The most essential factor to economic recovery today [1932] is the restoration of confidence.

Every collectivist revolution rides in on a Trojan horse of EMERGENCY.

Children are our most valuable natural resource.

While the crash only took place six months ago, I am convinced we have passed the worst and with continued unity of effort we shall rapidly recover.

Once the day's work starts there is little chance to walk, to ride or to take part in a game. Taking walks or rides early in the morning is a lonesome business, and the inevitable Secret Service guard when the president leaves the White House grounds is not enlivening company.

I come of Quaker stock. My ancestors were persecuted for their beliefs. Here they sought and found religious freedom. By blood and conviction I stand for religious tolerance both in act and in spirit.

In the great mass of our people there are plenty individuals of intelligence from among whom leadership can be recruited.