Here is my principle: Taxes shall be levied according to ability to pay. That is the only American principle.

If the Nation is living within its income, its credit is good. If, in some crises, it lives beyond its income for a year or two, it can usually borrow temporarily at reasonable rates. But if, like a spendthrift, it throws discretion to the winds, and is willing to make no sacrifice at all in spending; if it extends its taxing to the limit of the peoples power to pay and continues to pile up deficits, then it is on the road to bankruptcy.

Let us not confuse objectives with methods. Too many so-called leaders of the nation fail to see the forest because of the trees. Too many of them fail to recognize the vital necessity of planning for definite objectives. True leadership calls for the setting forth of the objectives and the rallying of public opinion in support of these objectives.

The Nation that destroys its soil destroys itself.

Every time an artist dies, part of the vision of mankind passes with him.

If the fires of freedom and civil liberties burn low in other lands they must be made brighter in our own. If in other lands the press and books and literature of all kinds are censored we must redouble our efforts here to keep them free. If in other lands the eternal truths of the past are threatened by intolerance we must provide a safe place for their perpetuation.

We are going to tax and tax, spend and spend, elect and elect.