In other periods of depression it has always been possible to see some things which were solid and upon which you could base hope, but as I look abou… - Calvin Coolidge

We have acted in the name of world peace and of humanity. Always the obstacles to be encountered have been distrust, suspicion and hatred. The great effort has been to allay and remove these sentiments. I believe that America can assist the world in this direction by her example. We have never forgotten the service done us by Lafayette, but we have long ago ceased to bear an enmity toward Great Britain by reason of two wars that were fought out between us. We want Europe to compose its difficulties and liquidate its hatreds. Would it not be well if we set the example and liquidated some of our own? The war is over. The militarism of Central Europe which menaced the security of the world has been overthrown. In its place have sprung up peaceful republics. Already we have assisted in refinancing Austria. We are about to assist refinancing Germany. We believe that such action will be helpful to France, but we can give further and perhaps even more valuable assistance both to ourselves and to Europe by bringing to an end our own hatreds. The best way for us who wish all our inhabitants to be single-minded in their Americanism is for us to bestow upon each group of our inhabitants that confidence and fellowship which is due to all Americans. If we want to get the hyphen out of our country, we can best begin by taking it out of our own minds. If we want France paid, we can best work towards that end by assisting in the restoration of the German people, now shorn of militarism, to their full place in the family of peaceful mankind.

By such action we have not only discharged an obligation to humanity, but have likewise profited in our trade relations and established a community of interests which can not but be an added security for the maintenance of peace. In so far as we can confirm other people in the possession of profitable industry, without injuring ourselves, we shall have removed from them that economic pressure productive of those dissensions, discords, and hostilities which are a fruitful source of war.

It is a great advantage to a President, and a major source of safety to the country, for him to know that he is not a great man. When a man begins to feel that he is the only one who can lead in this republic, he is guilty of treason to the spirit of our institutions.