The contest of strength is not only a contest of military and economic power, but also a contest of human power and morale. Military and economic power is necessarily wielded by people.
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We must achieve both security and solvency. In fact, the foundation of military strength is economic strength.
Now this brings me to my main topic - our military strength - more specifically, how to stay strong against threat from outside, without undermining the economic health that supports our security.
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.
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.
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.
Any orderly balance-sheet of military strength must be in two parts. The first is the position as of today. The second is the position in the period ahead.
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