ECONOMIC STRENGTH

Ashburton Guardian, Volume 69, Issue 75, 8 January 1949, Page 6

ECONOMIC STRENGTH

MESSAGE FROM MR TRUMAN' (Rec. 10.35) WASHINGTON, Jan. 7. President Truman in a special economic report to-day warned the American public that it must be prepared to accept strengthened economic controls if it is to continue reconstruction in other lands, maintain the strength of its own armed forces and improve its own welfare. “We want. the greatest amount of economic freedom consistent with the security and welfare of the people. But we do not want to sacrifice security, and welfare because of narrow, selfish concepts as to acceptable limits of Government action.” The President said that harder tests faced American economy in 1949 and that the present slight decline in prices might only be a breathing space befor another inflationary upsurge which would increase the danger of a major depression. He recalled the sudden slump in prices of agricultural products last spring and termed it a ‘ escape from the danger of general depression. “We would rather have relatively unpleasant restrictions on our freedom of action for a while than imperil our security or allow our human and material resources to deteriorate,” said the President. The United States, he said, was enjoying “bountiful prosperity” and the very brightness of the current picture provided an excellent opportunity to plan a practical programme of immediate and long-range measures pointed toward stability and growth.