General Lee is reported to have ranked him even higher, saying, 'Meade, in my judgment, had the greatest ability. I feared him more than any man I ever met upon the field of battle.'

It is a satisfaction to realize that a change has come over public opinion.

Everyone with even the most elementary knowledge of American history knows that Meade was victorious at Gettysburg.

Our country doesn't undertake to make any suggestion about the desirability of a loan, or the financial soundness of it, or whether it is worthy or unworthy of investment in its bonds by investors in this country.

I saw some reference to the statement made by Senator Glass relative to foreign loans.

The Senator is a man exceedingly well versed in national and international finance, and anything that he says is entitled to a very great deal of consideration.

The Constitution places in the hands of the President, and he ex-ercises that authority chiefly through the State Department, the conduct of foreign relations, relations between this country and foreign countries.

And we have been able to meet these large increases by absorbing them through economies in other directions.

I have said a great deal about tax reduction, of course, since I have been President, but this always has to be borne in mind—that tax reduction is to be secured only as the result of economy.

Since I have been President, of course, we have entered into a good many new expenditures.

The present debt of the United States is about $18,000,000,000.

I am opposed to extravagance, rather than to tax reduction.