New circumstances are constantly begetting new needs for our safety.
In the sentence, Roosevelt's is stating that America need more power because the risk that now is facing -the second world war. The other sentences in the excerpt just serve to convince the congress to give more weapons to the allied nations so they can act as buffer while America gain more power to prepare to war. That is especially evident in the sentence: "Our most useful and immediate role is to act as an arsenal for them as well as for ourselves."
We can conclude that the sentence suggesting that the US government would gain more power to prepare for war is: New circumstances are constantly begetting new needs for our safety.