"Since our last meeting we have been through a disastrous election. It is easy for us to be discouraged, as pundits hail that election as a repudiation of our philosophy and even as a mandate of some kind or other. But the significance of the election was not registered by those who voted, but by those who stayed home. . . .
"Bitter as it is to accept the results of the November election, we should have reason for some optimism. For many years now we have preached 'the gospel,' in opposition to the philosophy of so-called liberalism which was, in truth, a call to collectivism.
"Now, it is possible we have been persuasive to a greater degree than we had ever realized. "Few, if any, Democratic party candidates in the last election ran as liberals.
"Listening to them I had the eerie feeling we were hearing reruns of Goldwater speeches. I even thought I heard a few of my own.
"Bureaucracy was assailed and fiscal responsibility hailed. . . .
"Americans are hungry to feel once again a sense of mission and greatness.
"I don't know about you, but I am impatient with those Republicans who after the last election rushed into print saying, 'We must broaden the base of our party' when what they meant was to fuzz up and blur even more the differences between ourselves and our opponents.
"It was a feeling that there was not a sufficient difference now between the parties that kept a majority of the voters away from the polls. When have we ever advocated a closed-door policy? Who has ever been barred from participating?
"Our people look for a cause to believe in. Is it a third party we need, or is it a new and revitalized second party, raising a banner of no pale pastels, but bold colors which make it unmistakably clear where we stand on all of the issues troubling the people?
"A political party cannot be all things to all people. It must represent certain fundamental beliefs which must not be compromised to political expediency, or simply to swell its numbers.
"I do not believe I have proposed anything that is contrary to what has been considered Republican principle. It is at the same time the very basis of conservatism. It is time to reassert that principle and raise it to full view. And if there are those who cannot subscribe to these principles, then let them go their way."
March 1, 1975.