In the councils of government we must guard against the acquisition of unwarranted influence, whether sought or unsought, by the military-industrial complex. The potential for the disastrous rise of misplaced power exists and will persist.

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.

We will bankrupt ourselves in the vain search for absolute security.

It was natural and perhaps human that the privileged princes of these new economic dynasties, thirsting for power, reached out for control over government itself. They created a new despotism and wrapped it in the robes of legal sanction.

Our second task is to do the constructive work of building a genuine peace. We must never become so preoccupied with our desire for military strength that we neglect those areas of economic development, trade, diplomacy, education, ideas and principles where the foundations of real peace must be laid.

Now all of us deplore this vast military spending. Yet, in the face of the Soviet attitude, we realize its necessity. Whatever the cost, America will keep itself secure. But in the process we must not, by our own hand, destroy or distort the American system. This we could do by useless overspending. I know one sure way to overspend. That is by overindulging sentimental attachments to outmoded military machines and concepts.