he United States to insist
upon the maintenance throughout the world of those conditions of
fairness and of even-handed justice in the commercial dealings of the
nations with one another upon which, after all, in the last analysis,
the peace and ordered life of the world must ultimately depend.

At home also we must see to it that the men who plan and develop and
direct our business enterprises shall enjoy definite and settled
conditions of law, a policy accommodated to the freest progress. We have
set the just and necessary limits. We have put all kinds of unfair
competition under the ban and penalty of the law. We have barred
monopoly. These fatal and ugly things being excluded, we must now
quicken action and facilitate enterprise by every just means within our
choice. There will be peace in the business world, and, with peace,
revived confidence and life.

We ought both to husband and to develop our natural resources, our
mines, our forests, our water power. I wish we could have made more
progress than we have made in this vital matter; and I call once more,
with the deepest earnestness and solicitude, upon the advocates of a
careful and provident conservation, on the one hand, and the advocates
of a free and inviting field for private capital, on the other, to get
together in a spirit of genuine accommodation and agreement and set this
great policy forward at once.

We must hearten and quicken the spirit and efficiency of labor
throughout our whole industrial system by everywhere and in all
occupations doing justice to the laborer, not only by paying a living
wage but also by making all the conditions that surround labor what they
ought to be. And we must do more than justice. We must safeguard life
and promote health and safety in every occupation in which they are
threatened or imperilled. That is more than justice, and better, because
it is humanity and economy.

We must cooerdinate the railway systems of the country for national use,
and must facilitate and promote their development with a view to that
cooerdination and to their better adaptation as a whole to the life and
trade and defense of the nation. The life and industry of the country
can be free and unhampered only if these arteries are open, efficient,
and complete.

Thus shall we stand ready to meet the future as circumstance and
international policy effect their unfolding, whether the changes come
slowly or come fast and without preface.

I ha