The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson - and I am not wholly excepting the Administration of W. W. The country is going through a repetition of Jackson's fight with the Bank of the United States - only on a far bigger and broader basis.

Unless the peace that follows recognizes that the whole world is one neighborhood and does justice to the whole human race, the germs of another world war will remain as a constant threat to mankind.

Of course we will continue to work for cheaper electricity in the homes and on the farms of America; for better and cheaper transportation; for low interest rates; for sounder home financing; for better banking; for the regulation of security issues; for reciprocal trade among nations and for the wiping out of slums. And my friends, for all of these we have only begun to fight.

Repetition does not transform a lie into a truth.

A small group had concentrated into their own hands an almost complete control over other people's property, other people's money, other people's labor - other people's lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

Friendship among nations, as among individuals, calls for constructive efforts to muster the forces of humanity in order that an atmosphere of close understanding and cooperation may be cultivated.

Frankly, I do not like the idea of conversations to define the term "unconditional surrender."The German people can have dinned into their ears what I said in my Christmas Eve speech--in effect, that we have no thought of destroying the German people and that we want them to live through the generations like other European peoples on condition, of course, that they get rid of their present philosophy of conquest.