No treaty, however much it may be to the advantage of all, however tightly it may be worded, can provide absolute security against the risks of deception and evasion. But it can, if it is sufficiently effective in its enforcement and if it is sufficiently in the interests of its signers, offer far more security and far fewer risks than an unabated, uncontrolled, unpredictable arms race.

The present tax codes inhibit the mobility and formation of capital, add complexities and inequities which undermine the morale of the taxpayer, and make tax avoidance rather than market factors a prime consideration in too many economic decisions.

And so it is that I carry with me from this State to that high and lonely office to which I now succeed more than fond memories and fast friendships. The enduring qualities of Massachusetts - the common threads woven by the Pilgrim and the Puritan, the fisherman and the farmer, the Yankee and the immigrant - will not be and could not be forgotten in the Nations Executive Mansion. They are an indelible part of my life, my convictions, my view of the past, my hopes for the future.

I would rather be accused of breaking precedents than breaking promises.

I think the American people expect more from us than cries of indignation and attack. The times are too grave, the challenge too urgent, and the stakes too high - to permit the customary passions of political debate.

Peace does not rest in charters and covenants alone. It lies in the hearts and minds of the people.

Let us not seek the Republican answer or the Democratic answer, but the right answer. Let us not seek to fix the blame for the past. Let us accept our own responsibility for the future.