Davis, Chester C. (Chester Charles), 1887-1975 , Board of Governors of the Federal Reserve System (U.S.), 1935- and Federal Reserve Bank of St. Louis "Outlook and Aftermath." Address before the 25th Annual Convention of the American Farm Bureau Federation, Chicago, Illinois, December 7, 1943, https://fraser.stlouisfed.org/title/478/item/18477, accessed on March 31, 2025.

Title: Outlook and Aftermath : Address before the 25th Annual Convention of the American Farm Bureau Federation, Chicago, Illinois

Date: December 7, 1943
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image-container-0 OUTLOOK AND AFTERMATH Address By Chester C. Davis President, Federal Reserve Bank of St, Louis Before the 25th Annual Convention of the American Farm Bureau Federation Hotel Sherman, Chicago, Illinois Tuesday evening, December 7, 1943
image-container-1 OUTLOOK AND AFTERMATH No man who makes a public address in these days can hope to paint for an audience even an imperfect picture of the whole scene in which our lives are cast. He will be fortunate if he can light up a few points so that they may be seen momentarily in reasonable perspective. To be of help to us these need to be points that mean something in our day-to-day lives, points that we can see from where we are • Some day this war v/ill end. Then the demand for farm products will be radically changed. Then we will have millions more men to employ than ever worked in peacetime before; we will have the greatest endowment of natural and mechanical resources known to the world; and we v/ill have the monetary basis for expanded productive activity far greater than ever existed heretofore. And v/e will have an almost unlimited gap of unfilled human wants and needs. That is the outlook I want you to keep in mind as background for my talk, while I try to throw a flashlight on tv/o parts of the general picture which seem to me to be points that are very important. Point No. 1: I want to talk plainly about some problems and dangers which, unless you overcome them, may seriously weaken the usefulness of farm leadership to the nation in the years ahead. The American Farm Bureau Federation must not only make sure that its policies are foursquare with the broad national interest; it must do a better job than it has been doing to convince the rest of the country that this is the case. Point No. 2: V/e have seen how a nation fighting for its life can employ all of its human and material resources in high and sustained production. V/e know that this all-out effort has meant a high and widely distributed national income. The problem that confronts us is to continue high levels of production and income after the nation has turned from war to peace.
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Date: December 7, 1943
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