We point them out today because we believe that Mr. Smith's analysis is a very good one.

"Firstly, Bermuda is not the centre of the universe. We are not a world power and we really can't demand anything from anybody,'' he said. "We live off our wits and our personalities, not our brawn.'' "Secondly, despite our past success and the fact that we live in a beautiful Island and are all very nice people, no-one owes us a living. There is no guarantee that Bermuda or the bank have a future.'' Speaking of both Bermuda and the Bank of Bermuda he said, "We compete on a global stage, with the biggest and the brightest. As the world changes, they change - and they are not going to wait for us to catch up.'' "And don't think for one minute that Bermuda itself doesn't compete internationally. Our retailers, our hotels -- almost every business in Bermuda competes against foreign companies for its living. None of us can afford to sit back and watch the world go by.'' Mr. Smith suggested that people should have three levels of contribution. They should do their own job well. They should reach out beyond their own job to be part of a team working together to achieve success. People need to see the big picture and contribute any way they can toward success. He said we should expect these three levels of contribution from each and every resident of this Island.

"We should all carry out our personal responsibilities to as high a standard as possible. That includes, amongst other things, doing our jobs well, responsible parenting, and obeying the law.'' "There are about 60,000 of us living here and, whether we like it or not, we are all in the same boat. Whether we are in Government, international business, tourism, construction, whatever -- we must all marshall our resources to ensure Bermuda's success. If the economy or society is out of balance, it is a problem we all share -- and those of us who are doing well are just as much, if not more, obliged to find solutions as those who are struggling.

Finally Mr. Smith said we should try to see Bermuda's big picture. We should try to see what Bermuda is and where we are going. We should have a vision for the future and we should not sit by and expect Government to come up with all the ideas and build our future for us.

Mr. Smith has issued a great challenge to each and every Bermudian. But when we remember the resourcefulness of Bermudians and the challenges we have overcome in the past it is possible to achieve. As we see it, the operative phrase is "whether we like it or not, we are all in the same boat''.

Mr. Smith himself said, "...it isn't going to be easy. But the worst thing we can do is sit around and complain about what's wrong without trying to do something about it.''