enforce this agreement by the authority of government. The so-
called anti-trust laws were intended to prevent the creation of
monopolies. That purpose of the anti-trust laws must be continued,
but these laws were never intended to encourage the kind of unfair
competition that results in long hours, starvation wages and
overproduction.

The same principle applies to farm products and to transportation
and every other field of organized private industry.

We are working toward a definite goal, which is to prevent the
return of conditions which came very close to destroying what we
call modern civilization. The actual accomplishment of our purpose
cannot be attained in a day. Our policies are wholly within
purposes for which our American constitutional government was
established 150 years ago.

I know that the people of this country will understand this and
will also understand the spirit in which we are undertaking this
policy. I do not deny that we may make mistakes of procedure as we
carry out the policy. I have no expectation of making a hit every
time I come to bat. What I seek is the highest possible batting
average, not only for myself but for the team. Theodore Roosevelt
once said to me: "If I can be right 75 percent of the time I shall
come up to the fullest measure of my hopes."

Much has been said of late about federal finances and inflation,
the gold standard, etc. Let me make the facts very simple and my
policy very clear. In the first place, government credit and
government currency are really one and the same thing. Behind