22 The Stock Market Crash—And After 
self. Through personal interviews and public con- 
ferences with leading employers he sought to set 
standards whereby, so far as they were concerned, 
there would be no movement to reduce wages. Cor- 
responding assurance was obtained from the leaders 
of organized labor that they would help allay con- 
flicts in full cooperation with employers, avoiding all 
issues that involved wage increases. By this coopera- 
tion between Capital and Labor, continuity in con- 
sumer’s purchasing power was assured, with the re- 
moval of fear of general unemployment. This would 
not, of course, increase consumers’ purchasing power, 
except to some extent through possible changes in 
distribution of products among workers, managers, 
enterprises and capitalists. The point was that pur- 
chasing power would be kept from decreasing 
through any serious stoppage of the wheels of 
industry. 
The third step was of a more permanent nature. 
[In the President's words, it was to ‘‘undertake, 
through voluntary organization of industry, the con- 
tinuity and expansion of the construction and main- 
tenance work of the country, so as to take up any 
slack in employment which arises in other directions.” 
The President continued : 
“The greatest tool which our economic system 
affords for the establishment of stability is the con- 
struction and maintenance work, the improvements 
and betterments and general clean-up of plants in 
preparation for cheaper production and the increased 
demand of the future.