Our economic assistance must be carefully targeted, and must make maximum use of the energy and efforts of the private sector... Economic freedom is the world's mightiest engine for abundance and social justice... Developing countries need to be encouraged to experiment with a growing variety of arrangements for profit sharing and expanded capital ownership.

The people's instincts are still right. You see them come to the rescue of someone-a child who falls down a well-hundreds of people rush to help, and labor and equipment are volunteered without any thought of who's going to pay for it. This is a basic feeling in Americans. They don't stand back in such a circumstance and ask what the government's going to do about it.

Will you resist the temptation to get a government handout for your community? Realize that the doctor's fight against socialized medicine is your fight. We can't socialize the doctors without socializing the patients. Recognize that government invasion of public power is eventually an assault upon your own business.

Yet optimism is in order, because day by day democracy is proving itself to be a not-at-all-fragile flower. From Stettin on the Baltic to Varna on the Black Sea, the regimes planted by totalitarianism have had more than 30 years to establish their legitimacy. But none - not one regime - has yet been able to risk free elections. Regimes planted by bayonets do not take root.

If some among you fear taking a stand because you are afraid of reprisals from customers, clients, or even government, recognize that you are just feeding the crocodile hoping he'll eat you last.

Entrepreneurs and their small enterprises are responsible for almost all the economic growth in the United States.

We're resolved tonight that young Americans will always see those Potomac lights, that they will always find here a city of hope in a country that's free so that when other generations look back at this conservative era in American politics and our time in power, they'll say of us that we did hold true to that dream of Joseph Winthrop and Joseph Warren, that we did keep faith with our God, that we did act worthy of ourselves, that we did protect and pass on lovingly that shining city on a hill.