The Presidency: We're Still Jefferson's Children

"We're Still Jefferson's Children"

If the fractious globe allows it, Ronald Reagan may spend his final months in power less as a swashbuckler than as a teacher, looking back and extracting lessons from his considerable experience. His "Economic Bill of Rights" speech, delivered on the third of July at the Jefferson Memorial, was a summary of the passions expended in his stewardship and a call to the faithful to carry the banner beyond him.

From his years as a dinner speaker for General Electric, Reagan has been a master of the art of exhortation. Indeed, the day before he journeyed to the Tidal Basin to...