The Declaration of Independence and the Constitution of these United States are covenants we have made not only with ourselves, but with all mankind. Our founding documents proclaim to the world that freedom is not the sole prerogative of a chosen few. It is the universal right of all God's children.

When people tell me that I became President on January 20th, 1981, I feel I have to correct them. You don't become President of the United States. You are given temporary custody of an institution called the Presidency, which belongs to our people.

There are no easy answers' but there are simple answers. We must have the courage to do what we know is morally right.

It should be clear to everyone that the nation's steadfast policy should afford every American of working age a realistic opportunity to acquire the ownership and control of some meaningful form of property in a growing national economy.

In an ironic sense, Karl Marx was right. We are witnessing today a great revolutionary crisis, a crisis where the demands of the economic order are conflicting directly with those of the political order. But the crisis is happening not in the . . . West, but in the home of Marxism-Leninism, the Soviet Union. It is the Soviet Union that runs against the tide of history by denying human freedom and human dignity to its citizens.

My fellow citizens, our nation is poised for greatness. We must do what we know is right, and do it with all our might. Let history say of us: "These were golden years - when the American Revolution was reborn, when freedom gained new life, and America reached for her best."

We must remove government's smothering hand from where it does harm; we must seek to revitalize the proper functions of government. We do these things to set loose again the energy and the ingenuity of the American people. We do these things to reinvigorate those social and economic institutions which serve as a buffer and a bridge between the individual and the state - and which remain the real source of our progress as a people.