164 The Stock Market Crash—And After 
waukee & St. Paul, as well as the Grand Trunk 
Western. 
Mr. Willard has said that the only real change in 
men and management, since the initiation of the plan 
by the Baltimore & Ohio employees, was ‘above the 
ears.” Mor. Beyer, acting in behalf of the workers, 
states these as the main principles of the new policy: 
“(a) Full and cordial recognition of the feder- 
ated shopmen’s unions as the agent of the em- 
ployees. 
“(b) Conceding to these unions and their spokes- 
men constructive as well as protective functions in 
railroad management. 
“(c) Agreement between these unions and man- 
agement to cooperate for improved service to the 
public. 
“(d) Agreement to share fairly any consequent 
benefits. 
“(e) Projection of definite administration ma- 
chinery to accomplish these purposes.” 
The benefits of the Baltimore & Ohio experi- 
ence have undoubtedly contributed to the economies 
that are being reflected in the higher standards of 
living enjoyed by this nation. A like satisfying of 
fundamental human instincts is noted in the report of 
the Committee on Recent Economic Changes in the 
contract signed between the Amalgamated Associ- 
ation of Street and Electric Railway Employees of 
America and the Philadelphia Rapid Transit Rail- 
way, agreeing to share in management and owner- 
ship of the system.