uct, as
will justify it to the wage earners and to the community in general.

If the objection be raised that the establishment of such a scheme of
wage relationship is not practicable, doubt must be admitted. Yet it is
probably essential to industrial peace,--under our present industrial
system, or under an alternative one. It would seem to be the only
substitute for the continued reliance of each group upon group power.
There has been a strong tendency, both in the United States and England,
to believe that industrial peace could be secured by the development of
joint industrial or occupational councils throughout industry--which
councils would assure fair and complete consideration of all wage
questions which arise. It would be a serious error to underestimate the
possible value of such joint councils to the cause of industrial peace.
Indeed, throughout this study of the means of industrial peace great
reliance will be placed upon them. Yet I do not believe that their
creation will suffice to bring industrial peace.

Such joint councils are among the most satisfactory instruments yet
devised for the conduct of collective bargaining. But will collective
bargaining keep such an interdependent industrial society as our own at
work peacefully? Can the philosophy of compromise be developed to that
extent? Joint industrial councils can produce understanding between
employers and wage earners; they can foster a spirit of cooperation
between all groups engaged in a productive industry; they can stand in
the way of the creation of such intolerable conditions of labor as have,
on occasion in the past, led to a spontaneous revolt in an industry;
they can foster reasonableness and compromise. But it is difficult to
see how they can work out principles of wage settlement for any industry
which will have sufficient authority over the actions of those engaged
in it in times of stress.

Before industrial peace can be obtained, particular groups of wage
earners must forbear from pressing to the utmost the bargaining
advantages they possess. This forbearance will come only from a
knowledge of an interest larger than their own. There will have to be a
recognition by all sides of principles which represent aims to which all
subscribe, and which do justice to the interests of each.

2.--What then is required, to repeat, is a policy by which wages in
various industries and occupations are brought into relation with each
other. This