Dear Mrs. Richards: Thank you for your letter inquiring about the fight against inflation.1 This problem is one that has given me very real concern. It affects all Americans, but particularly people such as yourself and your husband who either are now retired or are about to retire and must plan to live on limited savings or a fixed pension.
The starting place in this fight to keep down the cost of living and to curb inflation is to regard it as an important matter. This we do. I regret that the platform and campaign speeches of the opposition give it such low priority.2
The success of our efforts is best demonstrated by the results. Since this Administration took office, the rise in the consumer's cost of living has been held down to less than three percent. This remarkable stability in the cost of living, in a peacetime economy operating at high levels, is a record to be thankful for and one that we seek to maintain. These results are in sharp contrast with the record of the preceding Administration, during which the cost of living rose almost fifty percent.3
This fight we will continue by keeping a close check on government spending, avoiding going into the red year after year, watching credit and fiscal controls carefully to keep inflation from breaking loose once again, and in many other ways keeping a sensitive watch of the kind that has been so successful these past four years. This is a never-ending struggle, but I am sure we can keep on winning.4
For the wage earner whose pay increases should purchase more and not less for himself and his family, for the retired person whose savings and pensions must be protected and for all Americans, we will continue our battle to secure a stable dollar.
Again, I thank you for taking the time to write to me. Sincerely
