The Constitution that followed was an effort to turn that moral vision into a framework for governing. As Thomas Jefferson put it, to bind down power with chains.

Two and a half centuries later, the American experiment endures. Not because power has been tamed once and for all; we all know our success in binding down power with chains has been mixed. But because the ideas of the Declaration endure. And they have been defended again and again.

As we also approach Cato’s 50th anniversary in 2027, we mark half a century of advancing the same principles that animated the Founding. We believe that these principles—individual liberty, limited government, free markets, and peace—are the guideposts marking the path to a free and open society in which our children and grandchildren will flourish.

On September 17, 1787, the last day of the Constitutional Convention, Elizabeth Willing Powel asked Benjamin Franklin, “Well, Doctor, what have we got?” We all know Franklin’s legendary reply: “A republic, if you can keep it.” Present times show us the wisdom and the urgency of Franklin’s admonition.

At this moment, the American Republic doesn’t feel infinitely strong, nor is it something we can afford to take for granted. The architecture of government bequeathed to us by the Founders has long been bent beyond its initial shape. And today it’s being stressed more than ever. This is compounded by a lack of civility and mutual respect that fuel a climate of polarization and tribalism. And this climate blinds many people to the dangers of the unprincipled path they’re traveling.

The deterioration of the rule of law, the accumulation of power in the presidency, the exercise of that power in unconstitutional and extralegal ways, and the towering debt we continue to accrue at a breathtaking pace each represents an existential threat to the freedom and well-being of future generations. And each is the product of a hyperpolarized environment that has grown through successive administrations.

But we have kept the Republic. And we’ve done so through market collapses, Red Scares, depressions, wars, and even insurrections as significant as our Civil War.

Keeping the Republic demands both policy victories and a renewed commitment to the Founding principles and values: essentially the two elements of Cato’s mission statement. Ideals such as civility and respect for opposing viewpoints in public discourse animated the Founding, are woven throughout our libertarian Constitution, and are highlighted in the Institute’s own Statement of Principles. If we are to keep our Republic, then we must adhere to principles above partisanship.

Current events often contravene these Founding principles: masked government agents disappearing people without due process; targeting of political enemies, be they individuals, law firms, or companies; tariffs fluctuating daily at the president’s whim; dramatic new enmeshing of government with private enterprise; and plunging the country into misadventures overseas without congressional approval or national debate.

We are not passive observers. When the administration claimed unchecked authority over trade, we challenged it and prevailed at the Supreme Court. With both parties having abandoned fiscal discipline, we raise the profile of the issue and provide the roadmaps for reform. As young people search for alternatives to partisan tribalism, we reached millions of them with the ideas of liberty.

This report shows how Cato translates principles into action and impact. As we celebrate America’s 250th anniversary and approach Cato’s 50th, we face Franklin’s challenge anew: Can we keep it? Doing so requires more effort, more energy, and more innovation, in turn generating still more action and impact. We’re committed to accomplishing this and offer our sincere gratitude for your own commitment to Cato’s mission.