The Waterbury Democrat., 1934-01-20
By JOHN c. CRESSWILL fFrnn, Wall Street Magnzine)

Big business has reluctantly come to the conclusion that 1t in. escapably confronts a new order of p0Iitico- economic relations.
 The occupants of the seats of the industrial mighty recently met in solemn conclave several times before one of their number with a broad democratic view bluntly in- formed the hallowed group that they were making the greatest public relations mistake of their collective careers-assuming that It were possible to make a record of that kind at this late stage. Much to the surprise and even to the consternation of the high and mighty company, he drew picture of. the storm of ridicule, the Rabe- laisian laughter that would blow over the country the moment the common people of industry as well as of the general public were per raitted to know that the inner council (recalling the three taiiors of Bond street) had decided their fate.
 The latest information, as this is written, is to the effect that the dinosaurs of the American indus trial scene have consented to rele- gate their council of the high and mighty to the rear. The task of realizing an acceptable union of government and business is being assumed by more democratic minded members of the group, who have reconciled themselves to the decisions:
 (1) Business's day of ascend clicy over the national govcrn- ment Is definitely ended.
 (2) Industry will be incrcas- ingly socialized.
 (3) Business leaders should support progressive specialization ms tho best way of opposing Nrarxian or any other doctrinaire socialism.
 (4) Self-government of in-
 dustry within government au-
 thority must be democratic.
 It is proposed that the founda- ton shall be the several hundred associations into which American business is or can be ultimately or ganized in a national way. At present there are about 5000 trade and industry associations-local, regional and national-but the code experience of the MIRA indi- cates that all business can be grouped into two or three num- dreds of associations.
 The next step is to put the indl- yiduaI associations into groups having certain common interests such as of raw materials, markets labor, distribution, etc. It may De ] possible to have as few as "A or l these associational groups. They i'll turn would elect one member each ] of a central industrial board. Code T ..aukhorlties" would be formed for these divisional groups along lines similar to the present single-trade code authorities.
 The government would be repre- sented by an administrator of the reconstructed MIRA or whatever other central governmental body might replace it, on the original trade association board or code au- thority, on the group board, and on the central industrial board. Thus the government would be in close contact with industry from the bottom up and 1t would not be possible for the central industrial board or whatever executive Dody might be at the top, to isolate the rank ana lie or the iHu iai WI " from the government. No small group of men could speak for ln- dustry to the government or for the government to industry. Moreover, the central board Is to be a rotative body made up from appointees of the divisional code authorities; and these, in turn, are similarly made up from appointees of the associations code authori- 5 ties.
 The governmental representative on all the code authorities, or whatever their designation may finally be, is to be without vote, but will have the power of veto, or at least of suspension of action pending an appeal to the next higher body or to the proper gov ernmental agency. It is also pro- posed that in case deadlock arises between the b-administrator and any association or code authority ' the national administrator will have full power to establish q de- cision.
 The men who are working out the major-eiements as well as the details of the fuslon of government and business are proceeding very warily in respect to the problem -