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considering unemployment before the election. He was one of the employers I knew to be forward-looking and helpful. He had worked hard in the NRA.

In the course of the noon hour he had made some notes on a piece of paper. He rose and delivered himself of a very considerable economic address, which, although polite toward the President, did not agree with this idea that had been expressed in the last paragraph of the President's remarks that to raise all wages in all codes at this time by uniform action would necessarily increase the purchasing power, or increase the production. He pointed out why, the differences between industries, the fact that some industries were dependent upon certain other industries, and that if the course of the suppliers got out of line with the cost of the manufacturers, you then had a stalling because it was too expensive to manufacture the thing that was going to employ the largest number of men. Whereas there were some industries where wages could be raised, and he freely admitted that he thought there were certain codes where wages should be raised, it couldn't be done this way. In other words, it was the same old thing. It had to be done code by code, which we knew was the proper way to do it.

Then one after the other they got up to speak. Finally, Dexter Keezer read a paper. It just shows that