The trade agreement which I had the privilege of signing with your Prime Minister last autumn is tangible evidence of the desire of the people of both countries to practice what they preach when they speak of the good neighbor. In the solution of the grave problems that face the world today, frank dealing, cooperation and a spirit of give and take between nations is more important than ever before.

The principle on which this country was founded and by which it has always been governed is that Americanism is a matter of the mind and heart; Americanism is not, and never was, a matter of race or ancestry.

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

The function of Government must be to favor no small group at the expense of its duty to protect the rights of personal freedom and of private property of all its citizens.

But while they prate of economic laws, men and women are starving. We must lay hold of the fact that economic laws are not made by nature. They are made by human beings.

The people of America are in agreement in defending their liberties at any cost, and the first line of that defense lies in the protection of economic security.

For out of this modern civilization economic royalists carved new dynasties. New kingdoms were built upon concentration of control over material things. Through new uses of corporations, banks and securities, new machinery of industry and agriculture, of labor and capital - all undreamed of by the Fathers - the whole structure of modern life was impressed into this royal service.