Warren G. Harding: “We seek to undermine for others no industry by which they subsist; we are obligated to permit the undermining of none of…”

It is not an unworthy selfishness to seek to save ourselves, when the processes of that salvation are not only not denied to others, but commended to them.

It were better to, remain on firm ground, strive for ample employment and high standards of wage at home, and point the way to balanced budgets, rigid economies, and resolute, efficient work as the necessary remedies to cure disaster.

We recognize the necessity of buying wherever we sell, and the permanency of trade lies in its acceptable exchanges.

Our power to do so is not disputed, but power and ships, without comity of relationship, will not give us the expanded trade which is inseparably linked with a great merchant marine.