Fate ciò che potete, con ciò che avete, dove siete. - Theodore Roosevelt

I do not like to see young Christians with shoulders that slope like a champagne bottle.

A heavy progressive tax upon a very large fortune is in no way such a tax upon thrift or industry as a like would be on a small fortune. No advantage comes either to the country as a whole or to the individuals inheriting the money by permitting the transmission in their entirety of the enormous fortunes which would be affected by such a tax; and as an incident to its function of revenue raising, such a tax would help to preserve a measurable equality of opportunity for the people of the generations growing to manhood. We have not the slightest sympathy with that socialistic idea which would try to put laziness, thriftlessness and inefficiency on a par with industry, thrift and efficiency; which would strive to break up not merely private property, but what is far more important, the home, the chief prop upon which our whole civilization stands. Such a theory, if ever adopted, would mean the ruin of the entire country — a ruin which would bear heaviest upon the weakest, upon those least able to shift for themselves. But proposals for legislation such as this herein advocated are directly opposed to this class of socialistic theories. Our aim is to recognize what Lincoln pointed out: The fact that there are some respects in which men are obviously not equal; but also to insist that there should be an equality of self-respect and of mutual respect, an equality of rights before the law, and at least an approximate equality in the conditions under which each man obtains the chance to show the stuff that is in him when compared to his fellows.

We most earnestly hope and believe that the chance of our having any hostile military complication with any foreign power is very small. But that there will come a strain, a jar, here and there, from commercial and agricultural—that is, from industrial—competition is almost inevitable. Here again we have got to remember that our first duty is to our own people, and yet that we can best get justice by doing justice. We must continue the policy that has been so brilliantly successful in the past, and so shape our economic system as to give every advantage to the skill, energy, and intelligence of our farmers, merchants, manufacturers, and wage-workers; and yet we must also remember, in dealing with other nations, that benefits must be given where benefits are sought. It is not possible to dogmatize as to the exact way of attaining this end, for the exact conditions cannot be foretold. In the long run, one of our prime needs is stability and continuity of economic policy; and yet, through treaty or by direct legislation, it may, at least in certain cases, become advantageous to supplement our present policy by a system of reciprocal benefit and obligation.