President Hoover, Mr. Chief Justice, My Friends: 胡佛总统，首席大法官先生，朋友们：
This is a day of national consecration. And, I am certain that on this day my fellow Americans expect that on my induction into the Presidency I will address them with a candor and a decision which the present situation of our people impels. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing conditions in our country today. 今天是全国奉献的日子。我确信，在今天这个日子里，我的美国同胞们期望我在就职时，以人民当前处境所要求的坦率和果断向他们发表讲话。现在正是讲真话、讲全部真话、坦率而大胆地讲话的时候。我们不必回避诚实地面对我们国家今天的状况。
This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and of vigor has met with that understanding and support of the people themselves which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days. 这个伟大的国家将一如既往地经受考验，将复兴并繁荣起来。因此，首先让我声明我坚定的信念：我们唯一需要害怕的就是害怕本身——那种无名的、无理的、毫无根据的恐惧，它使我们无法将退却转化为前进的必要努力。在我们国家生活的每一个黑暗时刻，坦率而充满活力的领导都得到了人民本身的理解和支持，这对胜利至关重要。我相信，在这些关键时刻，你们将再次给予领导以支持。
In such a spirit on my part and on yours we face our common difficulties. They concern, thank God, only material things. Values have shrunk to fantastic levels; taxes have risen; our ability to pay has fallen; government of all kinds is faced by serious curtailment of income; the means of exchange are frozen in the currents of trade. 我们以这样的精神共同面对我们的困难。感谢上帝，它们只涉及物质方面。价值暴跌到荒谬的水平；税收增加了；我们的支付能力下降了；各级政府面临严重的收入削减；贸易流通中的交换手段冻结了。
The withered leaves of industrial enterprise lie on every side; farmers find no markets for their produce; and the savings of many years in thousands of families are gone. 工业企业的枯叶到处散落；农民找不到农产品的市场；成千上万个家庭多年的积蓄化为乌有。
More important, a host of unemployed citizens face the grim problem of existence, and an equally great number toil with little return. Only a foolish optimist can deny the dark realities of the moment. 更重要的是，大量失业公民面临着严峻的生存问题，同样数量的人辛勤劳作却收入微薄。只有愚蠢的乐观主义者才能否认此刻的黑暗现实。
And yet, our distress comes from no failure of substance. We are stricken by no plague of locusts. Compared with the perils which our forefathers conquered because they believed and were not afraid, we have still much to be thankful for. Nature still offers her bounty and human efforts have multiplied it. 然而，我们的困境并非源于物质的失败。我们没有遭受蝗灾。与我们先辈因信仰和无畏而战胜的危险相比，我们仍有很多值得感恩的地方。大自然仍然赐予她的恩惠，人类的努力使它倍增。
Plenty is at our doorstep, but a generous use of it languishes in the very sight of the supply. Primarily this is because the rulers of the exchange of mankind's goods have failed through their own stubbornness and their own incompetence, have admitted their failure, and have abdicated. Practices of the unscrupulous money changers stand indicted in the court of public opinion, rejected by the hearts and minds of men. 丰裕就在我们的门口，但它的慷慨使用在供应面前却停滞不前。这主要是因为人类商品交换的统治者们因自身的顽固和无能而失败，承认了失败并放弃了职责。肆无忌惮的货币兑换者的行径在公众舆论的法庭上受到谴责，遭到人们内心的唾弃。
True they have tried, but their efforts have been cast in the pattern of an outworn tradition. Faced by failure of credit they have proposed only the lending of more money. Stripped of the lure of profit by which to induce our people to follow their false leadership, they have resorted to exhortations, pleading tearfully for restored confidence. 确实，他们尝试过，但他们的努力陷入了陈旧传统的模式。面对信贷失败，他们只提出贷款更多的钱。在失去了诱导人民追随他们虚假领导的利润诱惑后，他们诉诸劝告，含泪恳求恢复信心。
They only know the rules of a generation of self-seekers. They have no vision, and when there is no vision the people perish. 他们只知道一代人的自私自利的规则。他们没有远见，而没有远见，人民就会灭亡。
Yes, the money changers have fled from their high seats in the temple of our civilization. We may now restore that temple to the ancient truths. The measure of the restoration lies in the extent to which we apply social values more noble than mere monetary profit. 是的，货币兑换者已经逃离了他们在我们文明圣殿中的高位。我们现在可以将这座圣殿恢复到古老的真理。恢复的程度取决于我们在多大程度上应用比单纯金钱利润更高尚的社会价值观。
Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy and the moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. These dark days, my friends, will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves and to our fellow men. 幸福不在于仅仅拥有金钱；而在于成就的喜悦，在于创造性努力的激动。工作的喜悦和道德激励不再必须在追逐短暂利润的疯狂中被遗忘。朋友们，如果这些黑暗的日子能教会我们，我们真正的命运不是被服务，而是服务于自己和同胞，那么它们将值得我们付出的一切代价。
Recognition of that falsity of material wealth as the standard of success goes hand in hand with the abandonment of the false belief that public office and high political position are to be valued only by the standards of pride of place and personal profit. And there must be an end to a conduct in banking and in business which too often has given to a sacred trust the likeness of callous and selfish wrongdoing. 认识到物质财富作为成功标准的虚假性，与摒弃公共职位和高级政治地位只应以地位和个人利益为标准来衡量的错误信念是相辅相成的。银行业和商业中的某些行为必须结束，这些行为常常使神圣的信任变得冷酷无情和自私自利。
Small wonder that confidence languishes, for it thrives only on honesty, on honor, on the sacredness of obligations, on faithful protection, and on unselfish performance. Without them it cannot live. Restoration calls, however, not for changes in ethics alone. This Nation is asking for action, and action now. 难怪信心衰退了，因为它只在诚实、荣誉、义务的神圣性、忠实的保护和无私的履行中茁壮成长。没有这些，它就无法生存。然而，恢复不仅仅需要伦理上的改变。这个国家要求行动，现在就行动。
Our greatest primary task is to put people to work. This is no unsolvable problem if we face it wisely and courageously. It can be accomplished in part by direct recruiting by the Government itself, treating the task as we would treat the emergency of a war, but at the same time, through this employment, accomplishing greatly needed projects to stimulate and reorganize the use of our great natural resources. 我们最首要的任务是让人民就业。如果我们明智而勇敢地面对这个问题，这并非无法解决。这在一定程度上可以通过政府直接招募来实现，把这项任务当作战争紧急情况来对待，但同时通过这种就业完成急需的项目，以刺激和重新组织我们丰富自然资源的利用。
Hand in hand with that we must frankly recognize the overbalance of population in our industrial centers and, by engaging on a national scale in a redistribution, endeavor to provide a better use of the land for those best fitted for the land. Yes, the task can be helped by definite efforts to raise the values of agricultural products and with this the power to purchase the output of our cities. 与此同时，我们必须坦率地认识到工业中心人口过多的问题，并在全国范围内进行重新分配，努力为最适合土地的人提供更好的土地利用。是的，通过明确努力提高农产品价值以及随之而来的购买城市产品的能力，可以帮助解决这个问题。
It can be helped by preventing realistically the tragedy of the growing loss through foreclosure of our small homes and our farms. It can be helped by insistence that the Federal, the State, and the local governments act forthwith on the demand that their cost be drastically reduced. It can be helped by the unifying of relief activities which today are often scattered, uneconomical, unequal. 通过切实防止因取消抵押品赎回权而造成的小家庭和农场日益严重的损失，可以帮助解决这个问题。通过坚持要求联邦、州和地方政府立即按照大幅削减成本的要求采取行动，可以帮助解决这个问题。通过统一今天常常分散、不经济、不平等的救济活动，可以帮助解决这个问题。
It can be helped by national planning for and supervision of all forms of transportation and of communications and other utilities that have a definitely public character. There are many ways in which it can be helped, but it can never be helped by merely talking about it. We must act. We must act quickly. 通过对所有具有明确公共性质的交通、通讯和其他公用事业进行国家规划和监督，可以帮助解决这个问题。有许多方法可以帮助解决这个问题，但仅仅谈论它永远无法解决。我们必须行动。我们必须迅速行动。
Finally, in our progress toward a resumption of work we require two safeguards against a return of the evils of the old order: there must be a strict supervision of all banking and credits and investments. There must be an end to speculation with other people's money; and there must be provision for an adequate but sound currency. 最后，在我们恢复工作的过程中，我们需要两项保障措施来防止旧秩序的弊端卷土重来：必须严格监督所有银行、信贷和投资。必须结束用他人资金进行投机的行为；必须提供足够但健全的货币。
These, my friends, are the lines of attack. I shall presently urge upon a new Congress, in special session, detailed measures for their fulfillment, and I shall seek the immediate assistance of the forty-eight States. 朋友们，这些就是我们的行动路线。我将很快向新国会特别会议敦促详细措施以实现这些目标，并寻求四十八个州的立即协助。
Through this program of action we address ourselves to putting our own national house in order and making income balance outgo. Our international trade relations, though vastly important, are in point of time and necessity secondary to the establishment of a sound national economy. I favor as a practical policy the putting of first things first. I shall spare no effort to restore world trade by international economic readjustment, but the emergency at home cannot wait on that accomplishment. 通过这项行动计划，我们致力于整顿我们自己的国家事务，使收入与支出平衡。我们的国际贸易关系虽然极为重要，但在时间和必要性上，次于建立健全的国民经济。我赞成把首要事情放在首位的务实政策。我将不遗余力地通过国际经济调整来恢复世界贸易，但国内的紧急情况不能等待这一成就。
The basic thought that guides these specific means of national recovery is not narrowly nationalistic. It is the insistence, as a first considerations, upon the interdependence of the various elements in and parts of the United States of America—a recognition of the old and permanently important manifestation of the American spirit of the pioneer. It is the way to recovery. It is the immediate way. It is the strongest assurance that recovery will endure. 指导这些具体国家复苏手段的基本思想并非狭隘的民族主义。它首先强调美利坚合众国各要素和各部分之间的相互依存——承认开拓精神这一古老而永久重要的美国精神表现。这是复苏之路。这是捷径。这是复苏将持久的最有力保证。
In the field of world policy I would dedicate this Nation to the policy of the good neighbor—the neighbor who resolutely respects himself and, because he does so, respects the rights of others—the neighbor who respects his obligations and respects the sanctity of his agreements in and with a world of neighbors. 在世界政策领域，我将把这个国家奉献给睦邻政策——坚决尊重自己的邻居，正因为如此，也尊重他人的权利——尊重自己义务和尊重与世界各国协议神圣性的邻居。
If I read the temper of our people correctly, we now realize as we have never realized before our interdependence on each other; that we cannot merely take but we must give as well; that if we are to go forward, we must move as a trained and loyal army willing to sacrifice for the good of a common discipline, because without such discipline no progress can be made, no leadership becomes effective. 如果我正确理解我们人民的心情，我们现在比以往任何时候都更意识到我们彼此之间的相互依存；我们不能只索取，还必须给予；如果我们要前进，我们必须像一支训练有素、忠诚的军队一样行动，愿意为共同纪律的利益做出牺牲，因为没有这样的纪律，就无法取得进步，领导也无法有效。
We are, I know, ready and willing to submit our lives and our property to such discipline, because it makes possible a leadership which aims at the larger good. This I propose to offer, pledging that the larger purposes will bind upon us, bind upon us all as a sacred obligation with a unity of duty hitherto evoked only in times of armed strife. 我知道，我们准备并愿意将我们的生命和财产置于这样的纪律之下，因为这使旨在更大利益的领导成为可能。我提议提供这种领导，保证这些更大的目标将约束我们，将我们所有人作为神圣的义务约束在一起，这种义务的统一性迄今为止只有在武装冲突时期才被唤起。
With this pledge taken, I assume unhesitatingly the leadership of this great army of our people dedicated to a disciplined attack upon our common problems. 有了这个承诺，我毫不犹豫地承担起这支伟大人民军队的领导权，致力于对我们共同的问题进行有纪律的攻击。
Action in this image, action to this end is feasible under the form of government which we have inherited from our ancestors. Our Constitution is so simple, so practical, that it is possible always to meet extraordinary needs by changes in emphasis and arrangement without loss of essential form. That is why our constitutional system has proved itself the most superbly enduring political mechanism the modern world has ever seen. It has met every stress of vast expansion of territory, of foreign wars, of bitter internal strife, of world relations. 在我们从先辈那里继承的政府形式下，按照这种形象采取行动、实现这一目标是可行的。我们的宪法如此简单、如此实用，以至于总是可以通过改变重点和安排来满足特殊需求，而不失去基本形式。这就是为什么我们的宪政制度被证明是现代世界所见过的最卓越持久的政治机制。它经受住了领土大幅扩张、对外战争、激烈内战和世界关系的每一次压力。
And, it is to be hoped that the normal balance of Executive and legislative authority may be wholly equal, wholly adequate, to meet the unprecedented task before us. But it may be that an unprecedented demand and need for undelayed action may call for temporary departure from that normal balance of public procedure. 希望行政和立法权力的正常平衡可能完全平等、完全足以应对我们面前前所未有的任务。但可能出现前所未有的需求，需要立即行动，这可能要求暂时偏离公共程序的正常平衡。
I am prepared under my constitutional duty to recommend the measures that a stricken Nation in the midst of a stricken world may require. These measures, or such other measures as the Congress may build out of its experience and wisdom, I shall seek, within my constitutional authority, to bring to speedy adoption. 我准备根据我的宪法职责，建议一个受灾国家在受灾世界中可能需要的措施。这些措施，或者国会可能根据其经验和智慧制定的其他措施，我将在我的宪法授权范围内寻求迅速通过。
But in the event that the Congress shall fail to take one of these two courses, in the event that the national emergency is still critical, I shall not evade the clear course of duty that will then confront me. I shall ask the Congress for the one remaining instrument to meet the crisis—broad Executive power to wage a war against the emergency, as great as the power that would be given to me if we were in fact invaded by a foreign foe. 但如果国会未能采取这两种方案中的任何一种，如果国家紧急情况仍然严重，我不会回避届时将摆在我面前的明确职责。我将要求国会提供应对危机的最后一个工具——广泛的行政权力来应对紧急情况，就像我们实际上受到外国敌人入侵时给予我的权力一样大。
For the trust reposed in me I will return the courage and the devotion that befit the time. I can do no less. 对于赋予我的信任，我将以符合时代的勇气和奉献来回报。我只能做到这一点。
We face the arduous days that lie before us in the warm courage of national unity; with the clear consciousness of seeking old and precious moral values; with the clean satisfaction that comes from the stern performance of duty by old and young alike. We aim at the assurance of a rounded, a permanent national life. 我们在民族团结的温暖勇气中面对摆在我们面前的艰难日子；怀着寻求古老而宝贵的道德价值观的明确意识；怀着无论老少都严格履行职责所带来的纯粹满足感。我们的目标是确保国家生活的全面和持久。
We do not distrust the future of essential democracy. The people of the United States have not failed. In their need they have registered a mandate that they want direct, vigorous action. They have asked for discipline and direction under leadership. They have made me the present instrument of their wishes. In the spirit of the gift, I take it. 我们不怀疑基本民主的未来。美国人民没有失败。在他们的需要中，他们表达了要求直接、有力行动的授权。他们要求在领导下的纪律和方向。他们使我成为他们意愿的当前工具。我怀着这份礼物的精神接受它。
In this dedication of a Nation we humbly ask the blessing of God. May He protect each and every one of us. May He guide me in the days to come. 在这个国家的奉献中，我们谦卑地祈求上帝的祝福。愿他保护我们每一个人。愿他在未来的日子里指引我。