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I appeared to speak for labor on the Steel Code, because there was no one else to and because there was no organization in the steel union. So when it came turn for labor to be represented, I stood up and said that I spoke for, or in behalf of, the working people in this industry. I went all over my testimony, every detail of what I had to say, not only with Lubin and the people in my Department, but with Sachs. I remember plainly his laying out to me this proposition of the optimum wage and the optimum production. In this Steel Code, he said, we had hit upon the exact optimum for production and for the wage. I could safely defend the wage scheme, and of course hours are a part of the wage scheme, because the production rests somewhat upon the hours. That was very interesting. The statement is very interesting, and that part of it represents not my thinking, but Sachs' thinking. In other words, he did the thinking on that part about the optimum wage and production. I merely accepted it from him after I was convinced that he was correct. Lubin, of course, vouched for the statistical material that was there and he vouched for the general economic soundness of Sachs' thinking, if, said Lubin, “you're going to accept the idea that industry can be revived by this method.”

Although Lubin and the rest of us went in and worked