Socialism proposes no adequate substitute for the essential liberty that today is at the basis of all human labor and effort, enterprise and new activity. It seeks to take away that liberty and, by doing so, leave all men equal in poverty and immorality. Socialism is a philosophy of failure, the creed of ignorance, and the gospel of envy, its inherent virtue is the equal sharing of misery. We see the effects it brings here, in New Lyon, in Mexico, in the Andes, and across the factories of America.