Battle ships and forts, public buildings, and improved waterways are investments which should be made when we have the money; but abundant revenues and a large surplus always invite extravagance, and constant care should be taken to guard against unnecessary increase of the ordinary expenses of government.
Here, Roosevelt warns against the dangers of extravagance in government spending despite having a surplus.
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The American people by a great plurality have conferred upon you the highest honor in their gift.
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