The tax-exempt privilege is a feature always reflected in the market price of [municipal] bonds. The investor pays for it.

The constitutional right of free speech has been declared to be the same in peace and war. In peace, too, men may differ widely as to what loyalty to our country demands, and an intolerant majority, swayed by passion or by fear, may be prone in the future, as it has been in the past, to stamp as disloyal opinions with which it disagrees.

At the foundation of our civil liberties lies the principle that denies to government officials an exceptional position before the law and which subjects them to the same rules of conduct that are commands to the citizen.

There are better mothers than disaster. A native land is the best of all mothers. We American Jews have a native land we love. But it is even better to have a native land who loves us.

If we would guide by the light of reason we must let our minds be bold.

No danger flowing from speech can be deemed clear and present unless the incidence of the evil apprehended is so imminent that it may befall before there is an opportunity for full discussion. Only an emergency can justify repression.

Democracy is moral before it is political.