US Presidency
1961

During the last two months, our gold stocks actually increased by seventeen million dollars, compared to a loss of 635 million dollars during the last two months of 1960. We must maintain this progress, and this will require the cooperation and restraint of everyone. As recovery progresses, there will be temptations to seek unjustified price and wage increases. These we can not afford. They will only handicap our efforts to compete abroad and to achieve full recovery here at home. Labor and management must, and I am confident that they will, pursue responsible wage and price policies in these critical times. I look to the President's Advisory Committee on Labor-Management Policy to give a strong lead in this direction.