Draft of Radio Address by President Harry S. Truman on Wages and Prices in the Reconversion Period
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OCR Page 1 of 21Radis address of the Resident
White House
3956
October 30, 19 45
Fillow DRE citizens
WAGRS AND PRIOES
on August 18, 1945 ** four days after the surrender of
ANATIONAL
=
Japan
I issued Executive Order 9599 which laid down the guiding
)
policies of your Government during the transition from war to peace.
Briefly stated these are
plevies
First, to assist in the maximum production of civilian goods.
Second, as rapidly as possible to remove government controls
and restore collective bargaining and free markets.
Third, to avoid both inflation and deflation.
Those are still our policies.
one of the major factors determining whether or not we shall
succeed in carrying out those policies is the question of wages and
prices. If wages go down substantially, we face deflation. If prices
go up substantially we face inflation. We must be on our guard, and steer
clear of both these dangers to our security.
What happens to wages is important to all of us -- even to
those of us who do not work for wages.
fro xample,
It is important to business not only because wages represent
1A
essential
an important item in the cost of producing goods, but because people
cannot buy the products of industry unless they earn enough wages generally.
What happens to wages is also important to the farmer. The income
Relations
belongs_to