胡佛总统，首席法官先生，朋友们：

　　This is a day of national consecration, and I am certain that on this day, my fellow Americans expect that on my induction in the Presidency I will address them with a candor and a decision which the present situation of our people impels. This is preeminently the time to speak the truth, the whole truth, frankly and boldly. Nor need we shrink from honestly facing the conditions facing our country today. This great nation will endure as it has endured, will revive and will prosper. So first of all, let me express my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror, which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life, a leadership of frankness and vigor has met with that understanding and support of the people themselves, which is essential to victory. And I am convinced that you will again give that support to leadership in these critical days.

　　今天，对我们的国家来说，是一个神圣的日子。我肯定，同胞们都期待我在就任总统时，会像我国目前形势所要求的那样，坦率而果断地向他们讲话。现在正是坦白、勇敢地说出实话，说出全部实话的最好时刻。我们不必畏首畏尾，不老老实实面对我国今天的情况。这个伟大的国家会一如既往地坚持下去，它会复兴和繁荣起来。因此，让我首先表明我的坚定信念：我们唯一不得不害怕的就是害怕本身--一种莫名其妙、丧失理智的、毫无根据的恐惧，它把人转退为进所需的种种努力化为泡影。凡在我国生活阴云密布的时刻，坦率而有活力的领导都得到过人民的理解和支持，从而为胜利准备了必不可少的条件。我相信，在目前危急时刻，大家会再次给予同样的支持。

　　背景资料

　　罗斯福一直被视为美国历史上最伟大的总统之一，是20世纪美国深孚众望和广受爱戴的总统，也是美国历史上唯一一位连任四届的总统。罗斯福首次就任总统之时，正值经济大萧条的风暴席卷美国，到处是失业、破产、倒闭、暴跌，到处可见美国的痛苦、恐惧和绝望。罗斯福却表现出一种压倒一切的自信，他在宣誓就职时发表了一篇富有激情的演说，告诉人们：我们唯一害怕的就是害怕本身。他的决心和轻松愉快的乐观态度，“点燃了举国同心同德的新精神之火。”

　　The only thing we have to fear is fear itself — nameless, unreasoning, unjustified terror, which paralyzes needed efforts to convert retreat into advance.

　　我们唯一害怕的 是害怕本身——这种难以名状、失去理智和毫无道理的恐惧，把人转退为进所需的种种努力化为泡影。