One of the reforms to be carried out during the incoming administration is a change in our monetary and banking laws, so as to secure greater elasticity in the forms of currency available for trade and to prevent the limitations of law from operating to increase the embarrassment of a financial panic.

What I am anxious to do is to get the best bill possible with the least amount of friction.... I wish to avoid [splitting our party]. I shall do all in my power to retain the corporation tax as it is now and also force a reduction of the [tariff] schedules. It is only when all other efforts fail that I'll resort to headlines and force the people into this fight.

The truth is, the whole administration under Roosevelt was demoralized by the system of dealing directly with subordinates. It wasobviated in the State Department and the War Department under [Secretary of State Elihu] Root and me [Taft was the Secretary of War], because we simply ignored the interference and went on as we chose.... The subordinates gained nothing by his assumption of authority, but it was not so in the other departments.

Masonry aims at the promotion of morality and higher living by the cultivation of the social side of man, the rousing in him of the instincts of charity and love of his kind. It rests surely on the foundation of the brotherhood of man and the fatherhood of God.

The President can exercise no power which cannot be fairly and reasonably traced to some specific grant of power in the Federal Constitution or in an act of Congress passed in pursuance thereof. There is no undefined residuum of power which he can exercise because it seems to him to be in the public interest.

The judiciary has fallen to a very low state in this country. I think your part of the country has suffered especially. The federal judges of the South are a disgrace to any country, and I'll be damned if I put any man on the bench of whose character and ability there is the least doubt.

Lawyers are necessary in a community. Some of you...take a different view; but as I am a member of that legal profession, or was at one time, and have only lost standing in it to become a politician, I still retain the pride of the profession. And I still insist that it is the law and the lawyer that make popular government under a written constitution and written statutes possible.