Let me briefly review for you the principles that govern our view of a just political settlement. First, our overriding objective is a political solu… - Richard Nixon

Present subsidized housing programs are marked by inconsistencies and inequities. Many families pay the same rent despite wide differences in income. A small increase in earnings may force the family to move, losing much more housing assistance than is gained in income. We have proposed a solution to many of these problems in the Housing Act of 1970. Rents would vary directly with income. A family would not be forced to move at some arbitrary income limit. We will offer this provision of the Housing Act to the Senate Finance Committee for its consideration.

From the discussions I have had with Congressional and other leaders, I have concluded that because of the Watergate matter I might not have the support of the Congress that I would consider necessary to back the very difficult decisions and carry out the duties of this office in the way the interests of the Nation would require. I have never been a quitter. To leave office before my term is completed is abhorrent to every instinct in my body. But as President, I must put the interest of America first. America needs a full-time President and a full-time Congress, particularly at this time with problems we face at home and abroad. To continue to fight through the months ahead for my personal vindication would almost totally absorb the time and attention of both the President and the Congress in a period when our entire focus should be on the great issues of peace abroad and prosperity without inflation at home. Therefore, I shall resign the Presidency effective at noon tomorrow. Vice President Ford will be sworn in as President at that hour in this office.

In speaking of that work, I naturally think somewhat in personal terms of the fact that not only is the Chief Justice concluding almost 16 years in his present position, but that today he concludes 52 years of public service to local, State, and national government--as District Attorney in Alameda County, as Attorney General of the State of California, as Governor of the State of California, the only three-term Governor in the history of that State, as Chief Justice of the United States of America. The Nation is grateful for that service. I am also reminded of the fact that the Chief Justice has established a record here in this Court which will be characterized in many ways. In view of the historical allusion 'that was made in the opinions just read, may I be permitted an historical allusion? Will Rogers, in commenting upon one of the predecessors of the Chief Justice, Chief Justice William Howard Taft, said that "It is great to be great. It is greater to be human." I think that comment could well apply to the Chief Justice as we look at his 52 years of service. One who has held high office in this Nation, but one who, in holding that office, always had the humanity which was all-encompassing, the dedication to his family--his personal family, to the great American family, to the family of man. The Nation is grateful for that example of humanity which the Chief Justice has given to us and to the world. But as we consider this moment, we also think of the transition which will shortly take place. We think of what it means to America, what it means to our institutions.