Anyone who critically analyzes a business learns this: that the success or failure of an enterprise depends usually upon one man.

If we desire respect for the law, we must first make the law respectable.

Fear of serious injury cannot alone justify suppression of free speech and assembly.

Neutrality is at times a graver sin than belligerence.

Experience should teach us to be most on our guard to protect liberty when the Government's purposes are beneficent. Men born to freedom are naturally alert to repel invasion of their liberty by evil-minded rulers. The greatest dangers to liberty lurk in the insidious encroachment by men of zeal, well meaning but without understanding.

In business, the earning of profit is something more than an incident of success. It is an essential condition of success. It is an essential condition of success because the continued absence of profit itself spells failure.

Strong, responsible unions are essential to industrial fair play. Without them the labor bargain is wholly one-sided. The parties to the labor contract must be nearly equal in strength if justice is to be worked out, and this means that the workers must be organized and that their organizations must be recognized by employers as a condition precedent to industrial peace.