I do not believe that our present system of taxation completely meets this test.

It seems only equitable, therefore, to adjust our tax system in accordance with economic capacity, advantage and fact.

I should say you are absolutely right, but I hesitate to say so on the record for fear somebody would start a boom in North American stock.

I am heartily in favor of Section ii.

A tax upon inherited economic power is a tax upon static wealth, not upon that dynamic wealth.

This new proposal for the striking of suitable medals will, I believe, encourage the adequate observance of these anniversaries.

Taxes must produce ample revenues without discouraging enterprise.

The community has profited in those cases in which large-scale production has resulted in substantial economies and lower prices.

By the substitution of appropriate commemorative medals for special fifty-cent pieces much is to be gained.

Great accumulations of wealth cannot be justified on the basis of personal and family security.

It is of primary importance that this work should be done very carefully and under the supervision of an impartial committee.

It should be emphasized that the purposes of this work are to gather and publish reliable information and to counteract any propaganda from private sources which may be designed to promote a special interest.

The objective is to put three and a half million men to work during the coming fiscal year.

We cannot discriminate in any of the work we are conducting either because of race or religion or politics.

We want them to feel that they are getting work, even though the amount they get in pay for their work is somewhat below what they would be able to earn in private jobs.

We will give you 100 percent cooperation; and on your shoulders rests not only a great responsibility but also, I think, a very splendid opportunity to do a fine service for this country.

Politics, so far as we are concerned, is out.

It is very fine to see you.