FDR: “I know that they will gladly embrace this economy and equality of sacrifice, satisfied that it is necessary for the most…”

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

We all know that the reduction of Government-created barriers to trade will not solve all our trade problems.

We shall be equipped to deal with the great overriding question of security, and with the crucial questions of money and exchange...

That such study should be conducted by a specially appointed commission charged with the duty of examining into the experience which industry and labor have thus far had with these plans, and of reporting the facts for the benefit of the…