Each proposal must be weighed in the light of a broader consideration: the need to maintain balance in and among national programs - balance between the private and the public economy, balance between cost and hoped for advantage - balance between the clearly necessary and the comfortably desirable; balance between our essential requirements as a nation and the duties imposed by the nation upon the individual; balance between action of the moment and the national welfare of the future.

In 1913 for reasons unknown to mankind, they established the income tax so that citizens, rather than foreign countries, would start paying the money necessary to run our government.

The advancement of agriculture, commerce and manufactures, by all proper means, will not, I trust, need recommendation. But I cannot forbear intimating to you the expediency of giving effectual encouragement as well to the introduction of new and useful inventions from abroad, as to the exertions of skill and genius in producing them at home; and of facilitating the intercourse between the distant parts of our country by a due attention to the Post Office and Post Roads.

Your young military men, who want to reap the harvest of laurels, don't care (I suppose) how many seeds of war are sown; but for the sake of humanity it is devoutly to be wished, that the manly employment of agriculture and the humanizing benefits of commerce, would supersede the waste of war and the rage of conquest; that the swords might be turned into plough-shares, the spears into pruning hooks, and, as the Scripture expresses it, "the nations learn war no more."

I regard reduction in Federal spending as one of the most important issues in this campaign. In my opinion it is the most direct and effective contribution that Government can make to business.

We are spending altogether too much money for government services which are neither practical nor necessary. In addition to this, we are attempting too many functions and we need a simplification of what the Federal government is giving the people.