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Without a doubt, first thing we should do is clean up our fiscal house, and that starts with balancing our budgets and digging out of this red ink. We cannot expect to continue in this fashion and remain the leader of the free world.

There are a number of steps that we can take to reinvigorate and rebuild the economic and the physical infrastructure of our country and then to rebuild us, frankly, on a spiritual level.

The point in history at which we stand is full of promise and danger. The world will either move forward toward unity and widely shared prosperity - or it will move apart.

We are now heading down a centuries-long path toward increasing the productivity of our natural capital - the resource systems upon which we depend to live - instead of our human capital.

We will build new roads, and highways, and bridges, and airports, and tunnels, and railways all across our wonderful nation.

There is every indication that we are to see new developments of the power of aggregated capital to serve civilization, and that the new developments will be made right here in America.

I will spend the next four years rebuilding the foundation of a opportunity society led by free people and free enterprises.

We now occupy the proud attitude of a sovereign and independent Republic, which will impose upon us the obligation of evincing to the world that we are worthy to be free. This will only be accomplished by wise legislation, the maintenance of our integrity, and the faithful and just redemption of our plighted faith wherever it has been pledged.

To rebuild this country will take a long time but we have the mandate and the people support us.

We will renew our party, to rebuild our land - and we will do it by being a better Labour, real Labour, Scottish Labour.