I share your concern about the magnitude of Federal expenditures.

Our accelerated rate of stockpiling in the past two years has been made possible largely by the existence of our synthetic rubber industry.

The task of collecting the internal revenue has expanded enormously within the past decade.

Increased costs, particularly the high costs of feedstocks produced from alcohol which have been required to achieve the present levels of GR-S production, have necessitated increasing the price of GR-S from 18½ cents a pound to 26 cents…

Total production in Government-owned plants has been increased from an annual rate of 270,000 tons in January 1950 to a present annual rate of 850,000 tons.

Our minimum objectives will soon be met, and if international conditions do not worsen, it may be possible to begin soon to taper off our stockpile purchasing of rubber.

We both hope that the initiative taken by the International Bank for Reconstruction and Development will lead to a solution of the Iranian oil problem acceptable to all the interests concerned.

In the interest of economy, both in time and money, we have agreed that the United States and the United Kingdom will continue to rely upon rifles and ammunition now in stock and currently being produced.

Because that is my business.

I do hereby impose and proclaim a fee of 10 cents per pound but not more than 50 per centum ad valorem on any shelled almonds.

We must have things to eat and things to wear and they must come from but one place and that is the land.

It has taken us a long time to discover that agriculture is the fundamental basis on which we all live.

It took us a long time to discover that farm credit and farm management are the two most important things of the foundation of a republic.

All of us should realize that we are in a hard, tough fight with inflation in this country--just as we are in a hard, tough fight with aggression in Korea.

It is the safest investment in the world, and always has been.

No man is in a bad fix when his savings are invested in Government bonds.

We must continue to improve the production of food, for food is the fundamental basis of a high standard of living.

The housing shortage will still be acute.