penalties will not be light, nor evenly distributed.  There is no way of making them so.  There is no instant step from disorder to order.  We must face a condition of grim reality, charge off our losses and start afresh.  It is the oldest lesson of civilization.  I would like government to do all it can to mitigate; then, in understanding, in mutuality of interest, in concern for the common good, our tasks will be solved.  No altered system will work a miracle.  Any wild experiment will only add to the confusion.  Our best assurance lies in efficient administration of our proven system.

The forward course of the business cycle is unmistakable.  Peoples are turning from destruction to production.  Industry has sensed the changed order and our own people are turning to resume their normal, onward way.  The call is for productive America to go on.  I know that Congress and the Administration will favor every wise Government policy to aid the resumption and encourage continued progress.

I speak for administrative efficiency, for lightened tax burdens, for sound commercial practices, for adequate credit facilities, for sympathetic concern for all agricultural problems, for the omission of unnecessary interference of Government with business, for an end to Government’s experiment in business, and for more efficient business in Government administration.  With all of this must attend a mindfulness of the human side of all activities, so that social, industrial, and economic justice will be squared with the purposes of a righteous people.

With the nation-wide induction of womanhood into our political life, we may count upon her intuitions, her refinements, her intelligence, and her influence to exalt the social order.  We count upon her exercise of the full privileges and the performance of the duties of citizenship to speed the attainment of the highest state.

I wish for an America no less alert in guarding against dangers from within than it is watchful against enemies from without.  Our fundamental law recognizes no class, no group, no section; there must be none in legislation or administration.  The supreme inspiration is the common weal.  Humanity hungers for international peace, and we crave it with all mankind.  My most reverent prayer for America is for industrial peace, with its rewards, widely and generally distributed, amid the inspirations of equal opportunity.  No one justly may deny the equality of opportunity which made us what we are.  We have mistaken unpreparedness to embrace it to be a challenge of the reality, and due concern for making all citizens fit for participation will give added strength of citizenship and magnify our achievement.

If revolution insists upon overturning established order, let other peoples make the tragic experiment.  There is no place for it in America.  When World War threatened civilization we pledged our resources and our lives to its preservation, and when revolution threatens we unfurl the flag of law and order and renew our consecration.  Ours is a constitutional freedom where the popular will is the law supreme and minorities are sacredly protected.  Our revisions, reformations, and evolutions reflect a deliberate judgment and an orderly progress, and we mean to cure our ills, but never destroy or permit destruction by force.