said in his report to the Senate: "Mr. President. I believe the facts show. that this Nation is well on the way to an even more enduring peace and to an expanding economy which will assure gainful employment and happy. comfortable living for every family making up the rapidly increasing population of our Nation. "The way to these achievements is not easy. "On all counts it is fraught with fatal dangerssuicidal war and/or economic collapse. or both. "That is why we have a weighty obligation to proceed with a maximum of caution and a minimum of strictly partisan consideration toward the enactment of those lawsthe establishment of those policiesmost likely to avoid ruinous inflation. international chaos. or economic stalemate. "Thus. it is obvious that the dominant reason for our phenomenal growth is the fact that we established. developed. and encouraged a private enterprise system under which the tenant farm boy of today can become the farm owner of tomorrow. the factory worker of today can become the factory owner of tomorrow. the poor immigrant boy of today can become the leading citizen of tomorrow. and all of us possess the right to progress in proportion to our own initiative and ability. "Thus. I say that one of the most important accomplishments of this administration has been to restore confidence in and encourage the development of the basic principle of our greatest asset. the American system of government.
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