industry were permitted to write their ideas into the codes. It is
now time to review these actions as a whole to determine through
deliberative means in the light of experience, from the standpoint
of the good of the industries themselves, as well as the general
public interest, whether the methods and policies adopted in the
emergency have been best calculated to promote industrial recovery
and a permanent improvement of business and labor conditions. There
may be a serious question as to the wisdom of many of those devices
to control production, or to prevent destructive price cutting
which many business organizations have insisted were necessary, or
whether their effect may have been to prevent that volume of
production which would make possible lower prices and increased
employment. Another question arises as to whether in fixing minimum
wages on the basis of an hourly or weekly wage we have reached into
the heart of the problem which is to provide such annual earnings
for the lowest paid worker as will meet his minimum needs. We also
question the wisdom of extending code requirements suited to the
great industrial centers and to large employers, to the great
number of small employers in the smaller communities.

During the last twelve months our industrial recovery has been to
some extent retarded by strikes, including a few of major
importance. I would not minimize the inevitable losses to employers
and employees and to the general public through such conflicts. But
I would point out that the extent and severity of labor disputes
during this period has been far less than in any previous,
comparable period.

When the businessmen of the country were demanding the right to
organize themselves adequately to promote their legitimate