This is a transcript of this speech made for the convenience of readers and researchers. A single text of this speech exists in the Senate Speech files of the John F. Kennedy Pre-Presidential Papers here at the John F. Kennedy Library.

Since January 1953, this nation has passed through a period which has been marked by indecision and doubt.

To find a parallel I history for this period - and to supply a theme which makes clear the need for a change in 1960, I suggest we look back 23 years, when, in a bitter debate in the House of Commons, Winston Churchill charged the British Government with acute blindness to the menace of Nazi Germany - with gross negligence in the maintenance of the Island's defences - and with indifferent, indecisive leadership of British foreign policy and British public opinion. The preceding years of drift and impotency, he said, were " the years the locusts had eaten." And it seems to me tonight that this nation has, since January 1953, passed through a similar period. When we should have sailed hard into the wind, we, too, drifted. When we should have planned anew, sacrificed and marched ahead, we, too, stood still, sought the easy way, and looked to the past.

And these, too, were precious years, vital years, to the greatness of our nation, as the thirties were to Great Britain. For on the other side of the globe another great power was not standing still and she was not looking back and she was not drifting in doubt. The Soviet Union needed these years to begin to catch up with us, to try to surpass us, to make a powerful effort to take away from us our prestige and our influence and even our power in the world community.

They want to "bury" us, as Mr. Khrushchev says, but not necessarily by war - by possessing the most powerful military establishment, by boasting the most impressive scientific achievements, by dominating the most markets and trade routes, by influencing the most needy or neutral nations through aid and trade and diplomatic penetration.

That is how they hope to "bury" us - to extend their sphere of influence - to build respect for the Communist system - and to prove to the underdeveloped countries that their route, the communist route, is the better route to industrial development.

And that is what the Soviets have been working on these last seven years of American drift. I do not say that all was perfection in 1952, under the last Democratic Administration. But we were in 1952 the unchallenged leaders of the world in every sphere - militarily, economically and all the rest. We were building strength and friendships around the world. We were successfully containing the spread of Communist imperialism. And we were the leaders of a free world community that was united, dynamic and growing stronger every day. This was the record of Democratic accomplishments - a record we intend to match - and surpass - when we have a Democrat in the White House in 1961.

And now it is 1960. The Russians beat us into outer space. They beat us around the sun. They beat us to the moon. Half of Indo-China has disappeared behind the Iron Curtain. Tibet and Hungary have been crushed. For the first time in history, Russia has its long-south political foothold in the Middle East - and even an economic foothold in Latin America. And meanwhile we have been forced to abandon the Baghdad Pact - to send Marines to Lebanon and our fleet to Formosa - to endure our Vice President being spit upon by our former "Good Neighbors" - and to forget our plans for a meaning NATO.

But all these more dramatic, more publicized events only symbolize what has happened. The seven year record of Russian gains and American gaps is not a pleasant one. But let us total up the balance sheet. Let us face the facts.

1. Militarily. Although the Russians do not yet have an overall military superiority - they are rapidly moving ahead. By 1963 the Soviet Union will have greatly surpassed us in the production of intercontinental missiles - and this growing Russian strength will begin an era of military crisis for the United States - a period in which our ability to retaliate and deter war will be seriously diminished. But the Russians have not only surpassed us in the development of missiles - long and short-range - they have done ahead in high-thrust rocket engines - essential for space exploration - jet engines, and new types of fuel. They now have more long-range modernized submarines than we do - more, in fact, than Nazi Germany had entering World War II. Their continental air defense system is thought to be superior - their installations are better dispersed, better concealed and better protected.

They devote twice as much of their resources to military efforts as we do - even though we are twice as rich.

All this they have done - while we, for seven years, have cut our forces, reduced our budgets, held back our missile programs, wasted our money and time and scientific talent - and all the while assuring the American people that we could never be second-best. Democrats in the Congress tried to fight these trends - and we are still fighting - and we will continue to fight until this dangerous course is reversed. But we do not control the Defense Department, or the Budget Bureau, or the White House. In 1961, with your help, we will - and in 1961 we will begin to rebuild our nation's strength.

2. In education, science, and research, the story under this administration has been the same. We harassed our scientists. We overcrowded our schools. We cut back our research. We underpaid our teachers. We let brilliant students drop out after high school. The President would not support an adequate program to construct desperately needed classrooms, at either the public school or college level.

But meanwhile, in the Soviet Union, the Russians were putting twice as much of their resources into education. Their teachers commanded top salaries. Their classrooms contained fewer pupils per teacher. Their curricula were stronger in terms of science, mathematics, physics, and languages. Their most talented students were kept in school. The new Soviet budget, approved in early November, puts its biggest increase in science and education.

I am convinced that American education and American science, given the necessary funds and effort and leadership, can work miracles - miracles that could well surpass any Russians have ever envisioned. But it will take a new administration to do the job - an administration that puts education ahead of larger tail-fins and bigger refrigerators - and administration that puts national needs first - an administration in the great tradition of Franklin Roosevelt and Harry Truman.

3. The third vital area of completion is in economic power. "Development of Soviet economic might," said Mr. Khrushchev to the 21st Communist Party Conference, "will give Communism the decisive edge in the international balance of power." No area of competition is more vital to our leadership and prestige. But for seven years we have kept our sights low, fluctuating between inflation and regression, handicapped by serious pockets of high unemployment, low purchasing power and declining farm income, hamstrung by high interest rates and tight money. While our annual average rate of growth was thus roughly 3 per cent, the Russians were up to 6 per cent, twice as high. Their industrial capacity is expanding nearly three times as fast as ours, at an annual rate of 9 1/2 per cent. To be sure, they started a lot further back and they still have a long way to go - but 30 years ago this was a relatively backward nation! If these trends continue, they could increase their defense budget by over 50 per cent in the next seven years with no new stain.

Today, despite our greater wealth, they roughly match our contribution for defense, foreign aid, industrial investment and research development - and their new 1960 budget, a peace-time record, continues this emphasis.

While our power resources are neglected and wasted they accelerate their energy development. In 1975 they aim to out-produce us in hydroelectric power. While the Administration found merit in "no new starts", the Soviet Union began construction of hundreds of new dams. While we respected budgetary limitations upon hydroelectric development, they tripled their capacity. The next administration - a Democratic Administration - will revitalize and advance our nation's power development.

4. In agriculture, while we are weakening our farm economy and penalizing our famers for their increased efficiency and productivity, the Russians - as Mr. Khrushchev made clear - are determined to pass us. Already their agricultural production is expanding faster than their population. Their grain production is up an estimated 30 per cent. Their production of fertilizer has expanded, on average, some 11 per cent every year since 1951. And now they are out to match us in meat, butter and milk. If our agricultural economy collapses, if our so-called surpluses remain a liability to the taxpayers instead of a blessing to the hungry world, then they, not we, may become the world's greatest arsenal of food. But this need not happen - and I am hopeful that a new Administration, and a new Secretary of Agriculture, would see that it does not happen.

5. Finally, look at the contrasting changes in aid and trade abroad. When we abruptly abandoned the Aswan Dam in Egypt as economically unfeasible, the Russians went ahead to build it. When we refuse Latin American countries loans for their oil development programs, because we think it should be left up to private enterprise, the Russians move in and make the loan. While we starve the Development Loan Fund - our best tool to help the underdeveloped world get on its own feet - the Sino-Soviet bloc had already actually passed us in economic assistance to selected key areas, the potential trouble spots of the world: Indonesia, Ceylon, the United Arab Republic States of Egypt and Syria, Afghanistan, Yemen - and, more recently - Iraq, Nepal and Ethiopia.

Their cultural program is a part of this. They have spend more than one-half billion dollars over the past few years to send their artists, dancers and other entertainers all over the world - we have allotted $2-3 million a year for this purpose. They spent $50 million on their exhibit at the Brussels World's Fair - we spent $14 million. It will take a Democratic Administration - the party of ideas and vision - to really bring America's message to the world.

This is what has been going on - for seven long years. I do not say the picture is all bad. I do not say that the other side of the ledger is all blank. But neither can we afford to ignore these facts and their implications any longer.

I do not think the American people have been made aware of these facts. We have been complacent, self-contented, easy-going. It brings to mind the words of Franklin Roosevelt in 1928, after two terms of Harding and Coolidge. "The soul of our country ," said F.D.R., "lulled by material prosperity, has passed through eight gray years."

"Eight gray years" - "years that the locusts have eaten." Years of drift, of falling behind, of postponing decisions and crises. And, as a result, the burdens that will face the next administration will be tremendous. The gaps between ourselves and the Soviet Union will be many - and dangerous - and still growing.

It is not too late. For we have in this country all the strength and all the vision and all the will we need - if we will only use them. And perhaps these seven gray years, and these spectacular Russian gains, have awakened us from our sleep. The Russian pennant on the moon has shown us our task. Mr. Khrushchev's confident boasts have outlined our challenge.

And I think we can live up to it. I think we can make up for "the years the locusts have eaten." I think we can close the gaps and pull ahead. It will take everyone's help, as this record makes clear - officeholders, farmers, teachers, businessmen, miners, taxpayers, workers and bankers. But together we can build a better nation - and a better, happier, more peaceful world, where life is good and men are free and freedom never falters.