Today we can walk the road of peace because we have the strength we need. We have built that strength with courage. We have employed it with care. We… - Lyndon B. Johnson

No one can live daily, as I must do, with the dark realities of nuclear ruin, without seeking the guidance of God to find the path of peace. We have built this staggering strength that I have told you about not to destroy but to save, not to put an end to civilization but rather to try to put an end to conflict. Thus, in the past 3 years, as our strength rose--and, in large part, as a consequence of that rising strength--we have been able to take more tangible steps toward peace than at any time since the cold war began. We established an Arms Control and Disarmament Agency. We agreed with the Soviet Union on a statement of disarmament principles. We signed a test ban treaty. We established the "hot line." We supported a U.N. resolution prohibiting the orbiting of nuclear weapons. We cut back on nuclear production while the Soviet Union did the same. And we have just completed the negotiation of a new consular agreement. And, as the Geneva conference reconvenes, we have before it a series of proposals that I submitted, designed to freeze strategic nuclear delivery systems, to stop the spread of nuclear weapons, and to prohibit the use of force to solve disputes. And we will welcome any other proposal by any nation which promises realistic progress toward peace.

The world's most affluent society can surely afford to spend whatever must be spent for its freedom and security. We shall continue to maintain the military forces necessary for our security without regard to arbitrary or predetermined budget ceilings. But we shall continue to insist that those forces be procured at the lowest possible cost and operated with the greatest possible economy and efficiency. To acquire and maintain our unprecedented military power, we have been obliged to invest more than one-half of every dollar paid in taxes to the Federal Government. The Defense budget has grown from $43 billion in Fiscal Year 1960 to more than $51 billion in Fiscal Year 1964. I now estimate the Defense expenditures for Fiscal Year 1965 to be about $49.3 billion, or approximately $2 billion less than in Fiscal Year 1964. I further estimate that Defense expenditures for Fiscal Year 1966 will be reduced still another $300 million. There are two main reasons for this leveling-off in Defense expenditures: First, we have achieved many of the needed changes and increases in our military force structure; Second, we are now realizing the benefits of the rigorous Cost Reduction Program introduced into the Defense establishment during the past four years. As I have stated--and as our enemies well know--this country now possesses a range of credible, usable military power enabling us to deal with every form of military challenge from guerrilla terrorism to thermonuclear war. Barring a significant shift in the international situation, we are not likely to require further increments on so large a scale during the next several years. Expenditures for Defense will thus constitute a declining portion of our expanding annual Gross National Product, which is now growing at the rate of 5 percent each year. If, over the next several years, we continue to spend approximately the same amount of dollars annually for our national defense that we are spending today, an ever-larger share of our expanding national wealth will be free to meet other vital needs, both public and private. Let me be clear, however, to friend and foe alike. So long as I am President, we shall spend whatever is necessary for the security of our people.

We must meet the responsibilities here if we are to be equal to the opportunities there. But the success of all we undertake--the fulfillment of all that we aspire to achieve--rests finally on one condition: the condition of peace among all people. Mr. Schary and Mr. Feinberg, in your citation tonight, the words expressed the essence of America in the thought that--"As a country, we try." I believe that it is the highest legacy of our democracy that we are always trying--trying, probing, failing, resting, and up trying again--but always trying and always gaining. And this is the pursuit and the approach that we must make to peace. Not in a day or a year or a decade in 120 nations or more-not, perhaps, in a lifetime--shall we finally grasp the goal of peace for which we reach tonight. But we shall always be reaching, always trying--and, hopefully, always gaining.