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This is not a record of war production. It is an unpar-
alleled record for pescetime goods and services, devoted to the
ARCHIVES "NATIONAL REDORDS AND of
to
SERVIDE
needs and enjoyments of the American people.
But I must say in all frankness that the economic skies
are not entirely clear. One cloud is shadowing our economic future.
That cloud is caused by the sharp and rapid rise in prices.
Some say this cloud is certain to burst. They are sure of
recession or a depression. I do not share their belief that either
of these is inevitable.
I believe that we, as a Nation, can prevent this economic
cloudburst. But it requires prompt, preventive steps.
Price increases have been felt by every American family.
No one needs to tell them how mach the cost of living has increased
House furnishings, for example, have gone up 23 percent,
above the 1945 average.
Clothing has gone up 24 percent.
Food has risen 31 percent.
Only rent, because it is under rent control, has remained
practically stable.
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Context sent to Scholar
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"ocrText": "- 5 -\n500\nThis is not a record of war production. It is an unpar-\nalleled record for pescetime goods and services, devoted to the\nARCHIVES \"NATIONAL REDORDS AND of\nto\nSERVIDE\nneeds and enjoyments of the American people.\nBut I must say in all frankness that the economic skies\nare not entirely clear. One cloud is shadowing our economic future.\nThat cloud is caused by the sharp and rapid rise in prices.\nSome say this cloud is certain to burst. They are sure of\nrecession or a depression. I do not share their belief that either\nof these is inevitable.\nI believe that we, as a Nation, can prevent this economic\ncloudburst. But it requires prompt, preventive steps.\nPrice increases have been felt by every American family.\nNo one needs to tell them how mach the cost of living has increased\nHouse furnishings, for example, have gone up 23 percent,\nabove the 1945 average.\nClothing has gone up 24 percent.\nFood has risen 31 percent.\nOnly rent, because it is under rent control, has remained\npractically stable."
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