244 INDUSTRIAL REVOLUTION AND WAGES 
conditions. Such a constructive program, it was shown, 
would tend to stabilize and make more uniform the demand 
for labor, and would ameliorate the sufferings of tempo- 
rary crises arising from maladjustments between industrial 
production and consumption. 
From the standpoint of a permanent removal of the 
unemployment evil, three plans of procedure, outside of 
the internal control of industry, have also in the meantime 
been put forward: (1) to develop markets abroad which 
would supplement domestic demand by absorbing the sur- 
plus output of American industry; (2) to increase domestic 
demand for industrial products by developing a higher 
degree of domestic purchasing power through advancing 
the rates of pay of industrial workers, or, in other words, 
giving to them a larger share in the productive gains of 
industry; and (3) the establishment under the auspices of 
the Federal Government of a Board that would collect and 
disseminate all forms of information relative to the 
stabilization of business and industry, with the under- 
standing that the Board itself, on the basis of these data, 
would make recommendations as to policy with the 
object of preventing dislocations in production and dis- 
tribution. 
This latter proposal is a splendid one, and, if properly 
restricted as to form and jurisdiction, is thoroughly prac- 
tical. Some such agency is inevitable in order that infor- 
mation may be collected and disseminated for the benefit 
of industry and also as a basis of study by disinterested 
public representatives charged with formulating policies 
for the proper coordination of industrial activities. . Lead- 
ing representatives of industry itself, as will be shown 
iE In a theoretically sound but practically impossible form, at present, such a 
budgetary board has been advocated in “The Road to Plenty,” by William T. 
Foster and Waddill Catchings; publications of Pollak Foundation, Boston, 1928; 
also in an article in the Century Magazine, July, 1928, by the same authors, 
entitled “Progress and Plenty.”