CONSTRUCTIVE REMEDIES NEEDED 247 Lewis E. Piersons, former president of the United States Chamber of Commerce, also declared! in May, 1928: As production increased, it became apparent that consumption must keep pace with production and that, unless the consuming public had the funds with which to purchase. mass production could not long continue. [t was not a long step from this to the realization that a general diffusion of high wages and earnings was a necessary corollary of our industrial philosophy. The voice of organized labor has already been lifted in an appeal for cooperation. In any move to eliminate unemployment or to maintain present standards of living, we can confidently count upon the support of those who are first to feel the effect of unbalanced prosperity and the first to benefit by the wider diffusion of the fruits of increasing produc-100 Bankers, students of economics, publicists, and government officials have all, as has been shown, unreservedly accepted and advocated this constructive policy as the basis of maintaining industrial prosperity and for offsetting the menace of industrial retardation and unemployment. While this method of procedure is undoubtedly sound, it is also clear that it cannot be successfully carried out unless it is accompanied by general methods of cooperation, the fundamental object of which shall be the constant adjustment of production to consumption. As the former head of the United States Chamber of Commerce has truly said, “Nothing could induce us to abandon voluntarily our trinity of high production, high earnings and high consumption, yet unless we can work out more scientific States Banat the Annual Meeting of the Chamber of Commerce of the United