There are indications because of new inventions, that 10, 15, or 20 nations will have a nuclear capacity, including Red China, by the end of the Presidential office in 1964. This is extremely serious. I think the fate not only of our own civilization, but I think the fate of world and the future of the human race, is involved in preventing a nuclear war.

We cannot reform the world.... Uncle Sugar is as dangerous a role for us to play as Uncle Shylock.

I ask particularly that those of you who are now in school will prepare yourselves to bear the burden of leadership over the next 40 years here in the United States, and make sure that the United States - which I believe almost alone has maintained watch and ward for freedom - that the United States meet its responsibility. That is a wonderful challenge for us as a people.

In those countries where income taxes are lower than in the United States, the ability to defer the payment of U.S. tax by retaining income in the subsidiary companies provides a tax advantage for companies operating through overseas subsidiaries that is not available to companies operating solely in the United States. Many American investors properly made use of this deferral in the conduct of their foreign investment.

We shall be judged more by what we do at home than what we preach abroad.

The mere absence of war is not peace.

I speak of peace, therefore, as the necessary rational end of rational men. I realize the pursuit of peace is not as dramatic as the pursuit of war... But we have no more urgent task.