At no period in the past 12 years have our foreign relations been in such a satisfactory condition as they are at the present time.  Our actions in the recent months have greatly strengthened the American policy of permanent peace with independence.  The attitude which our Government took and maintained toward an adjustment of European reparations, by pointing out that it wits not a political but a business problem, has demonstrated its wisdom by its actual results.  We desire to see Europe restored that it may resume its productivity in the increase of industry and its support in the advance of civilization.  We look with great gratification at the hopeful prospect of recuperation in Europe through the Dawes plan.  Such assistance as can be given through the action of the public authorities and of our private citizens, through friendly counsel and cooperation, and through economic and financial support, not for any warlike effort but for reproductive enterprise, not to provide means for unsound government financing but to establish sound business administration should be unhesitatingly provided.

Ultimately nations, like individuals, can not depend upon each other but must depend upon themselves.  Each one must work out its own salvation.  We have every desire to help.  But with all our resources we are powerless to save unless our efforts meet with a constructive response.  The situation in our own country and all over the world is one Chat can be improved only by bard work and self-denial.  It is necessary to reduce expenditures, increase savings and liquidate debts.  It is in this direction that there lies the greatest hope of domestic tranquility and international peace.  Our own country ought to finish the leading example in this effort.  Our past adherence to this policy, our constant refusal to maintain a military establishment that could be thought to menace the security of others, our honorable dealings with other nations whether great or small, has left us in the almost constant enjoyment of peace.

It is not necessary to stress the general desire of all the people of this country for the promotion of peace.  It is the leading principle of all our foreign relations.  We have on every occasion tried to cooperate to this end in all ways that were consistent with our proper independence and our traditional policies.  It will be my constant effort to maintain these principles, and to reinforce them by all appropriate agreements and treaties.  While we desire always to cooperate and to help, we are equally determined to be independent and free.  Right and truth and justice and humanitarian efforts will have the moral support of this country all over the world.  But we do not wish to become involved in the political controversies of others.  Nor is the country disposed to become a member of the League of Nations or to assume the obligations imposed by its covenant.

INTERNATIONAL COURT