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That loved me, and alone, on shore, and when. And manners, climates, councils, governments,. Gleams that untravell'd world whose margin fades.

Virgil - Wikiquote

As tho' to breathe were life! Life piled on life. For some three suns to store and hoard myself,. This is my son, mine own Telemachus,. There lies the port; the vessel puffs her sail:. There gloom the dark, broad seas. My mariners,. Souls that have toil'd, and wrought, and thought with me—.

Daring Rewarded [To Find and Not to Yield]

Free hearts, free foreheads—you and I are old;. Death closes all: but something ere the end,. The long day wanes: the slow moon climbs: the deep.


Moans round with many voices. Come, my friends,. We are not now that strength which in old days. Even today, what price will we pay before we have assured full opportunity to millions of Negro Americans? In the last five years we have done more to assure equality to our Negro citizens and to help the deprived, both white and black, than in the hundred years before that time. But much, much more remains to be done. For there are millions of Negroes untrained for the simplest of jobs, and thousands every day denied their full and equal rights under the law; and the violence of the disinherited, the insulted and the injured, looms over the streets of Harlem and of Watts and Southside Chicago.

But a Negro American trains as an astronaut, one of mankind's first explorers into outer space; another is the chief barrister of the United States government, and dozens sit on the benches of our court; and another, Dr. Martin Luther King, is the second man of African descent to win the Nobel Peace Prize for his non-violent efforts for social justice between all of the races. We have passed laws prohibiting discrimination in education, in employment, in housing; but these laws alone cannot overcome the heritage of centuries — of broken families and stunted children, and poverty and degradation and pain.

So the road toward equality of freedom is not easy, and great cost and danger march alongside all of us. We are committed to peaceful and non-violent change and that is important for all to understand — though change is unsettling. Still, even in the turbulence of protest and struggle is greater hope for the future, as men learn to claim and achieve for themselves the rights formerly petitioned from others. And most important of all, all the panoply of government power has been committed to the goal of equality before the law — as we are now committing ourselves to achievement of equal opportunity in fact.

We must recognize the full human equality of all of our people — before God, before the law, and in the councils of government.


We must do this, not because it is economically advantageous — although it is; not because the laws of God command it — although they do; not because people in other lands wish it so. We must do it for the single and fundamental reason that it is the right thing to do. We recognize that there are problems and obstacles before the fulfillment of these ideals in the United States as we recognize that other nations, in Latin America and in Asia and in Africa have their own political, economic, and social problems, their unique barriers to the elimination of injustices.

In some, there is concern that change will submerge the rights of a minority, particularly where that minority is of a different race than that of the majority. We in the United States believe in the protection of minorities; we recognize the contributions that they can make and the leadership they can provide; and we do not believe that any people — whether majority or minority, or individual human beings — are "expendable" in the cause of theory or policy. We recognize also that justice between men and nations is imperfect, and that humanity sometimes progresses very slowly indeed.

All do not develop in the same manner and at the same pace. Nations, like men, often march to the beat of different drummers, and the precise solutions of the United States can neither be dictated nor transplanted to others, and that is not our intention. What is important however is that all nations must march toward increasing freedom; toward justice for all; toward a society strong and flexible enough to meet the demands of all of its people, whatever their race, and the demands of a world of immense and dizzying change that face us all.

In a few hours, the plane that brought me to this country crossed over oceans and countries which have been a crucible of human history.

In minutes we traced migrations of men over thousands of years; seconds, the briefest glimpse, and we passed battlefields on which millions of men once struggled and died. We could see no national boundaries, no vast gulfs or high walls dividing people from people; only nature and the works of man - homes and factories and farms — everywhere reflecting man's common effort to enrich his life. Everywhere new technology and communications bring men and nations closer together, the concerns of one inevitably become the concerns of all.

And our new closeness is stripping away the false masks, the illusion of differences which is at the root of injustice and hate and war. Only earthbound man still clings to the dark and poisoning superstition that his world is bounded by the nearest hill, his universe ends at river's shore, his common humanity is enclosed in the tight circle of those who share his town or his views and the color of his skin. It is your job, the task of the young people in this world to strip the last remnants of that ancient, cruel belief from the civilization of man.

Each nation has different obstacles and different goals, shaped by the vagaries of history and of experience. Yet as I talk to young people around the world I am impressed not by the diversity but by the closeness of their goals, their desires, and their concerns and their hope for the future.

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There is discrimination in New York, the racial inequality of apartheid in South Africa, and serfdom in the mountains of Peru. People starve to death in the streets of India; a former Prime Minister is summarily executed in the Congo; intellectuals go to jail in Russia; and thousands are slaughtered in Indonesia; wealth is lavished on armaments everywhere in the world. These are different evils; but they are the common works of man.

They reflect the imperfections of human justice, the inadequacy of human compassion, the defectiveness of our sensibility toward the sufferings of our fellows; they mark the limit of our ability to use knowledge for the well-being of our fellow human beings throughout the world. And therefore they call upon common qualities of conscience and indignation, a shared determination to wipe away the unnecessary sufferings of our fellow human beings at home and around the world. It is these qualities which make of our youth today the only true international community. More than this I think that we could agree on what kind of a world we want to build.

It would be a world of independent nations, moving toward international community, each of which protected and respected the basic human freedoms. It would be a world which demanded of each government that it accept its responsibility to insure social justice.

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It would be a world of constantly accelerating economic progress — not material welfare as an end in of itself, but as a means to liberate the capacity of every human being to pursue his talents and to pursue his hopes. It would, in short, be a world that we would all be proud to have built. Just to the North of here are lands of challenge and of opportunity — rich in natural resources, land and minerals and people.

Yet they are also lands confronted by the greatest odds — overwhelming ignorance, internal tensions and strife, and great obstacles of climate and geography. Many of these nations, as colonies, were oppressed and were exploited. Yet they have not estranged themselves from the broad traditions of the West; they are hoping and they are gambling their progress and their stability on the chance that we will meet our responsibilities to them, to help them overcome their poverty. In the world we would like to build, South Africa could play an outstanding role, and a role of leadership in that effort.

This country is without question a preeminent repository of the wealth and the knowledge and the skill of the continent. Here are the greater part of Africa's research scientists and steel production, most of its reservoirs of coal and of electric power. Many South Africans have made major contributions to African technical development and world science; the names of some are known wherever men seek to eliminate the ravages of tropical disease and of pestilence. In your faculties and councils, here in this very audience, are hundreds and thousands of men and women who could transform the lives of millions for all time to come.

But the help and leadership of South Africa or of the United States cannot be accepted if we — within our own countries or in our relationships with others — deny individual integrity, human dignity, and the common humanity of man. If we would lead outside our own borders; if we would help those who need our assistance; if we would meet our responsibilities to mankind; we must first, all of us, demolish the borders which history has erected between men within our own nations — barriers of race and religion, social class and ignorance.

Our answer is the world's hope; it is to rely on youth. The cruelties and the obstacles of this swiftly changing planet will not yield to obsolete dogmas and outworn slogans. It cannot be moved by those who cling to a present which is already dying, who prefer the illusion of security to the excitement and danger which comes with even the most peaceful progress. This world demands the qualities of youth: not a time of life but a state of mind, a temper of the will, a quality of imagination, a predominance of courage over timidity, of the appetite for adventure over the life of ease — a man like the Chancellor of this University.

It is a revolutionary world that we all live in; and thus, as I have said in Latin America and Asia and in Europe and in my own country, the United States, it is the young people who must take the lead. Thus you, and your young compatriots everywhere have had thrust upon you a greater burden of responsibility than any generation that has ever lived. First is the danger of futility; the belief there is nothing one man or one woman can do against the enormous array of the world's ills — against misery, against ignorance, or injustice and violence.

Yet many of the world's great movements, of thought and action, have flowed from the work of a single man. From Wall Street to Washington — here's a look at the winners and losers of Your finances? Travel plans? But what lies ahead is probably a return to more-desirable normalized relationships between lower-risk and higher-risk bonds, and among all asset classes.

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Bond-fund inflow data show the money eventually chased performance in , thus pushing prices up and tightening yields. Total Return added Successful high-yield managers sunk new cash into the bonds of companies that were sharply discounted due to general credit market malaise, but whose underlying fundamentals -- steady leadership, sound balance sheets, necessary cost-cutting, earnings power, and liquidity -- made for smart longer-term buys, or at the least, a short-term deal not to be passed up.

The fund was up The gain was padded with a Most bond managers don't expect the high-yield category to implode in , even after such an off-the-charts year, but the window for buying more prospective winners at a triple-digit discount has likely closed. According to Barclays Capital data, the average yield difference, or risk premium, between high-yield corporate bonds and Treasurys stood at basis points, or 6.

Compare that to the average 2, basis points, or 20 percentage points, for spreads a year earlier. Historically, over has been a great decision [to buy] time and time again," Wright said.