to reconsider, to restore, to correct the evil without impairing the
good, to purify and humanize every process of our common life without
weakening or sentimentalizing it. There has been something crude and
heartless and unfeeling in our haste to succeed and be great. Our
thought has been "Let every man look out for himself, let every
generation look out for itself," while we reared giant machinery which
made it impossible that any but those who stood at the levers of control
should have a chance to look out for themselves. We had not forgotten
our morals. We remembered well enough that we had set up a policy which
was meant to serve the humblest as well as the most powerful, with an
eye single to the standards of justice and fair play, and remembered it
with pride. But we were very heedless and in a hurry to be great.

We have come now to the sober second thought. The scales of heedlessness
have fallen from our eyes. We have made up our minds to square every
process of our national life again with the standards we so proudly set
up at the beginning and have always carried at our hearts. Our work is a
work of restoration.

We have itemized with some degree of particularity the things that ought
to be altered and here are some of the chief items: A tariff which cuts
us off from our proper part in the commerce of the world, violates the
just principles of taxation, and makes the Government a facile
instrument in the hands of private interests; a banking and currency
system based upon the necessity of the Government to sell its bonds
fifty years ago and perfectly adapted to concentrating cash and
restricting credits; an industrial system which, take it on all its
sides, financial as well as administrative, holds capital in leading
strings, restricts the liberties and limits the opportunities of labor,
and exploits without renewing or conserving the natural resources of the