Speaking on ways of preserving the United States "economic miracle", President Nixon yesterday (Thursday) told 14,000 cheering businessmen in St.
Nixon on rostrum; crowd waving' Nixon speaking.
TRANSCRIPT: NIXON: "This economy is strong. This economy is sound. And it is time -- and I believe this is the time -- when America can demonstrate that we can have prosperity without war, prosperity with peace, in the United States of America, and that is out goal. (Applause). Now here again there are those, very well-intentioned who say 'Why not an instant solution? I know, we'll have government wage and price controls to stop the inflation of wages and prices' that's an instant answer and an easy answer. But you know what it is? It's like a doctor telling you when you've got a sore finger that the cure for it is to cut off your arm, because, never forget how America got where it is today. We became the envy of the whole world -- we are an economic miracle for the whole world -- with the average American earning twice as much in real wages as that of the next highest nation in the world. How? Not by government restricting free men but by providing greater freedom and opportunity for Americans. That is the secret of our success. (Applause)".
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Background: Speaking on ways of preserving the United States "economic miracle", President Nixon yesterday (Thursday) told 14,000 cheering businessmen in St. Louis that he was confident that his home and foreign policies would keep the economy strong and sound.
In his speech to the 15th annual convention of the U.S. Junior Chamber of Commerce, the President assured his audience that the American military thrust into Cambodia had not widened the Indo-China war. He was confident that Vietnamese withdrawals would proceed according to schedule.
He went on to reject suggestions that government sanctions should be introduced to protect the economy: