We have admitted," he said, "that on the one side, and on the other side, we were talking theories and making politics without a sufficient knowledge of the facts upon which we were acting." He added that he hoped he could find men for the commission who will "see the facts and state facts, no matter whose opinion chooses facts contradict."
The President said:
"It is a matter of sincere gratification to me that I can come and address an association of this sort, and yet I feel that there is a certain drawback to the present occasion. That drawback consists of the fact that it occurs in the midst of a political campaign, and nothing so seriously interrupts or interferes with the serious and sincere interest of public questions as a real campaign.
"I want to say to you at the outset that I believe in party action, but that I have a supreme contempt for partisan action; that I believe that it is necessary for men to concert more together in organized cooperation by party, but that whenever party feeling touches any one of the passions that work against the general interest it is altogether to be condemned...
"What I have come to say to you today, therefore, I would wish to say..."  It is the atmosphere from which all the passions of passions have been carried away. For I want to speak to you about the business situation of the world. It has been conceived. 