No Group And No Government Can Properly

For Every Advance That The Japanese Have Made Since They Started Their Frenzied Career Of Conquest, They Have Had To Pay A Very Heavy Toll In Warships, In Transports, In Planes, And In Men. They Are Feeling The Effects Of Those Losses.

The Essential Qualities Of A True Pan Americanism Must Be The Same As Those Which Constitute A Good Neighbor; Namely, Mutual Understanding, And Through Such Understanding, A Sympathetic Appeciation Of The Other's Point Of View. It Is Only In This Manner That We Can Hope To Build Up A System Of Which Confidence, Friendship, And Good Will Are The Cornerstones.

We Know That Enduring Peace Cannot Be Bought At The Cost Of Other People's Freedom.

[d]rilling And Arming, When Carried On On A National Scale, Excite Whole Populations To Frenzies Which End In War.

Buying And Selling Securities On The Stock Exchange Do Not Start New Industries. Big Business Never Starts Anything New. It Merely Absorbs, Consolidates And Profits At The Expense Of Others.