There are men who doubt this. There are men who believe that democracy, as a form of Government and a frame of life, is limited or measured by a kind of mystical and artificial fate - that, for some unexplained reason, tyranny and slavery have become the surging wave of the future - and that freedom is an ebbing tide. But we Americans know that this is not true.

Let us never forget that government is ourselves and not an alien power over us. The ultimate rulers of our democracy are not a President and Senators and Congressmen and Government officials but the voters of this country.

The real truth of the matter is, as you and I know, that a financial element in the larger centers has owned the Government ever since the days of Andrew Jackson.

The liberty of a democracy is not safe if the people tolerated the growth of private power to a point where it becomes stronger than the democratic state itself. That in its essence is fascism: ownership of government by an individual, by a group, or any controlling private power.

I want to preach a new doctrine. A complete separation of business and government.

If by democratic methods people get a government strong enough to protect them from fear and starvation, their democracy succeeds; but if they do not, they grow impatient.