US Presidency
1942

But we could not do a complete job of it, because the Congressional authority at the time exempted a large part of farm products used for food and for making clothing, although several weeks before, I had asked the Congress for legislation to stabilize all farm prices. At that time I had told the Congress that there were seven elements in our national economy, all of which had to be controlled; and that if any one essential element remained exempt, the cost of living could not be held down. On only two of these points both of them vital however did I call for Congressional action. These two vital points were: First, taxation; and, second, the stabilization of all farm prices at parity. Parity is a standard for the maintenance of good farm prices. It was established as our national policy way back in 1933.