The high tenet of this philosophy (Liberalism) is that Liberty is an endowment from the Creator of every individual man and woman upon which no power, whether economic or political, can encroach, and that not even the government may deny. And herein it challenges all other philosophies of society and government; for all others, both before and since, insist that the individual has no such unalienable rights, that he is but the servant of the state. Liberalism holds that man is master of the state, not the servant; that the sole purpose of government is to nurture and assure these liberties. All others insist that Liberty is not a God-given right; that the state is the master of the man.

We in America today are nearer to the final triumph over poverty than ever before.

In order that there can be no doubt as to its antithesis to Liberalism, we may well accept Premier Mussolini’s definition of Fascism: . . . ‘Granted that the nineteenth century was the century of Socialism, of Liberalism and Democracy . . . it may rather be expected that this will be the century of authority, a century of the left, a century of Fascism; for if the nineteenth century was a century of individualism (Liberalism always signifying individualism) it may be expected that this will be the century of collectivism, and hence the century of the state. . .’

Bureaucracy is ever desirous of spreading its influence and its power. You cannot extend the mastery of the government over the daily working life of a people without at the same time making it the master of the people's souls and thoughts. Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation's press and platform. Free speech does not live many hours after free industry and free commerce die.

...the wreckage of representative government is strewn with broken promises.

The only trouble with capitalism is capitalists; they're too damned greedy.

The great liability of the engineer compared to men of other professions is that his works are out in the open where all can see them. His acts, step by step, are in hard substance. He cannot bury his mistakes in the grave like the doctors. He cannot argue them into thin air or blame the judge like the lawyers. He cannot, like the architects, cover his failures with trees and vines. He cannot, like the politicians, screen his shortcomings by blaming his opponents and hope that the people will forget. The engineer simply cannot deny that he did it. If his works do not work, he is damned.

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There are things in the world that cannot be brought about. There are mistakes that cannot be repaired. But there is one thing sure — that loyalty and friendship are the most precious possessions a man can have.

Wisdom consists not so much in knowing what to do in the ultimate as in knowing what to do next.

The American people are doing their job today. They should be given a chance to show whether they wish to preserve the principles of individual and local responsibility and mutual self-help before they embark on what I believe to be a disastrous system. I feel sure they will succeed if given the opportunity.

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Wages have increased, the cost of living has decreased. The job of every man and woman has been made more secure. We have in this short period decreased the fear of poverty, the fear of unemployment, the fear of old age; and these fears that are the greatest calamities of human kind.