Freedom has been defined as the opportunity for self-discipline.  This definition has a special application to the areas of wage and price policy in a free economy.  Should we persistently fail to discipline ourselves, eventually there will be increasing pressure on government to redress the failure.  By that process freedom will step by step disappear.  No subject on the domestic scene should more attract the concern of the friends of American working men and women and of free business enterprise than the forces that threaten a steady depreciation of the value of our money.

Concerning developments in another vital sector of our economy—­agriculture—­I am gratified that the long slide in farm income has been halted and that further improvement is in prospect.  This is heartening progress.  Three tools that we have developed—­improved surplus disposal, improved price support laws, and the soil bank—­are working to reduce price-depressing government stocks of farm products.  Our concern for the well-being of farm families demands that we constantly search for new ways by which they can share more fully in our unprecedented prosperity.  Legislative recommendations in the field of agriculture are contained in the Budget Message.

Our soil, water, mineral, forest, fish, and wildlife resources are being conserved and improved more effectively.  Their conservation and development are vital to the present and future strength of the Nation.  But they must not be the concern of the Federal Government alone.  State and local entities, and private enterprise should be encouraged to participate in such projects.

I would like to make special mention of programs for making the best uses of water, rapidly becoming our most precious natural resource, just as it can be, when neglected, a destroyer of both life and wealth.  There has been prepared and published a comprehensive water report developed by a Cabinet Committee and relating to all phases of this particular problem.

In the light of this report, there are two things I believe we should keep constantly in mind.  The first is that each of our great river valleys should be considered as a whole.  Piecemeal operations within each lesser drainage area can be self-defeating or, at the very least, needlessly expensive.  The second is that the domestic and industrial demands for water grow far more rapidly than does our population.

The whole matter of making the best use of each drop of water from the moment it touches our soil until it reaches the oceans, for such purposes as irrigation, flood control, power production, and domestic and industrial uses clearly demands the closest kind of cooperation and partnership between municipalities, States and the Federal Government.  Through partnership of Federal, state and local authorities in these vast projects we can obtain the economy and efficiency of development and operation that springs from a lively sense of local responsibility.