I turn now to the second great purpose of our government: Along with the
protection of freedom, the maintenance of a strong and growing economy.
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.
I am confident that we can complete this transition without serious
interruption in our economic growth. But we shall not leave this vital
matter to chance. Economic preparedness is fully as important to the nation
as military preparedness.
Subsequent special messages and the economic report on January 28 will set
forth plans of the Administration and its recommendations for Congressional
action. These will include flexible credit and debt management policies;
tax measures to stimulate consumer and business spending; suitable lending,
guaranteeing, insuring, and grant-in-aid activities; strengthened old-age
and unemployment insurance measures; improved agricultural programs;
public-works plans laid well in advance; enlarged opportunities for
international trade and investment. This mere enumeration of these subjects
implies the vast amount of study, coordination, and planning, to say
nothing of authorizing legislation, that altogether make our economic
preparedness complete.
If new conditions arise that require additional administrative or
legislative action, the Administration will still be ready. A government
always ready, as this is, to take well-timed and vigorous action, and a
business community willing, as ours is, to plan boldly and with
confidence, can between them develop a climate assuring steady economic
growth.