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Updated: May 5, 2025
Inflation threatens to bring on disagreement and strife between labor and management. Worst of all, inflation holds the threat of another depression, just as we had a depression after the unstable boom following the First World War. When I announced last October that the Congress was being called into session, I described the price increases which had taken place since June 1946.
However, we know that there will continue to be shortages of certain materials caused by the war even after June 30, 1946. It is important that businessmen know now that materials in short supply are going to be controlled and distributed fairly as long as these war-born shortages continue. I, therefore, urge the Congress soon to extend the Second War Powers Act.
Ratification by the required number of member nations followed that October, and the first General Assembly of the new organization convened on 10 January 1946, in London.
Although the average farmer is now better off than ever before, farm families as a whole have only begun to catch up with the standards of living enjoyed in the cities. In 1946, the average income of farm people was $779, contrasted with an average income of $1,288 for nonfarm people. Within the next decade, we should eliminate elements of inequality in these living standards.
I strongly urge that the Congress now resolve all doubts and as soon as possible adopt legislation continuing rent and price control in effect for a full year from June 30, 1946. If the price line is to be held, if our people are to be protected against the inflationary dangers which confront us, we must do more than extend the Price Control Act.
To support these objectives, expenditures by the Department of Agriculture estimated at 784 million dollars from general and special accounts will be required in the fiscal year 1947. This compares with estimated expenditures of 676 million dollars in 1946.
Long-term care will become a bigger and bigger challenge with the aging of America and we must do more to help our families deal with it. I was born in 1946, the first year of the baby boom.
To his relief, he was unable to push his hand through the bed. So he was alive; he was also fully awake, and, he hoped, rational. He rose to his feet and prowled about the room, taking stock of its contents. There was no calendar in sight, and he could find no newspapers or dated periodicals, but he knew that it was prior to July 18, 1946.
Differential treatment which benefits one type of transportation to the detriment of another should be avoided save when it is demonstrated clearly to be in the public interest. Total capital outlays for resource development are estimated at 653 million dollars in the fiscal year 1947 as compared with 452 million dollars in 1946.
About this time, their Chief's "Report" for the past year was issued, and it revealed a few facts which are worthy of record. It stated that there had been altogether 1946 fires in London during the past twelve months; that is, an average of a little more than five fires every twenty-four hours. Of these 1670 had been slight, while 276 were serious.
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