“The liberty of a democracy is not safe if the people tolerated the growth of private power to a point where it becomes stronger than the democratic state itself. That in its essence is fascism: ownership of government by an individual, by a group, or any controlling private power.”

“The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is fascism -- ownership of government by an individual, by a group, or by any other controlling private power.... Among us today a concentration of private power without equal in history is growing.”

“To the Congress:Unhappy events abroad have retaught us two simple truths about the liberty of a democratic people.The first truth is that the liberty of a democracy is not safe if the people tolerate the growth of private power to a point where it becomes stronger than their democratic state itself. That, in its essence, is Fascism—ownership of Government by an individual, by a group, or by any other controlling private power.The second truth is that the liberty of a democracy is not safe if its business system does not provide employment and produce and distribute goods in such a way as to sustain an acceptable standard of living.Both lessons hit home.Among us today a concentration of private power without equal in history is growing.This concentration is seriously impairing the economic effectiveness of private enterprise as a way of providing employment for labor and capital and as a way of assuring a more equitable distribution of income and earnings among the people of the nation as a whole.”

“Today, when a concerted effort is made to obliterate this point, it cannot be repeated too often that the Constitution is a limitation on the government, not on private individuals -- that it does not prescribe the conduct of private individuals, only the conduct of the government -- that it is not a charter _for_ government power, but a charter of the citizen's protection _against_ the government.”

“When states are democratically governed according to law, there are no demagogues, and the best citizens are securely in the saddle; but where the laws are not sovereign, there you find demagogues. The people become a monarch... such people, in its role as a monarch, not being controlled by law, aims at sole power and becomes like a master.”

“Any democratic government, whether threatened by real or perceived enemies, can succumb to Fascism if its people permit the slow or precipitate undoing, by executive or legislative fiat, of their civil liberties.”