A vital element in keeping the peace is our military establishment. Our arms must be mighty, ready for instant action, so that no potential aggressor may be tempted to risk his own destruction.

We need an adequate defense, but every arms dollar we spend above adequacy has a long-term weakening effect upon the nation and its security.

Arms alone can give the world no permanent peace, no confident security. Arms are solely for defense - to protect from violent assault what we already have. They are only a costly insurance. They cannot add to human progress.

This conjunction of an immense military establishment and a large arms industry is new in the American experience. The total influence - economic, political, even spiritual - is felt in every city, every Statehouse, every office of the Federal government.

I get weary of the European habit of taking our money, resenting any slight hint as to what they should do, and then assuming, in addition, full right to criticize us as bitterly as they may desire.

Money is indeed the most important thing in the world; and all sound and successful personal and national morality should have this fact for its basis.