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Chester W. Nimitz

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We shall never forget that it was our submarines that held the lines against the enemy while our fleets replaced losses and repaired wounds.
--
As quoted in Historic Ship Exhibits in the United States (1969), by United States Naval History Division, United States Navy, p. 24

 
Chester W. Nimitz

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Our losses...have reached an intolerable level. The enemy air force played a decisive role in inflicting these high losses.

 
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If we are to project our power against the vital areas of any enemy across the ocean before beachheads on enemy territory are captured, it must be by air-sea power; by aircraft launched from carriers; and by heavy surface ships and submarines projecting guided missiles and rockets. If present promise is developed by research, test and production, these three types of air-sea power operating in concert will be able within the next ten years critically to damage enemy vital areas many hundreds of miles inland.
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All of them, all except Phineas, constructed at infinite cost to themselves these Maginot Lines against this enemy they thought they saw across the frontier, this enemy who never attacked that way-if he ever attacked at all; if he was indeed the enemy.

 
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'Now it is turning into words again — faint but clear — Lest the awe should dwell — And turn your frolic to fret — You shall look on my power at the helping hour — But then you shall forget! Now the reeds take it up — forget, forget, they sigh, and it dies away in a rustle and a whisper. Then the voice returns —
'Lest limbs be reddened and rent — I spring the trap that is set — As I loose the snare you may glimpse me there — For surely you shall forget! Row nearer, Mole, nearer to the reeds! It is hard to catch, and grows each minute fainter.
'Helper and healer, I cheer — Small waifs in the woodland wet — Strays I find in it, wounds I bind in it — Bidding them all forget!

 
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What became a problem is there was a clause that allowed investors to cover losses. As long as you made losses one year, you could carry them over to the next and to the next. And because of that they would pay no taxes. So this fellow takes all the gold away and he says he makes losses and so he does not pay us anything. So he is the only one that is being protected. Those of us who are losing our resources are not protected. This is the thing that created the kind of debate that we had and we had to renegotiate.

 
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