[Weekly Compilation of Presidential Documents Volume 39, Number 42 (Monday, October 20, 2003)]
[Pages 1373-1374]
[Online from the Government Publishing Office, www.gpo.gov]

<R04>
The President's Radio Address

October 11, 2003

    Good morning. Six months ago this week, the statue of Saddam Hussein 
came down in the center of Baghdad, and Iraq began the transition from 
tyranny to self-government. The goal of our coalition is to help the 
Iraqi people build a stable, just, and prosperous country that poses no 
threat to America or the world. To reach that goal, we are following a 
clear strategy.
    First, coalition forces in Iraq are actively pursuing the terrorists 
and Saddam holdouts who desperately oppose freedom for the Iraqi people. 
Secondly, we are committed to expanding international cooperation in the 
reconstruction and security of Iraq. And third, we are working closely 
with Iraqi leaders as they prepare to draft a constitution, establish 
institutions of a civil society, and move toward free elections.
    As part of this strategy, we're helping Iraqis to rebuild their 
economy after a long era of corruption and misrule. For three decades, 
Iraq's economy served the interest only of its dictator and his regime. 
Saddam Hussein built palaces and monuments to himself while Iraq's 
infrastructure crumbled. He built up a massive war machine while 
neglecting the basic needs of his own people.
    Now that the dictator is gone, we and our coalition partners are 
helping Iraqis to lay the foundations of a free economy. This coming 
week, the Iraqi economy will reach an important milestone with the 
introduction of a new currency. The new Iraqi dinar notes will bear the 
images of Iraq's proud heritage and not the face of a hated dictator. 
For more than a decade, different areas of Iraq have used two different 
versions of the dinar, and many of those notes were counterfeit, 
diminishing the value of those that were genuine. The new dinar will be 
used throughout Iraq, thereby unifying the economy and the country. The 
new currency will have special features that will make it difficult to 
counterfeit. Following World War II, it took 3 years to institute a new 
currency in West Germany. In Iraq, it has taken only 6 months, and the 
new currency symbolizes Iraq's reviving economy.
    Iraq has a strong entrepreneurial tradition, and since the 
liberation of that country, thousands of new businesses have been 
launched. Busy markets are operating in villages across the country. 
Store shelves are filled with goods from clothing and linens to air 
conditioners and satellite dishes. Free commerce is returning to the 
ancient region that invented banking.
    With our assistance, Iraqis are building the roads and ports and 
railways necessary for commerce. We have helped to establish an 
independent Iraqi central bank. Working with the Iraqi Governing 
Council, we are establishing a new system that allows foreign investors 
to confidently invest capital in Iraq's future. And we have helped 
restore Iraq's oil production capacity to nearly 2 million barrels a 
day, the benefits of which are flowing directly to the Iraqi people.
    Iraq is making progress. As the mayor of Kirkuk, Abdul Rahman 
Mustafa, recently said, ``Our economic potential has barely been 
tapped.'' We must help Iraq to meet that potential. The request I have 
made to Congress for Iraqi reconstruction includes support for important 
health and training projects. Under our strategy, Iraq will have 
employment centers to help people find jobs. We intend to establish 
computer training and English language instruction and vocational 
programs to help Iraqis participate fully in the global economy. I urge 
Congress to pass my budget request soon so this vital work can proceed.
    Americans are providing this help not only because our hearts are 
good but because our vision is clear. A stable, democratic, and 
prosperous Iraq will no longer be a breeding ground for terror, tyranny, 
and aggression, and a free Iraq will be an example of freedom's power 
throughout the Middle East. Free nations are peaceful nations. By 
promoting freedom and hope in other lands, we

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remove direct threats to the American people. Our actions in Iraq will 
increase our safety for years to come.
    Thank you for listening.

Note: The address was recorded at 9:01 a.m. on October 10 in the Cabinet 
Room at the White House for broadcast at 10:06 a.m. on October 11. The 
transcript was made available by the Office of the Press Secretary on 
October 10 but was embargoed for release until the broadcast. In his 
remarks, the President referred to former President Saddam Hussein of 
Iraq. The Office of the Press Secretary also released a Spanish language 
transcript of this address.