The first duty of our statesmanship is to bring capital and man-power together. Dictatorships do this by main force. By using main force they apparently succeed at it--for the moment. However we abhor their methods, we are compelled to admit that they have obtained substantial utilization of all their material and human resources. Like it or not, they have solved, for a time at least, the problem of idle men and idle capital. Can we compete with them by boldly seeking methods of putting idle men and idle capital together and, at the same time, remain within our American way of life, within the Bill of Rights, and within the bounds of what is, from our point of view, civilization itself? We suffer from a great unemployment of capital. Many people have the idea that as a nation we are overburdened with debt and are spending more than we can afford. That is not so. Despite our Federal Government expenditures the entire debt of our national economic system, public and private together, is no larger today than it was in 1929, and the interest thereon is far less than it was in 1929. The object is to put capital--private as well as public--to work. We want to get enough capital and labor at work to give us a total turnover of business, a total national income, of at least eighty billion dollars a year. At that figure we shall have a substantial reduction of unemployment; and the Federal Revenues will be sufficient to balance the current level of cash expenditures on the basis of the existing tax structure. That figure can be attained, working within the framework of our traditional profit system. The factors in attaining and maintaining that amount of national income are many and complicated. They include more widespread understanding among business men of many changes which world conditions and technological improvements have brought to our economy over the last twenty years--changes in the interrelationship of price and volume and employment, for example--changes of the kind in which business men are now educating themselves through excellent opportunities like the so-called "monopoly investigation." They include a perfecting of our farm program to protect farmers' income and consumers' purchasing power from alternate risks of crop gluts and crop shortages. They include wholehearted acceptance of new standards of honesty in our financial markets. They include reconcilement of enormous, antagonistic interests--some of them long in litigation--in the railroad and general transportation field. They include the working out of new techniques--private, state and federal--to protect the public interest in and to develop wider markets for electric power. They include a revamping of the tax relationships between federal, state and local units of government, and consideration of relatively small tax increases to adjust inequalities without interfering with the aggregate income of the American people.