FDR: “Today it has created a vast reservoir of tax exempt securities in the hands of the very persons who equitably should not…”

We are absolutely un changed in our policy of two years ago, for immediate Filipino independence.

We can be proud of all that the Red Cross has meant to them.

We must go on to do all in our power to conquer the doubts and the fears, the ignorance and the greed, which made this horror possible.

The point in history at which we stand is full of promise and of danger.