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Additional copies of this report are for sale by the Superintendent of Documents, U. S. Government Printing Office, Washington 25, D. C.

Price of single copy 10 cents.

(II)

DEPOSITED BY THE UNITED STATES OF AMERICA

1-29-47

The President.

Letter of Transmittal

COUNCIL OF ECONOMIC ADVISERS,

Washington, D. C., December 18, 1946.

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SIR: The Council of Economic Advisers herewith submits its First Annual Report in accordance with the requirements of Congress as set forth in the Employment Act of 1946.

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