Today, by the grace of God, we stand a free and prosperous nation with greater possibilities for the future than any people ever had before in the history of the world.

We are now, in this year of 1950, nearing the midpoint of the 20th century.

The first half of this century will be known as the most turbulent and eventful period in recorded history.  The swift pace of events promises to make the next 50 years decisive in the history of man on this planet.

The scientific and industrial revolution which began two centuries ago has, in the last 50 years, caught up the peoples of the globe in a common destiny.  Two world-shattering wars have proved that no corner of the earth can be isolated from the affairs of mankind.

The human race has reached a turning point.  Man has opened the secrets of nature and mastered new powers.  If he uses them wisely, he can reach new heights of civilization.  If he uses them foolishly, they may destroy him.

Man must create the moral and legal framework for the world which will insure that his new powers are used for good and not for evil.  In shaping the outcome, the people of the United States will play a leading role.

Among all the great changes that have occurred in the last 50 years, none is more important than the change in the position of the United States in world affairs.  Fifty years ago we were a country devoted largely to our own internal affairs.  Our industry was growing, and we had new interests in the Far East and in the Caribbean, but we were primarily concerned with the development of vast areas of our own continental territory.

Today, our population has doubled.  Our national production has risen from about $50 billion, in terms of today’s prices, to the staggering figure of $255 billion a year.  We have a more productive economic system and a greater industrial potential than any other nation on the globe.  Our standard of living is an inspiration for all other peoples.  Even the slightest changes in our economic and social life have their effect on other countries all around the world.

Our tremendous strength has brought with it tremendous responsibilities.  We have moved from the outer edge to the center of world affairs.  Other nations look to us for a wise exercise of our economic and military strength, and for vigorous support of the ideals of representative government and a free society.  We will not fail them.

Our objective in the world is peace.  Our country has joined with others in the task of achieving peace.  We know now that this is not an easy task, or a short one.  But we are determined to see it through.  Both of our great political parties are committed to working together—­and I am sure they will continue to work together—­to achieve this end.  We are prepared to devote our energy and our resources to this task, because we know that our own security and the future of mankind are at stake.