The history of taxation shows that taxes which are inherently excessive are not paid. The high rates inevitably put pressure upon the taxpayer to withdraw his capital from productive business.

Values will be adjusted, and enterprising people will pick up the wrecks from less competent people.

The Government's business is in sound condition.

Gentlemen prefer bonds.

A balanced program for tax reform based upon the common sense idea of lowering taxes out of surplus revenues.

Every man wants to connect his life with something he thinks eternal.

Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate.

Any man of energy and initiative can get what he wants out of life. But when initiative is crippled by legislation or by a tax system which denies him the right to receive a reasonable share of his earnings, then he will no longer exert himself and the country will be deprived of the energy on which its continued greatness depends.

Prosperity of the middling and lower orders depends upon the fortunes and light taxes of the rich.

There is no cause to worry. The high tide of prosperity will continue.

I see nothing in the present situation that is either menacing or warrants pessimism... I have every confidence that there will be a revival of activity in the spring, and that during this coming year the country will make steady progress.

Liquidate labor, liquidate stocks, liquidate the farmers, liquidate real estate. It will purge the rottenness out of the system. High costs of living and high living will come down. People will work harder, live a more moral life. Values will be adjusted, and enterprising people will pick up from less competent people.

I see nothing in the present situation that is either menacing or warrants pessimism.

A nation is not in danger of financial disaster merely because it owes itself money.

If the spirit of business adventure is dulled, this country will cease to hold the foremost position in the world.

Give tax breaks to large corporations, so that money can trickle down to the general public, in the form of extra jobs.

Strong men have sound ideas and the force to make these ideas effective.