It is time for a new generation of leadership, to cope with new problems and new opportunities. For there is a new world to be won.

For man holds in his mortal hands the power to abolish all forms of human poverty and all forms of human life. And yet the same revolutionary beliefs for which our forebears fought are still at issue around the globe -- the belief that the rights of man come not from the generosity of the state, but from the hand of God.

Now let me make it clear that I believe there can only be one defense policy for the United States and that is summed up in the word 'first.' I do not mean first, but. I do not mean first, when. I do not mean first, if. I mean first - period.

If there is one path above all others to war, it is the path of weakness and disunity.

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.

It is increasingly clear that no matter what party is in power, so long as our national security needs keep rising, an economy hampered by restrictive tax rates will never produce enough jobs or enough profits.

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