as war itself. We must apply ourselves to our task with the same resolution, the same sense of urgency, the same spirit of patriotism and sacrifice as we would show were we at war.

The constant free flow of communication amount us-enabling the free interchange of ideas-forms the very bloodstream of our nation. It keeps the mind and body of our democracy eternally vital, eternally young.

I pledge you, I pledge myself, to a new deal for the American people.