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fe of the nation in times of peace. We have been called together to consider the industrial problem. Only as each of us discharges his duties as a member of this conference in the same high spirit of patriotism, of unselfish allegiance to right and justice, of devotion to the principles of democracy and brotherhood with which we approached the problems of the war, can we hope for success in the solution of the industrial problem which is no less vital to the life of the nation. There are pessimists who say that there is no solution short of revolution and the overturn of the existing social order. Surely the men and women who have shown themselves capable of such lofty sacrifice, who have actually given themselves so freely, gladly, unreservedly, as the people of this great country have during these past years, will stand together as unselfishly in solving this great industrial problem as they did in dealing with the problems of the war if only right is made clear and the way to a solution pointed out. The world position which our country holds to-day is due to the wide vision of the statesmen who founded these United States and to the daring and indomitable persistence of the great industrial leaders, together with the myriads of men who with faith in their leadership have cooeperated to rear the marvelous industrial structure of which our country is justly so proud. This result has been produced by the cooeperation of the four factors in industry, labor, capital, management and the public, the last represented by the consumer and by organized government. No one of these groups can alone claim credit for what has been accomplished. Just what is the relative importance of the contribution made to the success of industry by these several factors and what their relative rewards should be are debatable questions. But however views may differ on these questions it is clear that the common interest cannot be advanced by the effort of any one party to dominate the other, to dictate arbitrarily the terms on which alone it will cooperate, to threaten to withdraw if any attempt is made to thwart the enforcement of its will. Such a position is as un-American as it is intolerable. Almost countless are the suggested solutions of the industrial problem which have been brought forth since industry first began to be a problem. Most of these are impracticable; some are unjust; some are selfish and therefore unworthy; some of them
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