Abhorring war as a chosen way to balk the purposes of those who threaten us, we hold it to be the first task of statesmanship to develop the strength that will deter the forces of aggression and promote the conditions of peace.

Especially is this meaningful as we regard today's world. Over the globe, mankind has been cruelly torn by violence and brutality and, by the millions, deadened in mind and soul by a materialistic philosophy of life. Man everywhere is appalled by the prospect of atomic war. In this somber setting, this law and its effects today have profound meaning. In this way we are reaffirming the transcendence of religious faith in America's heritage and future; in this way we shall constantly strengthen those spiritual weapons which forever will be our country's most powerful resource, in peace or in war.

Recognizing economic health as an indispensable basis of military strength and the free world's peace, we shall strive to foster everywhere, and to practice ourselves, policies that encourage productivity and profitable trade.

Success of humanity lies in our collective strengths, not in the battlefield. For global peace and development, reforms are necessary in global organisations. Reform is the key to relevance. Permanent G20 membership to African Union at the New Delhi Summit was an important step towards this.

America's leadership and prestige depend, not merely upon our unmatched material progress, riches and military strength, but on how we use our power in the interests of world peace and human betterment.

As one who has witnessed the horror and the lingering sadness of war - as one who knows that another war could utterly destroy this civilization which has been so slowly and painfully built over thousands of years - I wish I could say tonight that a lasting peace is in sight.