As a people, we have the problem of making our forests outlast this generation, or iron outlast this century, and our coal the next; not merely as a matter of convenience or comfort, but as a matter of stern necessity.

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 have come to the conclusion that the major part of the president is to increase the gate receipts of expositions and fairs and bring tourists to town.

I sincerely hope that the incoming Congress will be alive, as it should be, to the importance of our foreign trade and of encouraging it in every way feasible. The possibility of increasing this trade in the Orient, in the Philippines, and in South America is known to everyone who has given the matter attention.

The diplomacy of the present administration has sought to respond to the modern idea of commercial intercourse. This policy has been characterized as substituting dollars for bullets.

Politics, when I am in it, makes me sick.