understanding is its fountain source. I would like to acclaim an era of
good feeling amid dependable prosperity and all the blessings which
attend.

It has been proved again and again that we cannot, while throwing our
markets open to the world, maintain American standards of living and
opportunity, and hold our industrial eminence in such unequal
competition. There is a luring fallacy in the theory of banished
barriers of trade, but preserved American standards require our higher
production costs to be reflected in our tariffs on imports. Today, as
never before, when peoples are seeking trade restoration and expansion,
we must adjust our tariffs to the new order. We seek participation in
the world's exchanges, because therein lies our way to widened
influence and the triumphs of peace. We know full well we cannot sell
where we do not buy, and we cannot sell successfully where we do not
carry. Opportunity is calling not alone for the restoration, but for a
new era in production, transportation and trade. We shall answer it
best by meeting the demand of a surpassing home market, by promoting
self-reliance in production, and by bidding enterprise, genius, and
efficiency to carry our cargoes in American bottoms to the marts of the
world.

We would not have an America living within and for herself alone, but
we would have her self-reliant, independent, and ever nobler, stronger,
and richer. Believing in our higher standards, reared through
constitutional liberty and maintained opportunity, we invite the world
to the same heights. But pride in things wrought is no reflex of a
completed task. Common welfare is the goal of our national endeavor.
Wealth is not inimical to welfare; it ought to be its friendliest
agency. There never can be equality of rewards or possessions so long