In that purpose we have been helped by achievements of mind and spirit.  Old truths have been relearned; untruths have been unlearned.  We have always known that heedless self-interest was bad morals; we know now that it is bad economics.  Out of the collapse of a prosperity whose builders boasted their practicality has come the conviction that in the long run economic morality pays.  We are beginning to wipe out the line that divides the practical from the ideal; and in so doing we are fashioning an instrument of unimagined power for the establishment of a morally better world.

This new understanding undermines the old admiration of worldly success as such.  We are beginning to abandon our tolerance of the abuse of power by those who betray for profit the elementary decencies of life.

In this process evil things formerly accepted will not be so easily condoned.  Hard-headedness will not so easily excuse hardheartedness.  We are moving toward an era of good feeling.  But we realize that there can be no era of good feeling save among men of good will.

For these reasons I am justified in believing that the greatest change we have witnessed has been the change in the moral climate of America.

Among men of good will, science and democracy together offer an ever-richer life and ever-larger satisfaction to the individual.  With this change in our moral climate and our rediscovered ability to improve our economic order, we have set our feet upon the road of enduring progress.

Shall we pause now and turn our back upon the road that lies ahead?  Shall we call this the promised land?  Or, shall we continue on our way?  For “each age is a dream that is dying, or one that is coming to birth.”

Many voices are heard as we face a great decision.  Comfort says, “Tarry a while.”  Opportunism says, “This is a good spot.”  Timidity asks, “How difficult is the road ahead?”

True, we have come far from the days of stagnation and despair.  Vitality has been preserved.  Courage and confidence have been restored.  Mental and moral horizons have been extended.

But our present gains were won under the pressure of more than ordinary circumstances.  Advance became imperative under the goad of fear and suffering.  The times were on the side of progress.

To hold to progress today, however, is more difficult.  Dulled conscience, irresponsibility, and ruthless self-interest already reappear.  Such symptoms of prosperity may become portents of disaster!  Prosperity already tests the persistence of our progressive purpose.

Let us ask again:  Have we reached the goal of our vision of that fourth day of March 1933?  Have we found our happy valley?

I see a great nation, upon a great continent, blessed with a great wealth of natural resources.  Its hundred and thirty million people are at peace among themselves; they are making their country a good neighbor among the nations.  I see a United States which can demonstrate that, under democratic methods of government, national wealth can be translated into a spreading volume of human comforts hitherto unknown, and the lowest standard of living can be raised far above the level of mere subsistence.