MAY BE AVERTED

Rotorua Morning Post, Issue 5283, 20 December 1946, Page 5

MAY BE AVERTED

(Press Assn.-

PRESiDENT ASKS PEOPLE TO REMAIN AT WORK

—Rec. 9.80 p.m.)

WASHINGTON, Dec. 19. The B.B.C.'s Washington correspondent says that President Truman, at a press coitference, vigorously challenged the statement that America faces a depression next year. He said that the outlook was good, and would remain good if people would stay at work. President Truman's council of ceonomie advisers, est^blished to advw on economie trends, predicts in | its first report that a temporary re- I cession may come in 1947, but that j couiageous actics-n by business and | labour groups can hold it to moderate pmportions, if not avert it. The promiso of a long-tenn future free of boom and depression must be based on a foundation of free and competitive enterprise, without the bcnefil of direct Government intervention but with the Government in a supporting and spark-plugging role, say.- the report. "We must recognise tlie ) cal magnitude of our produetive power and keep it going to produce ! all the things that o-nly the more j [ favmired liave enjoyed in the past." J j "Tho economic outlook for 1947 is ! | good if everybody stays on the job," I said President Truman. Questioned j abuiit the economic adviso-ry council j iep"rt, President Truman said he did | not expect even a temporary reces- j I sion in 1947 if the people would just ] j go to work. 6 He added that nobody wanted | I strikes, and those which interrupted j i the reconversion progrannne were not i I neeessary. |