nd were more than the surface movements he speaks of, and that
slowly but definitely industrial arrangements are undergoing
modification so as to give scope to new energies and ideas which will
modify the "normal" distribution and exchange as he conceived it. The
future in the United States is even less clearly marked. There too new
purposes and claims are arising and will seek adjustment with
established arrangements.

The attitude of all those who really desire industrial peace must be
that of readiness to judge such forces of change as may become active,
by the balance of good or harm they seem to promise. For that is the
attitude which alone can make possible a fusion of the conservatism of
experience and of established interest, and the radicalism of hope and
desire--by which fusion society can experience peaceful development.

FOOTNOTES:

[1] "New York Harbor Wage Adjustment," B. M. Squires,
_Monthly Review of the U. S. Department of Labor_, Sept.,
1918, page 19.

[2] A. Marshall, "Principles of Economics," 7th Edition,
page 628.

CHAPTER II--SOME PERTINENT ASPECTS OF THE PRESENT INDUSTRIAL SITUATION

Section 1. The chief aims of any policy of wage settlement for
industrial peace defined--the chief tests to be passed. A knowledge
of present industrial facts essential to the formulation of sound
policy.--Section 2. The present economic position of the wage
earners.--Section 3. Their relations to the other groups in
industry. The acceptance of the practice of collective bargaining
essential to any policy of wage settlement in the United States
to-day. Trade unionism must prove itself fit for this
responsibility, however.--Section 4. The economic position of
capital in the present industrial order. Its service to production.
The problems to which the accumulation of capital has given
rise.--Section 5. The economic position of the directors of
industry. Industrial control an attribute of ownership. Two
important suppositions used in this book, concerning: a. The forms
of industrial income; b. The possible spread of public ownership,
and its consequences for a policy of wage settlement.

1.--The problem of wage settlement may be regarded as the task of
elucidation or invention of methods and principles in accordance with
which the product of industry might be shared among the wage earners and
the other participants in the