Evening star. [volume] (Washington, D.C.) 1854-1972, 1957-01-10

that the Congress be equally
watchful in this matter.
We pledge the Government
share in guarding the integrit!
of the dollar. But the Govern
lment's efforts cannot be the en-
tire campaign against imitation
the thief that can rob the indi'
vidual of the value of the pension
and social security he has earned
during his productive life. Fo,
success, Governments effort
must be paralleled by the atti
tudes and actions of individual
citizens.
I have often spoken of tn,
purpose of this administration
to serve the national interest o
ITO million people. The nationa
interest must take precedence
over the temporary advantage
which may be secured by partic
ular groups at the expense o
all the people.
Authorization Guard Urged
1 In this regard I urge leaders il
business and in labor to thinl
well on their responsibility Il
the American people. With al
elements of our society, the.
owe the Nation a vigilant guart
against the inflationary tenden
cieS that are always at work in
dynamic economy operating a
todays high levels. They cal
powerfully help counteract O
accentuate such tendencies b.
their wage and price policies.
Business in it's pricing policies
should avoid unnecessary price
increases especially at a time lik'
the present when demand in 81
many areas presses hard on shor
supplies. A reasonable profit il
essential to the new investment!
that provide more jobs in al
expanding economy. But business
leaders must. in the nationa
interest, studiously avoid those
price rises that are possible only
because of vital OF unusua
needs of the whole Nation.
If our economy is to remain
healthy, increases in wages anc
other labor benefits, negotiated
by labor and management mus
be reasonably related to i'm
provements in productivity
Such increases are beneficial. fol
they provide wage earners with
greater purchasing power. Except
where necessary to correc
obvious injustices, wage in
creases that outrun productivity
however. are an inflationary
factor. They make for higher
prices for the public generally
and impose a particular hard
ship on those whose welfare de.
ponds on the purchasing power
of retirement income anc
savings. Wage n egotiation
should also take cognizance Of
the right of the public generally
to share in the benefits of i'm
provements in technology.
Self discipline Counseled
Freedom has been defined as
the opportunity for self-diSci-
pline. This definition has a
special application to the areas
of wage and price policy in q
free economy. Should we per-
.sistently fail to discipline our.
selves. eventually there will be
increasing pressure on govern
ment to redress the failure. BY
that process freedom will steI
by step disappear. No subject or
the domestic scene should more
attract the concern of the
friends of American working
men and women and of free
business enterprise than the
forces that threaten a steady
depreciation of the value OF
our money.
Concerning developments ir
another vital sector of oul
e C o n ON y-agriculture-I am
gratified that the long slide in
farm income has been halted
and that futher improvement is
in prospect. This is heartenine
progress. Three tools that we
have developed-improved sur
plus disposal, improved price
support laws. and the soil bank
are working to reduce price-de-
pressing Government stocks OF
farm products. Our concern fol
the well-being of farm families
demands that we constantly
search for new ways by which
they can share more fully in
our unprecedented prosperity
Legislative recommendations in
the field of agriculture are con-
tanned in the Budget Message.
Our soil, water. mineral, forest
fish and wildlife resources are
being conserved and improved
more effectively. Their conser-
walton and development are
vital to the present and future
strength Of the Nation. But
they must not be the concern OF
the Federal Government alone
State and local entities. and pri-
vate enterprise should be en-.
couraged to participate in such
projects.
I would like to make special
mention OF programs for making
the best uses of water, rapidly
becoming our most precious nat
ural resource, just as it can be
when neglected, a destroyer OF
both life and wealth. There has
been prepared and published q
comprehensive water report de-
veloped by a cabinet committee
and relating to all phases of this
particular problem.
Water Resources
In the lgiht OF this report
there are two things I believe we
should keep constantly in mind
The first is that each OF our
great river valleys should be
considered as a whole. Piece
meal operations within each