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This is the sound approach. To make it effective, surpluses existing when the new program begins must be insulated from the normal channels of trade for special uses. These uses would include school lunch programs, disaster relief, emergency assistance to foreign friends, and of particular importance the stockpiling of reserves for a national emergency.
With that aim in view to prevent a future similar crisis you and I joined in a series of enactments safe banking and sound currency, the guarantee of bank deposits, protection for the investor in securities, the removal of the threat of agricultural surpluses, insistence on collective bargaining, the outlawing of sweat shops, child labor and unfair trade practices, and the beginnings of security for the aged and the worker.
The fastest economic growth in more than 30 years; the lowest unemployment rates in 30 years; the lowest poverty rates in 20 years; the lowest African-American and Hispanic unemployment rates on record; the first back-to-back budget surpluses in 42 years. Next month, America will achieve the longest period of economic growth in our entire history. We have built a new economy.
"He'll take it, but he seems to think your charge rather high more than that of most costumers, he said." "This ain't no common surplus," defended Amarilly loftily. "It was wore by the rector of St. Mark's, and he give it to me. It's of finer stuff than the choir surpluses, and it hez got a cross worked onto it, and a pocket in it, too."
This will include an acreage reserve to reduce current and accumulated surpluses of crops in most serious difficulty, and a conservation reserve to achieve other needed adjustments in the use of agricultural resources. I shall urge measures to strengthen our surplus disposal activities.
Well, I don't believe we should buy that argument. There are too many imponderables for anyone to predict deficits or surpluses several years ahead with any degree of accuracy. The budget in place, when I took office, had been projected as balanced. It turned out to have one of the biggest deficits in history.
How," turning to Amarilly, "did you happen to have such an article?" "We do the washin' fer St. Mark's church, and the minister give us one of his surpluses." "The display will be in for six days. What will you rent it for that long?" "I allers git a dollar a night fer it," replied Amarilly. "Too much!" declared the clerk. "I'll give you fifty cents a day."
The people of the United States were checked in their efforts to prevent future piling up of huge agricultural surpluses and the tumbling prices which inevitably follow them. They were checked in their efforts to secure reasonable minimum wages and maximum hours and the end of child labor.
They believe this can be done, and the national budget kept out of the red. And when we have found that way to protect the farmers' prices from the effects of alternating crop surpluses and crop scarcities, we shall also have found the way to protect the nation's food supply from the effects of the same fluctuation.
Hence putting the Government directly into business, subsidies, and price fixing, and the alluring promises of political action as a substitute for private initiative, should be avoided. The Government should aid in promoting orderly marketing and in handling surpluses clearly due to weather and seasonal conditions.
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