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the people. .
The Democratic Administration has had a guiding principle since taking office 20 years ago: that the prosperity and growth of this nation are indivisible. Every step we have taken to help the farmers has also helped the workers and business. Every improvement in • the statue of the worker has helped both iarmers and business. Every expansion of business has provided more jobs for workers and greater demand for farm products.
A Stabilised Economy
Combatting Inflation. The Democratic Administration early recognized that defense production would limit the amount of goods in civilian markets and subject our economy to heavy inflationary pressure. To prevent this from resulting in ruinous inflation, the Administration proposed pay-aswe-go taxation to keep the 'National debt as low as possible and to prevent excess money pressure on scarce goods and services.
Direct controls were also proposed to channel scarce materials into highly essential defense production and to keep prices down.
In 1951 and 1952 Republican Congressmen demonstrated their attitude toiward these necessary measures when they sponsored amendments which would have destroyed all controls.
75.7%