I have an intense personal interest in making the use of American capital in the development of China an instrument for the promotion of the welfare of China, and an increase in her material prosperity without entanglements or creating embarrassment affecting the growth of her independent political power, and the preservation of her territorial integrity.

People run away from the name subsidy. It is a subsidy. I am not afraid to call it so. It is paid for the purpose of giving a merchant marine to the whole country so that the trade of the whole country will be benefitted thereby, and the men running the ships will of course make a reasonable profit.... Unless we have a merchant marine, our navy if called upon for offensive or defensive work is going to be most defective.

I prefer an income tax, but the truth is I am afraid of the discussion which will follow and the criticism which will ensue if there is an other division in the Supreme Court on the subject of the income tax. Nothing has injured the prestige of the Supreme Court more than that last decision, and I think that many of the most violent advocates of the income tax will be glad of the substitution in their hearts for the same reasons. I am going to push the Constitutional amendment, which will admit an income tax without questions, but I am afraid of it without such an amendment.

The scope of modern government in what it can and ought to accomplish for its people has been widened far beyond the principles laid down by the old "laissez faire" school of political rights, and the widening has met popular approval.

Golf in the interest of good health and good manners. It promotes self-restraint and affords a chance to play the man and act the gentleman.

I'll be damned if I am not getting tired of this. It seems to be the profession of a President simply to hear other people talk.

I know this, and I know it from actual experience in the Orient, that the progress of modern Christian civilization has largely depended on the earnest hard work of the Christian missions of every denomination.