Evening star., 1948-04-18
.Trumon's Address to Editors

- SStuCItt 4 uptuh 'sISftt w
- the annual dinner OF the Amer
We lean Society OF Newspaper Edi-
,,,,tors:'
49, Mr.. Chairman, distinguished
guests, my fellow Americans:
am glad to be here tonight to
speak to the American Society OF
Newspaper Editors. You editors
make distinct and important con-
tribution to the operation of Gov
eminent in the United States. Your
frank expression of views on cur
rent affairs has great value to our
people in helping them to form their
Judgments.
=, It is because of the influence you
have upon the course of our democ-
racy that I am glad to have this op-
portunity to discuss with you one
-. of the major problems confronting
~, our country.
1 am going to talk to you tonight
about imitation.
All of us have the foreign situa-
ton very much on our minds these
days. This is proper, for we must
devote great deal of thought to our
foreign relations if we are to sue
coed in working out the difficult
international problems facing us.
= But we cannot afford to neglect our
problems at home.
4-o,, Economy In Danger.
The success of our foreign policy
f depends to a very large extent upon
the strength and stability OF our
:, domestic economy. The plain fact
Is however. that our economy Is
In serious danger as result OF high
prices and imitation.
Imitation may seem to you to be
an old story. But there are some
men in this country-men who hap
Sen to be in influential positions
Who still fail to understand or who
deliberately ignore the gravity OF
the situation and the need for
fortnight measures to meet 1t. They
have tinkered with the problem OF
imitation - they have even taken
some feeble steps in the right dlrec-
tfon. But they have taken other
Meps IN the wrong direction-steps
that have made the problem much
worse.
For my part, I believe that 1nf1a-
ton is so grave a menace to TINS
country and to the world that l DO
not propose to let it be forgotten.
I believe that the Government has
a clear-cut responsibility to deal
with high prices. believe that we
know what measures the Govern
ment should take. I cannot SIT by
sflentlv while imitation continues TO
creep up on the American people.
z The basic facts which make TINS
Noblem of such fundamental I'm,
s-portance are plain. The world
stands now at one Of the decisive
points in history. Emerging from
the most terrible of all wars. pe2ple
all over the earth are fixing anew
the pattern of civilization.
U. S. Chief Support.
Bv virtue of the strength with
which we have been blessed, the
United States is the chief support
TO those people of the world VINO
are seeking to rebuild their civiliza-
tion In accordance with the prlncl-
ples of democracy and freedom. The
heart of our support is economic as
sistance. To be effective, 1t must
be coupled with sufficient military
strength to give the free peoples
of the world some sense OF security
while they rebuild.
These requirements must be met
In large part from the productlon
of American mines and factories
and farms. Thus, a strong Ameri-
can -econorftg- is the bedrock upon
which rest the hopes for -estaoflsning
q peace of free men in the world
without it we can provide neither
aid, nor leadership, nor example.
The strength and vitality OF our
economy are being undermined by
imitation. High prices are now work
ing real hardship upon most Amerl-
can families. If unchecked, 1nf1a-
ton will bring on economic conse-
ouences which will hurt every one
of us.
This is not a new situation, but
1t is getting worse.
I have been calling attention to
the hardships and dangers OF high
prices for a long time. l have re-
peatedly urged businessmen to eX-
ercise voluntary restraint in setting
prices. Many of them have courage
ously done what they could to hold
prices down. But they were not
strong enough to stem the tide, and
prices have continued to rise.
Ten-Point Program Stressed.
~ BY last Fall. it had become clear
that We could not place our main
reliance on voluntary methods. On
November II, I presented to the
Congress ten-point legislative pro-
gram for dealing with imitation
That program has not been enacted
And prices have continued to rise.
The program which I presented
TO the Congress was sound and
necessary last November. 1t is still
sound and it is even more neces-
sary now.
= The total demand for goods is
still outrunning production. Com
petition for scarce items is still
pushing prices up. Employment is
at record levels, but the real pur-
chasing power of most Of our people
is still losing ground to imitation.
In February, there was break in
,the market for wheat, corn and
q. ether agricultural products, But ag-
ricultural prices did not drop for
long, and they did not drop very
far. The prices paid by housewives
we're affected hardly at all. The
general level Of prices has remained
we'll above the already excessive
level which prevailed in 1947.
And now there are new factors
that have made the outlook for in
fation considerably worse.
Key Prices Increased.
Some key prices have been in
creased, unwisely and unnecessarily
The outstanding case was, of course
the increase in some important steel
prices. l believe that the business
men who made these increases did
not consider their far-reaching ef-
feet on the rest of the economy
They made the regrettable decision