160 The Stock Market Crash—dAnd After 
economy and production may be completely accom- 
plished. Through the development of a codpera- 
tive spirit and the establishment of a frank relation- 
ship the rewards of the efforts of all those asso- 
ciated with industry can be equitably distributed. 
“The wisdom of such a policy will be made mani- 
fest in a high standard of workmanship, in increased 
industrial earnings, in waste elimination, and in the 
personal contact between management and workers 
which is free from suspicion, antagonism and 
hatred.” 
Under the leadership of William Green, Labor 
now boasts of trying to save waste, realizing that the 
ultimate source of wages is productivity. “We will 
rely on facts rather than on force,” President Green 
announced at the annual convention of his organiza- 
tion in Los Angeles in 1927. This was in comment 
on the report of the Federation's Executive Council 
that “unless workers are to be put at a disadvantage 
in maintaining and advancing wages, unions must 
gather their own statistics and make their own inter- 
pretations of the statistics compiled by statistical 
bureaus and employers.” 
John P. Frey, a member of the Council, declared 
that the Federation's principle that “wages of work- 
men must keep pace with their increasing power of 
production, has given the world a new instrument 
with which to measure wages.” 
In these statements lies the kernel of labor's new 
policy of fact-finding in furtherance of its battle for 
higher wages and increased purchasing power. Pro-