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2nd of the tragedy of unemployment, until such an Institute
is set up and its findings intelligently acted upon.

Dr. Jeremiah W. Jenks, altho sympathetic with many
of the statements and analyses of Mr. Javits, considered
his plan for an Institute of Industrial Coordination as an
“utterly impractical” one within any reasonable period of
time. It was also opposed by Amos L. Beaty, former
President of the Texas Company; by William O’Neil,
President of the General Tire and Rubber Company, and
by Magnus W. Alexander, President of the National Industrial
 Conference Board. President C. E. Mitchell, of
the National City Bank of New York City, stated that
he considered the “present is in the right direction” and
was “disposed to avoid agitation and await developments.’
From the general discussion of the proposals of Mr.
Javits, it is clear, however, that the business world, altho
it differs, as might be expected, in the machinery to be used
and in the degree to which action should be taken, is convinced
 that future progress is contingent upon the repeal
of the anti-trust laws, the creation of agencies of regulation
 of unrestricted competition and production and the
establishment of effective coordination of industrial programs
 and performance. Already a Special Advisory
Committee, under the chairmanship of Mr. Manny Straus
of New York City has been created to bring together
industrial executives in the effort to have them solve the
problem of industrial coordination through common
counsel and concerted action.?
Even before the publication of the principles and proposals
 of Mr. Javits, the same trend in the development
of industrial statesmanship was already coming into notice.

1 The foregoing comments as well as other pertinent discussions are taken
from the issues of Forbes Magazine from July 15 to Sept. 15, 1928.
2 Thid., Sept. 1. 1928.