[War] can no longer be of concern to great powers alone.

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.

Time and the world do not stand still. Change is the law of life.

Mr. Nixon has, in the last seven days, called me an economic ignoramus, a Pied Piper, and all the rest. I've just confined myself to calling him a Republican. But he says that is getting low.

Let us examine our attitude toward peace itself. Too many of us think it is impossible. Too many think it unreal. But that is a dangerous, defeatist belief. It leads to the conclusion that war is inevitable, that mankind is doomed, that we are gripped by forces we cannot control. We need not accept that view. Our problems are manmade; therefore they can be solved by man. And man can be as big as be wants. No problem of human destiny is beyond human beings.

I believe in an America where the separation of church and state is absolute - where no Catholic prelate would tell the president (should he be Catholic) how to act, and no Protestant minister would tell his parishoners for whom to vote - where no church or church school is granted any public funds or political preference - and where no man is denied public office merely because his religion differs from the president who might appoint him or the people who might elect him.

We celebrate the past to awaken the future.