If the economy of today were operating close to capacity levels with little unemployment, or if a sudden change in our military requirements should cause a scramble for men and resources, then I would oppose tax reductions as irresponsible and inflationary; and I would not hesitate to recommend a tax increase if that were necessary.

A full scale nuclear exchange, lasting less than 60 minutes...could wipe out more than 300 million Americans, Europeans, and Russians, as well as untold numbers elsewhere. And the survivors-as Chairman Khrushchev warned the Communist Chinese, `the survivors would envy the dead.' For they would inherit a world so devastated by explosions and poison and fire that today we cannot conceive of its horrors.

We should not let our fears hold us back from pursuing our hopes.

This nation was founded by men of many nations and backgrounds. It was founded on the principle that all men are created equal, and that the rights of every man are diminished when the rights of one man are threatened ... It ought to to be possible, in short, for every American to enjoy the privileges of being American without regard to his race or his color.

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.

To state the facts frankly is not to despair the future nor indict the past. The prudent heir takes careful inventory of his legacies and gives a faithful accounting to those whom he owes an obligation of trust.

The most powerful single force in the world today is neither Communism nor Capitalism, neither the H-bomb nor the guided missile -- it is man's eternal desire to be free and independent.