Evening star., 1953-04-20

billion in 1852, $6 billion in
1858. and $40 billion in 1854,
We found that the programs
in effect and proposed con-
templated billions Of dollars Of
deficits in each of the next
several years.
We have a tax structure that
is already so high that it is
adding tremendously to our
cost of living and threatening
to destroy the incentive to
work and save and invest.
This is our legacy. This is
what we face today.
1t is far from a pretty pic
ture. But it is by no means an
impossible one in view Of the
great strength Of our country
and the vigor and resourceful-
ness of our people. Our in
heritance Of obligations both
immediate and planned is stag
gering, but not yet beyond our
powers of control. It will take
rigid self-discipline and deter
mined action. But, over a pc
riod of time, if we resolutely
hold our course to definite OBJ
jectives, it need give us no fear.
Threat to Our Way of Life
From Two Sources
What is it we have been so
hurriedly preparing to pre-
serve? Is it just our lives? No.
What we are really trying to
preserve is our American way
of life. That is what we have
fought for over the years. That
is what we must always pre-
serve and always protect. Con-
fronted with crisis. we has
tened to protect it from out
side aggression without regard
to cost in a feverish rush to
preparedness. But we must
not forget that our way Of life
is threatened. not from one,
but from two sources at the
same time. It can be lost just
as completely by economic de-
terioration from within as by
aggression from without. In
fact, economic deterioration
will not only destroy our way
of life. but it will destroy the
very means by which we seek
to protect it from aggression.
1t is the economic strength Of
America that has supplied the
sinews for ourselves and for
our allies to fight two great
wars. We are confronted, not
with a problem, but with q
dilemma, which simply means
two problems at the same time.
We must seek and find that
delicate balance which will
give us the necessary military
preparedness for defense
against outside attack while
always continuing to maintain
our economic strength at
home. Those are dual prob
lens and must be simultane.
ouSly solved.
The first step in solving
them is to achieve q sound
currency. History demon
strates that whenever currency
deterioration has started it
tends to continue at an ever
increasing rate, the faster the
further it goes. Unless coura-
geous, determined, corrective
| action is taken in time it
finally speeds entirely out of
control and finishes in utter
collapse. The first half of the
depreciation of our dollar has
already occurred. The pro-
grams and conditions which
this administration inherited
would have accelerated that
pace. Stopping that spiral is
imperative.
One essential to accomplish
this goal is to bring our Fed
eral expenditures under con-
troll and at the earliest pos
sible time balance them with
our income. This cannot be
done in a minute with such
large expenditures already
contracted for, but it Is not
too late, if we are tough
enough, to make real and
early progress in that direc-
ton and start at once. Fear
and indecision never make
for efficiency. Haste makes
waste. More defense for less
money is perfectly practical
and a possible accomplishment.
Neither can this be done in a
minute, but it is in the cards
and on the wary. Deliberate,
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