Evening star., 1954-10-26

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being purchased In an amount
Of 5000 million.
A new multi-miliion dollar
program for shipbuilding and
repair Is keeping in operation
needed shipbuilding facilities
and creating many jobs.
In these and many other ways,
Government has helped to keep
our Nations economy on an
even keel. And the result?
This year 1854 is our most pros
porous peacetime year in history,
This picture is marred, Of
course, by the fact that In GER
tain industries and localities
some unemployment still exists
as the aftermath Of war and in
fiation. It is q matter Of deep
concern to all Of us when pepole,
looking for work, cannot find
it. Unemployment figures are
far more than statistics. They
reflect heartache - anxiety -
hardship-and ultimately, loss
of confidence In our country's
future. It is not only in the In
terests Of the jobless workmen
but for the benefit of all Of US,
that the problem be solved.
Must Create More Jobs.
It Ia essential to create more
Jobs and to ease these war-born
hardships. Good progress Is pe-
ing made. Since last spring un-
employment, has been steadily
declining. still more progress Is
needed. There is certainly no
comfort for us in the fact that
the unemployment level Is much
lower today than during the re-
cession Of l949 and 1850. or IN
the fact that unemployment
today is less than one-third its
level In the years 1888 to 1910,
when as many as 10 million
were out Of jobs and
couldn't find them.
I should like to interrupt my
self here to give you q report
that reached me just late this
afternoon. It came from the
Secretary of Commerce and the
Secretary Of Labor jointly.
It is the latest report on unem-
ployment.
In this month. it has been re-
duced by 100000 jobs.
In that period, unemployment
has fallen from 100000 TO T.
100000. I have asked the Sec
retary of Labor, incidentally, In
q Nationwide telecast tomor-
row night, to give to the public
all of the facts that we have on
this employment and unemploy-
ment situation.
Incidentally. I might remark
as I look at this head table, this
feels to me or seems to me the
second cabinet meeting I have
had this evening.
I sincerely hope that most, II
not all, of you got to hear the
report from Secretary Dulles
the report that carries for all OF
us so much of promise because
of its evidence Of growing
strength in Western Europe.
Confidence Needed.
I repeat that q central reason
for our overall economic growth
is confidence that the American
economy will meet the tests OF
peace. With this confidence. we
shall keep on making this kind
of history.
I believe that it is high time
in this great, growing, productive
land of ours, to put behind US
the rash Of fears that for so long
have haunted some among us
fear Of war, fear Of unemploy-
ment, fear Of ourselves-fear OF
the future. Certainly, we know
that one such fear-the fear OF
q paralyzing depression-can be
safely laid away.
But we must not rest. In our
economy, to stand still Is to fall
behind. Our labor force Is grow
ing. Productivity is rising. We
must do more than simply to
plan against trouble or accept
unemployment at its present
level. Rather, we must advance
toward and beyond the goal ]
earlier - within 10
years, a national production Of
$500 billion.
This means that we must do
q number Of things.
First, we must develop q for
eign economic program that will
expand trade. encourage invest
ment. help bring about currency
convertibility and reduce the
need for direct aid to other coun-
tries. This program will expand
markets for our goods abroad.