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Updated: August 11, 2024
The American economy is one of the wonders of the world. It undergirds our international position, our military security, and the standard of living of every citizen. This Administration is determined to keep our economy strong and to keep it growing. At this moment we are in transition from a wartime to a peacetime economy.
We are ahead of schedule in building warships but we are working to get even further ahead of that schedule. To change a whole nation from a basis of peacetime production of implements of peace to a basis of wartime production of implements of war is no small task.
From ten to eleven he had gone back to his sermon, and had spent from eleven to one at his church, attending to small matters, writing notices, fixing hymns, holding the daily half-hour Service instituted during wartime, to which but few ever came. He had hurried back to lunch, scamping it so that he might get to his piano for an hour of forgetfulness.
"You know, there are important fortifications there, because the Navy people expect, in wartime, to use Craven's Bay as a possibly important naval station and shelter for vessels that have to put in. Now, for some time the Army engineer officers have been perfecting a system of submarine mines for the bay.
Thus, consumers' current savings are declining substantially from the extraordinarily high wartime rate and some wartime savings are beginning to be used for long-delayed purchases. Calendar year 1944 and October-December 1945 Excess Excess Income after taxes $134 ....... ...... $132 ...... ....... Expenditures ......$98............$107 .......
And of great importance to our future production was the effective and rapid manner in which the Congress met the serious problem of the rising cost of living. It was a splendid example of the operation of democratic processes in wartime. The machinery to carry out this act of the Congress was put into effect within twelve hours after the bill was signed.
Our experience will enable us during the coming year to improve the necessary mechanisms of wartime economic controls, and to simplify administrative procedures. But we do not intend to leave things so lax that loopholes will be left for cheaters, for chiselers, or for the manipulators of the black market. Of course, there have been disturbances and inconveniences and even hardships.
"How would you feel about being aboard a battleship in wartime, and suspecting that a boat like this was nosing down in the water after you?" Jack Benson made a little grimace. "Serious business, this fighting on the ocean, isn't it?" he replied. "It's stranger to think about than it is to be doing it," replied Andrews, musingly. "I know. I was in the war with Spain."
Now tell me, my dear boy, are you serving in the Horse Guards?" asked the old man, scrutinizing Anatole closely and intently. "No, I have been transferred to the line," said Anatole, hardly able to restrain his laughter. "Ah! That's a good thing. So, my dear boy, you wish to serve the Tsar and the country? It is wartime. Such a fine fellow must serve. Well, are you off to the front?"
As we seek to promote increases in our standard of living, we must be sure that the farmer fairly shares in that increase. Therefore, a farm program promoting stability and prosperity in all elements of our agriculture is urgently needed. Agricultural laws now in effect successfully accomplished their wartime purpose of encouraging maximum production of many crops.
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