Proclamation 4576

By the President of the United States of America A Proclamation

The development of the American economy has historically been the result of the interaction between the abundant natural resources of our land and the enterprising spirit of our people. Our system of economic enterprise reflects many of the same values that are embodied in our political system of democracy and civil liberty.

Excessive government regulation-regulation that does not serve the public interest-must concern us all. Unfortunately, free enterprise is sometimes easier to praise than to practice. But all who believe in free enterprise can take heart from the fact that when it is reintroduced into areas of our economy where it has long been dormant, the results can be salutary. A good example is the airline industry, where recent administrative steps toward greater competition have quickly led to both lower fares and higher profits, confirming the advisability of permanent deregulation by law.

By joint resolution (S.J. Res. 128), the Congress has authorized and requested the President to issue a proclamation designating July 1, 1978, as "Free Enterprise Day."

Now, THEREFORE, I, JIMMY CARTER, President of the United States of America, do hereby proclaim July 1, 1978, as Free Enterprise Day. I call upon the people of the United States and interested groups and organizations to mark this observance with appropriate ceremonies and activities.

IN WITNESS WHEREOF, I have hereunto set my hand this thirtieth day of June, in the year of our Lord nineteen hundred seventy-eight, and of the Independence of the United States of America the two hundred and second.

JIMMY CARTER

[Filed with the Office of the Federal Register, 11:04 a.m. July 3, 1978]