a maximum productivity up to the total necessities of
our population.

Another economic result is, or will be yet, a repercussion upon the
fundamental industry of the United States, that is, agriculture. For the
farmer will be unable to maintain his production in the face of a
constant increase in the cost of his supplies and labor through
shrinkage in production in other industries. The penalty of this
disparity of effort comes mainly out of the farmer's own earnings.

I am daily impressed with the fact that there is but one way out, and
that is again to reestablish through organized representation that
personal cooeperation between employer and employee in production that
was a binding force when our industries were smaller of unit and of less
specialization. Through this, the sense of craftsmanship and the
interest in production can be re-created and the proper establishment of
conditions of labor and its participation in a more skilled
administration can be worked out. The attitude of refusal to participate
in collective bargaining with representatives of the employees' own
choosing is the negation of this bridge to better relationship. On the
other hand, a complete sense of obligation to bargains entered upon is
fundamental to the process itself. The interests of employee and
employer are not necessarily antagonistic; they have a great common
ground of mutuality and if we could secure emphasis upon these common
interests we would greatly mitigate conflict. Our government can
stimulate these forces, but the new relationship of employer and
employee must be a matter of deliberate organization within industry
itself. I am convinced that the vast majority of American labor
fundamentally wishes to cooeperate in production, and that this basis of
goodwill can be organized and the vitality of production re-created.

Many of the questions of this industrial relationship involve large
engineering problems, as an instance of which I know of no better
example than the issue you plan for discussion tomorrow in connection
with the soft coal industry. Broadly, here is an industry functioning
badly from an engineering and consequently from an economic and human
standpoint. Owing to the intermittency of production, seasonal and
local, this industry has been equipped to a peak load of twenty-five or
thirty per cent over the average load. It has been provided with a
twenty-five or thirty per cent larger labor complement than it w