White House Press Release, Message from President Harry S. Truman to the United States Congress

344 HOLD FOR RELEASE HOLD FOR RELEASE HOLD FOR RELEASE July 27, 1948 CONFIDENTIAL: The following Message of the President to the Congress, scheduled for delivery July 27, MUST BE HELD IN STRICT CONFIDENCE and no portion, synopsis or intimation is to be given out or published UNTIL DELIVERY HAS BEGUN. The same release applies to all newspapers, radio announcers and news commentators, whether in this country or abroad. EXTREME CARE SHOULD BE EXERCISED TO AVOID PREMATURE PUBLICA- TION OR RADIO ANNOUNCEMENT. CHARLES G. ROSS Secretary to the President MR. PRESIDENT, MR. SPEAKER, MEMBERS OF THE 80TH CONGRESS: TRUMA NARA The urgent needs of the American people require our Add presence here today. Our people demand legislative action by their Government to do two things: first, to check inflation and the rising cost of living, and second, to help in meeting the acute housing short- age. These are matters which affect every American family. They also affect the entire world, for world peace depends upon the strength of our economy. The communists, both here and abroad, are counting on our present prosperity turning into a depression. They do not believe that we can -- or will -- put the brake on high prices. They are counting on economic collapse in this country. If we should bring on another great depression in the United States by failing to control high prices, the world's hope for lasting peace would vanish. A depression in the United States would cut the ground from under the free nations of Europe. Economic collapse in this country would prevent the recovery throughout the world which is essential to lasting peace. We would have only ourselves to blame for the tragedy that would follow. In these tense days, when our strength is being tested all over the world, it would be reckless folly if we failed to act against inflation. High prices are not taking "time off" for the election. High prices are not waiting until the next session of the Congress. High prices are getting worse. They are getting worse every day. We cannot afford to wait for the next Congress to act. The 81st Congress will not get under way for nearly six months. Before the new Congress could take action against high prices, it would have to draft new bills, study them, hold hearings, debate, and decide whether to pass them. It would be at least eight months from now before the new Congress could pass the laws we need. Eight months more of inflation would be much too long. It was eight months ago -- November, 1947 -- that I called a special session of this Congress, and recommended a comprehensive (OVER)