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The construction of the Australian Temple has, moreover, been placed in the hands of a reliable Sydney architect, who will have completed the detailed drawings and specifications by the first of Ridván, and contemplates beginning work on the foundations by next June and completing the building by March, 1959.
In 1959 our deficit in balance of payments approached $4 billion. Continuing deficits of anything like this magnitude would, over time, impair our own economic growth and check the forward progress of the Free World. We must meet this situation by promoting a rising volume of exports and world trade.
Chinese control of Tibet, involving the construction of numerous roads, airstrips, and military installations, as well as differences concerning the international border, led in 1959 to conflicts with India, a country which had previously sided with the new China in international affairs. Indeed, the borders were uncertain and looked different depending on whether one used Manchu or Indian maps.
And by July 1, 1959, Government expenditures for storage, interest, and handling of its agricultural inventory will reach a rate of one billion dollars a year. This level of expenditure for farm products could be made willingly for a temporary period if it were leading to a sound solution of the problem. But unfortunately this is not true. We need new legislation.
We've increased and strengthened our naval presence in the Indian Ocean, and we are now making arrangements for key naval and air facilities to be used by our forces in the region of northeast Africa and the Persian Gulf. We've reconfirmed our 1959 agreement to help Pakistan preserve its independence and its integrity.
In every age there have been people to sigh: "Ah, yes. Fifty years ago we had a few great writers. But they are all dead, and no young ones are arising to take their place." This attitude of mind is deplorable, if not silly, and is a certain proof of narrow taste. It is a surety that in 1959 gloomy and egregious persons will be saying: "Ah, yes.
The military conquest of Tibet is regarded by many as an act of Chinese imperialism, or colonialism, as the Tibetans certainly did not want to belong to China or be forced to change their traditional form of government. Having regarded themselves as subjects of the Manchu but not of the Chinese, they rose against the communist rulers in March 1959, but without success.
The 1959 deficit was caused in large part by the failure of our exports to penetrate foreign markets the result both of restrictions on our goods and our own uncompetitive prices. The 1960 deficit, on the other hand, was more the result of an increase in private capital outflow seeking new opportunity, higher return or speculative advantage abroad.
I believe that, in spite of these necessary increases, we should strive to finance the 1959 security effort out of expected revenues. While we now believe that expected revenues and expenditures will roughly balance, our real purpose will be to achieve adequate security, but always with the utmost regard for efficiency and careful management.
In the 1959 budget, increased expenditures for missiles, nuclear ships, atomic energy, research and development, science and education, a special contingency fund to deal with possible new technological discoveries, and increases in pay and incentives to obtain and retain competent manpower add up to a total increase over the comparable figures in the 1957 budget of about $4 billion.
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