174 The Stock Market Crash—dAnd After 
boosted to the injury of that industry and all related 
industries. 
American industry has reached its present state of 
unprecedented efficiency and prosperity, and the 
American stock market has reached a new and prob- 
ably permanent level of higher prices of securities, 
partly through the recognition, however dimly, of 
the fact that, while workers and employers have dif- 
ferences of viewpoint and of interest, their aims are, 
in the main, in harmony rather than in conflict.