| OCR Text |
Show THANK YOU, MR. CHAIRMAN. LADIES AND GENTLEMEN: I am very pleased to be here and more particularly pleased to see all of you here. When I received the official announcement of this 8TH ANNUAL BUSINESS CONFERENCE, I felt that the part of the program in which I was to participate may have been priced out of the market. One could attend only the daytime events for $14, and for this you were privileged to listen to a distinguished member of the Cabinet, the Dean of the University of California Graduate School of Business Administration, and 12 esteemed Californians from industry and agriculture, 14 in all, or $1 a head plus lunch. In the evening all you got for $9 was dinner and me and, good as the dinner was, it wouldn't warrant an $8 price tag. I am convinced now that the audience here consists of those who took advantage of the combination offer for the full Conference at $20, justifying the expense on the grounds that the day's events were worth $14, the dinner $6 and I came along like blue chip stamps with the purchase. However we rationalize your presence here, it is a privilege to be with you and to have the opportunity to talk to you about California Growth -- Its Past, Prospects and Perils. As to the past, it is hard to speak of California's record of progress in modest terms, even if the thought occurred to us. During the last 100 years California's population has expanded at an annual rate of 3. 8%, |