Taxation according to income is the most effective instrument yet devised to obtain just contribution from those best able to bear it and to avoid placing onerous burdens upon the mass of our people.

Without mass cooperation great accumulations of wealth would be impossible save by unhealthy speculation.

Our revenue laws have operated in many ways to the unfair advantage of the few, and they have done little to prevent an unjust concentration of wealth and economic power.

From his understanding of wealth and poverty came his understanding of labor and capital, which led him to the solution of trusteeship based on the belief that there is no private ownership of capital; it is given in trust for redistribution and equalization. Similarly, while recognizing differential aptitudes and talents, he holds that these are gifts from God to be used for the collective good.

There is talk ... of our constructing Dnieprostroy through our own means. The means needed are great, several hundred millions. Let us not get into the position of the peasant who, after accumulating a nest-egg, instead of repairing his plough and renewing his equipment, buys a gramophone and goes bankrupt.

It is regrettable that people think about our monetary system, and of our economic structure, only in times of depression.