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284839079
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White House Press Release, Statement by Dr. Edwin G. Nourse
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document
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1
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284839079
contentType
document
title
White House Press Release, Statement by Dr. Edwin G. Nourse
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White House Press Release Files (Truman Administration)
White House Press Releases
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284839079
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9
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1946-08-09
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8
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1946
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21b449d294705b7e
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383
#822
IMMEDIATE RELEASE
AUGUST 9, 1946
STATMENT OF DR. E. G. NOURSE
CHAIRMAN, COUNCIL OF ECONOMIC ADVISERS
As the President has stated, the Employment Act of
1946 makes a significant addition to our frame of government.
It is fully wi thin our democratic traditions as an agency that
will step up our efficiency in promoting the well-being of our
people as a whole. All three members of the Council fully
share this view, and we hope that every thoughtful citizen
will bear in mind four things that the Congress plainly wrote
into the language of the Act:
First, this Act must be carried out "in a manner
calculated to foster and promote free competitive enterprise."
Second, the federal government accepts "responsibility"
for maintaining conditions which will afford "useful employment
opportunitie es maximum employment, production, and purchasing
power."
Third, the Council is not to set up any great new
duplicating agency.
Fourth (and here I paraphrase rather that quote) it
NARA
is to mobilize the best thinking of economic students - both
lay and professional, within the government and outside --
on immedicate and long-range problems of the nation's business.
It is to bring this wisdom to the service of the Chief Executive
and the Congress, as they have to make decisions about what to
do or what not to do.
Such is the general mandate of Congress, Beyond this,
both Senate and House will keep active touch with the work of
the Council of Economic Advisers through a special Joint
Committee.
This is not a fifth wheel on a machine already adequately
equipped. It might better be likened to a driving-band which ties
many important wheels together in a complex but powerful mechanism.
The immediate task in maintaining the economic health of
the nation is to hold inflationary forces down so that we do not
get into a runaway boom. It is to everybody's interest to help
in this effort. Beating inflation now will be the best means of
providing for the future economic health of our nation.
We believe that the task of the Economic Council is one
of tremendous proportions, which will call for the utmost that we
can give it. The Council can only study and advise, and we will
do our humble best to advise wisely. But the success of the
Nation in reaching the high goals we all desire can be attained
only by the fullest cooperation of every citizen of the United
States.