AGRICULTURAL RELIEF

507

will become the law of laws, thus to bring about equitable distribution—the
prevention of underconsumption. Everyone will be benefited. Civilization is
to take on added attractions.

For example, the present-day intense competition between the business units
in each industry, with a few exceptions, is forcing a considerable proportion to
sell below cost; whereas the application by Congress of the proposed Federal
trade system will forthwith result in regulated competition, in the interest of
all concerned. While excessive profits will be prevented there will also come
stabilization for the capital invested.

Among our farmers the installation of the Federal agricultural system will
result in regulated acreage for the staple crops, with similar systems throughout
the countries of earth. A new high level of precision will be brought ahout in
agricultural production and distribution. Among the various improvements
each large vield in a crop that is capable of being partly carried over will be
thus handled by the use of the equalization fee, contributed by all who receive
the benefit of the higher price, naturally. In fact, whatever the field of endeavor
that the majority in an industry shall decide should be financed by the industry
for its welfare, will be thus financed. In South Africa in the ostrich-feather
industry this cooperative system for an entire industry is being applied, as I
have set forth. In this country the advertising of raisins to increase the con.
sumption is going to be paid for by all of the growers, in place of the exist-
ing system in which there is no way to collect from all who are benefiting by
the advertising.

IX. StmMMARY AND CONCLUSION o To INDUSTRIAL DEMOCRACY IN UNITED
TATES

The foregoing presentation shows:

1. Industrial democracy is a new institution, parallel to political government.

2. The application of this industrial democracy to this Nation’s industries,
including agriculture, will benefit everyone.

3. The explanation of why there has been the delay in publicity for the new
institution, industrial democracy, is evidently connected with some good pur-
pose. At any rate now that publicity for it has come the duty of statesmen is
to study it. You who are members of this House Committee on Agriculture
are judges as to its merits, and I suggest that vou invite the various experts
in industry and in Government to supply you with their views of my two bills.

4. The points of superiority of industrial democracy over the Haugen bill
include the following:

A. The relief needed is for the world-wide industrial crisis. The enactment
of the Haugen bill would increase the evil conditions.

B. The needed remedy, which we are proposing is self-regulation by industries
by majority rule by the citizens most vitally interested, with protection of the
minority and the public by Government supervision by liberal Government.
The outcome will be regulated competition in the new age, a system of civil
liberty, freedom. It will be a return to the basic principle of our Republic.

The foregoing and much more 1 am setting forth in a volume of 300 large
pages, about to be issued, the title being World-Wide Industrial Crisis and the
Way Out in 1928.
wa publisher is The New Age Press, Washington, D. C., 101 Second Street

Later I hope to present to this committee the substance of the reviews.
X: GENERAL SUMMARY

As a whole, the general summary is that our proposed industrial remedies for
the world-wide industrial crisis are:

1. The stabilization of the price level. This will end the business cvcle of
good times and hard times. Continuously good times are to exist.

2. The stabilization of individual prices—the maintaining of an equilibrium
of prices. The prices to be charged in each industry, including agriculture, are
to be such that the products can be distributed with an output at full speed, or
nearly so.

3. The ending of underconsumption from concentrated wealth. The time has
come when either the underconsumption from this concentrated wealth is to be
brought about intelligently or there is to come a world-wide wreckage.