If we surmount our current economic difficulties, we can move ahead to a great increase [p.7] in our national income which will enable all our people to enjoy richer and fuller lives.

All of us must advance together.  One-fifth of our families now have average annual incomes of less than $850.  We must see that our gains in national income are made more largely available to those with low incomes, whose need is greatest.  This will benefit us all through providing a stable foundation of buying power to maintain prosperity.

Business, labor, agriculture, and Government, working together, must develop the policies which will make possible the realization of the full benefits of our economic system.

Our fifth goal is to achieve world peace based on principles of freedom and justice and the equality of all nations.

Twice within our generation, world wars have taught us that we cannot isolate ourselves from the rest of the world.

We have learned that the loss of freedom in any area of the world means a loss of freedom to ourselves—­that the loss of independence by any nation adds directly to the insecurity of the United States and all free nations.

We have learned that a healthy world economy is essential to world peace—­that economic distress is a disease whose evil effects spread far beyond the boundaries of the afflicted nation.

For these reasons the United States is vigorously following policies designed to achieve a peaceful and prosperous world.

We are giving, and will continue to give, our full support to the United Nations.  While that organization has encountered unforeseen and unwelcome difficulties, I am confident of its ultimate success.  We are also devoting our efforts toward world economic recovery and the revival of world trade.  These actions are closely related and mutually supporting.

We believe that the United States can be an effective force for world peace only if it is strong.  We look forward to the day when nations will decrease their armaments.  Yet so long as there remains serious opposition to the ideals of a peaceful world, we must maintain strong armed forces.

The passage of the National Security Act by the Congress at its last session was a notable step in providing for the security of this country.  A further step which I consider of even greater importance is the early provision for universal training.  There are many elements in a balanced national security program, all interrelated and necessary, but universal training should be the foundation for them all.  A favorable decision by the Congress at an early date is of world importance.  I am convinced that such action is vital to the security of this Nation and to the maintenance of its leadership.

The United States is engaged today in many international activities directed toward the creation of lasting peaceful relationships among nations.