They realize that in thirty-four months we have built up new instruments of public power. In the hands of a peoples Government this power is wholesome and proper. But in the hands of political puppets of an economic autocracy such power would provide shackles for the liberties of the people.

While things on the surface seem more quiet than at any time since last summer, I do not like the maintenance of what amounts to almost full mobilization in aggressor countries. Surely they cannot afford it and if they had any definite policy of trying to work out economic salvation (except by arms) they would be showing some signs of cutting military expenditures.

A government can be no better than the public opinion which sustains it.

What I seek is the highest possible batting average.

The loneliest feeling in the world is when you think you are leading the parade and turn to find that no one is following you. No president who badly misguesses public opinion will last very long.

It is the habit of the unthinking to turn to the illusions of economic magic. These unhappy times call for the building of plans that put their faith once more in the forgotten man at the bottom of the economic pyramid

Necessitous men are not free men.