Prosperity, with peace and contentment, is an enviable situation.

Despite the heroic efforts of both the executive branch and the legislative branch of the Government, it has required eight and one-third years to reduce the debt by $8,500,000,000.

It is essential that you know the effect of your task upon the Federal finances as a whole.

The wisdom of that policy has been definitely shown.

This has been brought about, not by bringing in experts from the outside, but by making people already in the service of the various branches of the Government and securing the full benefit of their knowledge and experience.

Nearly everyone connects them with economy in Government expenditures. But that is not the real answer.

I don't know of anything I can add to what I said there.

I know very well that we do not harbor any intention of attacking anyone else.

But I do not agree with the methods that they sometimes employ.

I find in my own case that my privileges of free speech are a good deal curtailed, because I am President.

There doesn't seem to be much of anything the President can do about that.

I don't think there is any reason for taking seriously any suggestion that the country at the present time is in danger of being attacked.