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.

Altho' I pretend to no peculiar information respecting commercial affairs, nor any foresight into the scenes of futurity; yet as the member of an infant-empire, as a Philanthropist by character, and (if I may be allowed the expression) as a Citizen of the great republic of humanity at large; I cannot help turning my attention sometimes to this subject.

One method of preserving it is, to use it as sparingly as possible; avoiding occasions of expense by cultivating peace, but remembering also that timely disbursements to prepare for danger frequently prevent much greater disbursements to repel it; avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts, which unavoidable wars may have occasioned, not ungenerously throwing upon posterity the burthen, which we ourselves ought to bear.

In our personal ambitions we are individualists. But in our seeking for economic and political progress as a nation, we all go up or else all go down as one people.

No country, however rich, can afford the waste of its human resources. Demoralization caused by vast unemployment is our greatest extravagance. Morally, it is the greatest menace to our social order.

Income was wisely chosen as the measure of benefits and of ability to pay. This was, and still is, a wholesome guide for national policy.