Malthus argued a century and a half ago that man, by using up all his available resources, would forever press on the limits of subsistence, thus condemning humanity to an indefinite future of misery and poverty. We can now begin to hope and, I believe, know that Malthus was expressing not a law of nature, but merely the limitation then of scientific and social wisdom. The truth or falsity of his prediction will depend now, with the tools we have, on our own actions, now and in the years to come.

Now, as never before, hundreds of millions of men and women-who had formerly believed that stoic resignation in the face of hunger and disease and darkness was the best one could could do-have come alive with a new sense that the means are at hand with which to make for themselves a better life.

When asked what I am most proud of, I stick out my chest, hold my head high and state proudly, 'I served in the United States Navy!'

Collective bargaining has always been the bedrock of the American labor movement. I hope that you will continue to anchor your movement to this foundation. Free collective bargaining is good for the entire Nation. In my view, it is the only alternative to State regulation of wages and prices - a path which leads far down the grim road of totalitarianism. Those who would destroy or further limit the rights of organized labor - those who would cripple collective bargaining or prevent organization of the unorganized - do a disservice to the cause of democracy.

We stand for freedom. That is our conviction for ourselves; that is our only commitment to others.

I have asked the secretary of the treasury to report by April 1 on whether present tax laws may be stimulating in undue amounts the flow of American capital to the industrial countries abroad through special preferential treatment.

The voters selected us, in short, because they had confidence in our judgement and our ability to exercise that judgement from a position where we could determine what were their own best interest, as a part of the nation's interest.