strides in science and technology, the huge increase in the produc- tion of goods and services and the progress that has been made in distributing these more equitably over the population. Machines have lessened drudgery and some new machines can do in seconds what once took many men many months. The "Green Revolution" holds out the promise of defeating hunger. Advances in medicine and health care have put down pestilence and increased life expectancy. We have disseminated education more widely, improved social justice, lessened discrimination. It is a record in which we can take much justifiable pride. As we sit here in these magnificent surroundings in the company of good friends, it is not easy to recognize that - good as the record is - it is not good enough. Like the Lord's work, the world's work is never done. Out there is a world full of troubles and in much disarray. There are many dragons yet to slay for those willing to unsheath their swords. Changes are taking place so rapidly that one wonders whether we have outgrown many of our social institutions. Some of the problems are as old as man but many were compounded by the events of 1973 and their aftermath. With the Middle East at war, the Arabian nations played their Ace of trumps - the Oil Embargo. Soaring energy prices brought in their wake double-digit inflation, two world-wide recessions, and a massive transfer of wealth to a handful of oil-producing nations at the expense of the rest of the world. The economies of all the oil -importing nations were hard hit but some were financially strong enough to absorb the blow. Others had their economies brought to the brink of ruin, with their credit worthiness much impaired. 5