If these assets were set up as a revolving fund with which Japan could import raw materials for its industries, Japanese exports could again enter the channels of world trade-and Japanese workers would have employment and something to eat.

If all Europe lies flat while the Russian mob tramps over it, we will then be faced with a war under difficult circumstances, and with a very good chance of losing it.

The raising of that flag on Suribachi means a Marine Corps for the next 500 years.

As in the war of 1941-45, our victory and our survival depend on how and where we attack.

Moreover, the accomplishment of Russia's aims has been greatly simplified by the fact that we have heretofore offered the world no practical antidote for the Russian poison.

For the only way in which a durable peace can be created is by world-wide restoration of economic activity and international trade.

By providing outstanding economic leadership, this country can wage its attack successfully - and can thereby build the foundations of a peaceful world.