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TO CONTROL INFLATION AND PRODUQE GOLD. BOTH MAY BE
RIGHT OR WRONG. IT WILL DEPEND ON MANY OTHER FACTORS. THE
POINT IS THAT THIS IS BASICALLY AN ADMINISTRATIVE AND
of liim entlents
EXECUTIVE PROBLEM I AND POLITICAL CLICHES OR LABELS WILL
NOT SOLVE IT.
LET ME GIVE YOU A SECOND EXAMPLE. A WELL_KNOWN
BUSINESS JOURNAL THIS MORNING RAISED THE PROSPECTS THAT
A FURTHER BUDGET DEFICIT WOULD BRING INFLATION AND
C
ENCOURAGE THE FLOW OF GOLD. WE HAVE HAD SEVERAL RECENT
a
BUDGET DEFICITS BEGINNING WITH OUR 12 1/2 BILLION DOLLAR
DEFICIT IN 1958 AND IT IS TRUE THAT IN THE FALL OF 1960
GOLD
WE HAD A RECORD LOSS RUNNING AT AN ANNUAL RATE OF 5 BILLION
DOLLARS. THIS WOULD SEEM TO PROVE THE CASE THAT A
DEFICIT PRODUCES INFLATION AND A LOSS OF GOLD.
YET THERE 58
WAS NO INFLATION FOLLOWING THE 1960
dehecite
AV
RECESSION AND DEFICIT >NOR SINCE THEN. OUR WHOLESALE PRICE
INDEX SINCE 1958 IN SPITE OF SEVERAL DEFICITS HAS REMAINED
THE SAME AND THE LOSS OF GOLD HAS BEEN DUE TO OTHER REASONS
Document source description
This file contains materials collected by the office of President John F. Kennedy's secretary, Evelyn Lincoln, concerning President Kennedy's remarks at the 1962 Yale University graduation ceremony. In his speech the President thanks the University for the honorary degree bestowed upon him, and discusses three areas of domestic concern where the prevalence of myth dangerously impedes progress: fiscal policy, confidence in an administration, and the concept of "big government." Materials in this folder include various memoranda of suggested talking points, a draft by Special Assistant to the President and speechwriter Arthur M. Schlesinger, Jr., a press copy, and a reading copy of the speech with handwritten notations by the President, as well as a luncheon menu, program for the commencement exercises, and an additional transcript of the speech published by Yale University.
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"ocrText": "for\n2\nTO CONTROL INFLATION AND PRODUQE GOLD. BOTH MAY BE\nRIGHT OR WRONG. IT WILL DEPEND ON MANY OTHER FACTORS. THE\nPOINT IS THAT THIS IS BASICALLY AN ADMINISTRATIVE AND\nof liim entlents\nEXECUTIVE PROBLEM I AND POLITICAL CLICHES OR LABELS WILL\nNOT SOLVE IT.\nLET ME GIVE YOU A SECOND EXAMPLE. A WELL_KNOWN\nBUSINESS JOURNAL THIS MORNING RAISED THE PROSPECTS THAT\nA FURTHER BUDGET DEFICIT WOULD BRING INFLATION AND\nC\nENCOURAGE THE FLOW OF GOLD. WE HAVE HAD SEVERAL RECENT\na\nBUDGET DEFICITS BEGINNING WITH OUR 12 1/2 BILLION DOLLAR\nDEFICIT IN 1958 AND IT IS TRUE THAT IN THE FALL OF 1960\nGOLD\nWE HAD A RECORD LOSS RUNNING AT AN ANNUAL RATE OF 5 BILLION\nDOLLARS. THIS WOULD SEEM TO PROVE THE CASE THAT A\nDEFICIT PRODUCES INFLATION AND A LOSS OF GOLD.\nYET THERE 58\nWAS NO INFLATION FOLLOWING THE 1960\ndehecite\nAV\nRECESSION AND DEFICIT >NOR SINCE THEN. OUR WHOLESALE PRICE\nINDEX SINCE 1958 IN SPITE OF SEVERAL DEFICITS HAS REMAINED\nTHE SAME AND THE LOSS OF GOLD HAS BEEN DUE TO OTHER REASONS"
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