LOWER COSTS AND HIGHER WAGES 21%

the products of your work has to be sold abroad before you
get the improved, steady wages which are based on mass pro-Juction,
 mass distribution and mass consumption, and before
[ get the mass selling which permits low prices and small unit
profits on, however, the large number of articles which allow
you to keep up the high American standard of living.
Before the war we Americans consumed practically everything
 we produced. But now, as a result of the World War
demand and to keep up the mass production and mass distribution
 on which depends our high standard of living, we
have a producing capacity of more than 20 per cent. more
goods than we consume.
Unless we sell abroad in greater quantities, our home marets
 will be glutted with goods, with inevitable stoppage of
production, reduction in wages and profits, and consequent
still further reduction of consumption. . . .
How, then, can we get foreign countries to be increased
customers of American products?
First, I should say, by continuing to prove still more convincingly
 that the American method—as Europe calls our
science of mass production and mass distribution—is the best
tnown method of raising and holding a high standard of living.

Secondly, by backing up the efforts of our representatives
in Congress and officers and delegates of trade unions in
securing increased good-will between nations. In this connection
 the International Labor Office, at Geneva, with which
American labor is affiliated, is working with the International
Management Institute, also at Geneva, to interchange data
on mechanical improvements and waste-saving methods developed
 in America and Europe, to bring more work and
higher pay and profits for us all.
Thirdly, by wise and discriminating spending, which will
make for increased demand and so through the cycle of mass
consumption, mass production and mass distribution, make for
larger markets at home and abroad for the increasing products
 of our own work.