The Wilmington morning star., 1947-01-07

oom to continue the expansion of
our economy.
In my proclamation of Decem-
Der 81, 1916, I announced the
termination OF hostilities. This
automatically ended certain tenn
porary legislation and certain ex-
ecutlve powers.
Two groups of temporary laws
still remain: the first are those
which congressional mandate are
to last during the "emergency;"
the second are those which are to
continue until the Termination of
the war;"
l shall submit to the Congress
recommendations for the repeal of
certain OF the statues which by
tnelr terms continue Cor the dura-
tlon OF the Emergency" l shall
al the same time recommend that
others within this classification be
extended until the state of war has
oeen ended by treaty or by legisla-
tive action. AS to those statutes
which continue until the state of
war has been terminated. 1 urge
MAJ the Congress promptly con-
q each statute individually.
and repeal such emergency legis-
iatlon where advisable.
Now that nearly all wartime
controls have been removed, the
operation OF our industrial system
uepends to a greater extent On the
decisions Of business men, farmers
and workers. These decisions must
DC wisely made with genuine con-
Germ for the public welfare. The
welfare OF business men, farmers,
and workers depends upon the
economic wellbeing OF those who
buy their products.
AN important present source of
danger to u economy is the pos
slblllty that prices might be raised
10 such an extent that the consum-
ing public could not purchase the
tremendous volume of goods and
services which will be produced
in 1947.
We all know that recent price in
creases have denied to many of
our workers much of the value of
recent wage increases. Farmers
have found that a large part Of
their increased income has been
absorbed by increased prices.
While some of III people have
received raises in income which
exceed price increases, the great
majority have not. Those persons
who live On modest fixed incomes
retired persons living on pen
slons, for example - and workers
whose incomes are relatively in
flexible - such as teachers and
other civil servants - have suf-
tered hardship.
In the effort to bring about a
sound and equitable price struc-
ture each group of our population
has its own responsibilities.
1t is up to industry not only to
hold the line on existing prices, but
to m a k e r reductions whenever
profits justify such action.
1t is up to labor to refrain from
pressing for unjustified wage in
creases that will force increases
in the price level.
And it is up to government to
do everything in its power to m
courage high-volume production,
for that is what makes possible
good wages, low prices and rea-
sonable profits.
In a few days there will be SUBJ
mitted to the congress the econom-
ic report OF the President, and
also the budget message. Those
messages will contain many rec
concentrations. Today I shall out
line five major economic policies
which I believe the government
should pursue during 1947. These
policies are designed to meet our
immediate needs and, at the same
time. to provide for the long-range
welfare of our free enterprise
system:
First, promotion Of greater har-
mony between labor and manage
ment.
Second, Restriction of monopoly
and unfair business practices; as
sistance to small business; and the