Statement by the President following House Action on the Wheat-Cotton and food Stamp Bills.

THE PASSAGE yesterday of the cotton-wheat bill by the House represented good judgment and economic progress. All Americans will be benefited.

This action can forestall severe economic difficulties in areas where wheat is a major source of income and, in turn, this will sustain job levels in communities that serve the farmer and his family and manufacture the things he needs.

Taxpayers will gain through lower costs as excess supplies of cotton and wheat are reduced to adequate reserve levels.

The action of the House yesterday evening has a twofold value. first, the passage earlier of the food stamp program is a step toward insuring that people can benefit from the Nation's food abundance by setting up a. permanent food stamp plan. This bill now goes to the Senate.

Second, the cotton-wheat bill means that the farmers on the land gain a fairer share of the returns out of their productive efforts.

To all those who worked so hard and so long to produce this sound measure I Offer thanks and my congratulations on behalf of our people.