The Wilmington morning star., 1946-06-30
F1H Text of President Truman's Veto

WASHINGTON, June 2s.-Re
The text of President Truman
message today vetoing the o.
bill follows:
To the House OF Representatives
am returning without my ar
nroval H. r. 6O42 amending tn
price control laws and extenoln'
them for another year.
The choice which H. R. 6oA
presents is not a choice between
Continued price stability and in
flation. 1t is a choice between IN
ratiop with a statute and infla
ton without one. The bill continues
the governments responsibility u
stabilize the economy and at the
same time it destroys the gov
ernment's power to do so.
If this bill were allowed to be
rome law. the American people
would believe that they were pro
tected by a workable price control
law. But they would not be pro-
tected and they would soon come
10 a bitter realization Of that
truth. 1t is only fair to tell them
the facts now.
The lesson from u own ex-
perience after the last war, dis
astrous as it was our farmers, our
workers. u manufacturers, our
distributors, and our consumers,
has been too easily obscu-ed by
the annoyances and irritations and
the occasional inequities Of price
control. The fact that initiation has
already Quilted the economy OF
country after country all over the
world should shake u comfort
able assurance that such a catas-
trophe cannot happen here.
For five years we have proved
that Initiation can be prevented.
1t still can be prevented if we
have the will to prevent it. Today
the opportunity of compelling the
transition from war to peace with
an economy which is stable. sound
and secure is within u grasp.
To avoid sacrificing this oppor-
tunity requires courage, wisdom
and self-restraint. This winter and
spring the tensions have been
more acute than ever before. We
are all weary and impatient c1
government restrictions and con-
trolls. We are all eager for the
day when we can pursue u oWr
affairs in OUR own way. In such
a mood there is the natural temp.
tation to remove essential safe
guards, prematucely.
"No Real Safeguards"
This bill yields to that tempta.
ton. 1t would provide us with NJ
real safeguards at all. 1t woule
start prices and costs climbing, i
would start the value Of the dol
lar falling and keep it falling. Fal
from helping production it wouls
retard it. In the end this bill woule
lead to disaster.
II shall not attempt to common
on all the bills provisions. Sons
of them r entirely appropriate
Many others reflect minor conces
sions to special interest groups O.
the sort which the Congress ha:
heretofore resisted. To these lat
ter provisions l object on ground:
of principle. But in the last day;
before the expiration of legisla'
ton so vital to the nations wei
tare I should not regard these
concessions as a basis for with
holding my approval from an ex-
tension bill.
My fundamental objection to
the bill is to the numerous
amendments which would
raise the price Of essential
.costof-living commodities. OF
those by far the most damag-
ing is the price raising amend
.ment for manufacturers intro
.duced by Senator Taft, (Sec-
'tion III. operating in conjunc-
ton with the revised price
raising amendment for distri-
busors introduced by Senator
Wherry (section 10, par. tTO,
and with the special cost-plus
amendments for automobile
and appliance dealers first Of
fered to the House committee
IN Ranking and Currencv nv