We shall be faithful to our treaty commitments, but we shall reduce our involvement and our presence in other nations’ affairs.

To insist that other nations play a role is not a retreat from responsibility; it is a sharing of responsibility.

The result of this new policy has been not to weaken our alliances, but to give them new life, new strength, a new sense of common purpose.

Relations with our European allies are once again strong and healthy, based on mutual consultation and mutual responsibility.

We have initiated a new approach to Latin America in which we deal with those nations as partners rather than patrons.

The new partnership concept has been welcomed in Asia.  We have developed an historic new basis for Japanese-American friendship and cooperation, which is the linchpin for peace in the Pacific.

If we are to have peace in the last third of the century, a major factor will be the development of a new relationship between the United States and the Soviet Union.

I would not underestimate our differences, but we are moving with precision and purpose from an era of confrontation to an era of negotiation.

Our negotiations on strategic arms limitations and in other areas will have far greater chance for success if both sides enter them motivated by mutual self-interest rather than naive sentimentality.

It is with this same spirit that we have resumed discussions with Communist China in our talks at Warsaw.

Our concern in our relations with both these nations is to avoid a catastrophic collision and to build a solid basis for peaceful settlement of our differences.

I would be the last to suggest that the road to peace is not difficult and dangerous, but I believe our new policies have contributed to the prospect that America may have the best chance since World War II to enjoy a generation of uninterrupted peace.  And that chance will be enormously increased if we continue to have a relationship between Congress and the Executive in which, despite differences in detail, where the security of America and the peace of mankind are concerned, we act not as Republicans, not as Democrats, but as Americans.

As we move into the decade of the seventies, we have the greatest opportunity for progress at home of any people in world history.

Our gross national product will increase by $500 billion in the next 10 years.  This increase alone is greater than the entire growth of the American economy from 1790 to 1950.

The critical question is not whether we will grow, but how we will use that growth.

The decade of the sixties was also a period of great growth economically.  But in that same 10-year period we witnessed the greatest growth of crime, the greatest increase in inflation, the greatest social unrest in America in 100 years.  Never has a nation seemed to have had more and enjoyed it less.