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Dear and valued co-workers: I was deeply touched by your message, and I greatly value the sentiments you have expressed, and the efforts you exert for the promotion of our beloved Faith. I will pray for your success from the depths of my heart. Rest assured, and persevere in your high and meritorious endeavours. Your true and grateful brother, Shoghi 22 February 1947
With the perspective we possess today it can be seen that he is easily the equal of Verne, standing with him and H. G. Wells as one of the foremost science-fiction writers of his day. A. Langley Searles New York, N. Y. May 1947
It is likely that the United States will be required to pay little if any more than the initial 10 percent before the end of the fiscal year 1947.
As the year 1947 begins, the state of our national economy presents great opportunities for all. We have virtually full employment. Our national production of goods and services is 50 percent higher than in any year prior to the war emergency. The national income in 1946 was higher than in any peacetime year. Our food production is greater than it has ever been.
In connection with the war activities of the United States Maritime Commission and certain other agencies, however, I now make specific recommendations for the fiscal year 1947.
Thus, after a long period of increasing public debt resulting from depression budgets and war budgets, it is anticipated that no increase in the Federal debt will be required next year. Fiscal year Expenditures: 1946 1947 Defense, war, and war liquidation $49,000 $15,000 Aftermath of war: Veterans, interest, refunds 10,813 10,793 Other activities 4,552 5,813
It is expected that more than half of these terminated contracts will be settled during the current fiscal year, leaving payments of about 1.5 billion dollars for the fiscal year 1947. Another important aspect of war supply liquidation is the disposal of surplus property.
The Federal expenditure estimates for the fiscal year 1947 include 53 million dollars for new construction in rivers, harbors, and the Panama Canal and 291 million dollars for highways and grade-crossing elimination, assuming that the States expend some 275 million dollars on the Federal-aid system.
The appropriations from general and special accounts for the social security program, which cover Federal administrative expenses and grants to States for assistance programs, are estimated at 593 million dollars for the fiscal year 1947, an increase of 57 million dollars over the current year.
An important present source of danger to our economy is the possibility that prices might be raised to such an extent that the consuming public could not purchase the tremendous volume of goods and services which will be produced during 1947. We all know that recent price increases have denied to many of our workers much of the value of recent wage increases.
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