Labor’s Codperative Policy 151 
duction per worker increases with the advance in the 
arts. 
Index Number Instruments of New Policy 
[ndex numbers must be the tools of this new policy, 
as enunciated by union labor. They constitute 
labor’s scorecard. 
It was by index numbers that Professor E. E. Day 
and Woodlief Thomas, of the Federal Reserve 
Board's statistical division, found that from 1889 
to 1925 the volume of physical production of manu- 
factured goods in this country increased by 178 per 
cent, while the relative number of wage earners 
increased by only 87 per cent, and productivity per 
worker rose about 49 per cent. The increase in 
productivity has gained in speed so that the average 
rate of increase from 1921 to 1925 was about 7 per 
cent a year, as compared with but one-fourth of 1 
per cent increase for the preceding twenty years. By 
index numbers, again, the National Bureau of Eco- 
nomic Research finds an increase in real income of 
27 per cent since 1919; and, as the real income of 
the farming class has decreased, the industrial popu- 
lation has gained even more. 
Largely through the incentives produced by watch- 
ing these index numbers, as the scorecards of produc- 
tivity, I have no doubt that the welfare of labor is 
well on the way to be doubled. The substitution of 
fact-finding for fault-finding, of common council for 
conflict, coupled with better organization, more hu- 
mane and enlightened management and greatly