What this will involve is clear. It will involve the utmost practicable co-operation in counsel and action with the Governments now at war with Germany, and, as incident to that, the extension to those Governments of the most liberal financial credits, in order that our resources may so far as possible be added to theirs.
Resources must be organized.
It will involve the organization and mobilization of all the material resources of the country to supply the materials of war and serve the incidental needs of the nation in the most abundant and yet the most economical and efficient way possible.
It will involve the immediate full equipment of the navy in all respects, but particularly in supplying it with the best means of dealing with the enemy's submarines.
A great army must be raised.
It will involve the immediate addition to the armed forces of the United States, already provided for by law in case of war, of at least 500,000 men, who should, in my opinion, be chosen upon the principle of universal liability to service, and also the authorization of subsequent additional increments of equal force so soon as they may be needed and can be handled in training.
The Government will need adequate credits.
It will involve also, of course, the granting of adequate credits to the Government, sustained, I hope, so far as they can equitably be sustained by the present generation, by well-conceived taxation.
I say sustained so far as may be equitable by taxation, because it seems to me that it would be most unwise to base the credits, which will now be necessary, entirely on money borrowed. It is our duty, I most respectfully urge, to protect our people, so far as we may, against the very serious hardships and evils which would be likely to arise out of the inflation which would be produced by vast loans.
Nations must obtain supplies from us.