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colonial settlers, our builders of the West, and the makers of our modern urban industrial civilization. They should be similarly guiding our present and future generations in their ventures, helping them to build an even better America -- one distinguished by even more democracy, more opportunity for all, more social justice, greater plentitude and wider distribution of economic goods, and greater and more widely shared culture.

I am glad that I came to this country some years before World War I and that I was able to become a member of the crew of the ship of the American society upon its eventful voyage during the years that have elapsed since. I have had here a wonderful time as a pioneer aviator and even a more wonderful one as an economist and teacher. I feel fortunate that I have been able to assist in a modest way in some of the advances made by the American society during this time. It was fun to carry on economic and governmental research; to exercise one's fountain pen upon many sheafs of paper that turned eventually into published reports, articles, and books; to teach at this great University and at others, helping worthy students and younger colleagues to get a foothold on life; and to assist some very able and dedicated public servants in the improvement of the processes of government and in the development of new useful programs of government activity. I have enjoyed tremendously sailing on the ship of America during this nearly half a century. My life-companion has enjoyed it fully, too. We are by no means through with adventures. At this moment we are planning new exciting voyages upon the seas of time. I am sure that we are not an exception in this respect among the senior members of this group. I am sure that they, too, in their so-called "retirement",