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AGRICULTURAL RELIEF
CONSTRUCTION
Sec. 25. For the carrying out of the declaration of purpose, there isjherewith
granted all of the necessary powers.
SEPARABILITY OF PROVISIONS
Sec. 26. If any provision of this act is declared unconstitutional or the appli-
cability thereof in any respect shall be held invalid, the validity of the remainder
of the act and the applicability to other parts shall not be affected thereby.
SHORT TITLE
Sec. 27. This act may be cited as ‘“ The Federal trade act.”
ELEMENTS IN FOREGOING BILL
1. Industrial democracy, a new institution: The foregoing bill provides: for
self-regulation in trade among the business firms, subject to a veto power and
power of initiative in the Government’s legislative department for the protection
of the public. (Secs. 1-8.) The methods of self-regulation are stated at sec-
tions 2-14 of the trade bill and sections 1-15 of the agricultural bill.

The result of the system is to be regulated competition in industry, including
agriculture, to include the limitation of acreage in the various crops in this country
(sec. 7) and abroad. Also in mining and in the factories the self-regulation and
Government supervision will attain an equilibrium of incomes, so that each
industrial group, including agriculture, can purchase its fair share of the full-time
output of the other groups. Such is to be the outcome of an intelligent regulation,
here and abroad, the new system being industrial democracy, parallel to political
democracy. It is to be a middle course between the unworkable communism and
the old-age rule of the few. The middle course is to be equal rights in private
enterprise, an outcome from regulated competition. It will be civil liberty,
freedom. It will end the dreadful underconsumption. Everyone will be
benefited.

2. The legislative department: In the proposed system the legislative depart-
ment of the National Government is to retain a veto power as to the policies
proposed by the Government commissions (sec. 4 in the trade bill and sec. 3 in
the agricultural bill). No longer are the Federal judges, appointed for life, to
possess a veto power as to economic policies, a system that was installed in Gov-
ernment commissions in this country after the voters had lost the power to rule
by the installation of machine-rule party government (p. —). But now in the
new age of universal suffrage a reconstruction in government and industry is
taking place. It is to end the economic underconsumnption, so that factories.
mines, and farms may run full-handed.

3. The administrative department: In the proposed system there is restored
to the President a responsibility for the proper administration of the executive
departments, by providing that in each Government commission its decisions
shall be by the President's appointee in the department—the Secretary of
Agriculture in the agricultural field. This is the policy that is being advocated
by President Coolidge.

The existing independent commissions for the decision of policies as well as the
decision of questions of fact was invented in Illinois to defeat the granger uprising
at the polls in the 1870's. There was defeated the rule of the people (p. —).
Now there is to be restored an effective system of representative government, in
connection with regulated competition, to result in an unprecedented prosperity.

4. The judicial department: In the proposed bills the judicial department of
the National Government is to receive the judicial function (secs. 5 of the trade
bill and 4 of the agricultural bill). The Federal judges, appointed for life, should
not be vested with legislative power to veto economic policies.

5. Summary of the bills: The foregoing suggestions for two bills in Congress

are the application of the principles of industrial democracy, that are in the Fed-
eral reserve system, with improvements.
y 6. Yurines needs: Further needs are (1) for the passage of a bill for stabiliza-
lon of the price level (p. 29) as a basis on which to stabilize the individual prices;
(2) various other developments are to be brought about in connection with indus-
trial democracy, so as to restore equal rights in private enterprise and end the
underconsumption. ’