T HE American workers seek industrial liberty and not industrial license. The present industrial system is destined to remain, for a long time at least, in its main outlines. Private ownership of capital, freedom of choice and freedom of action-these doctrines of contractualism are not likely to be swept aside or supplemented by collectivism or governmental organization and operation of industries. Despite the alluring promises held forth by its advocates and special pleaders, socialism will not be accepted as an improvement on our present industrial system. Instead, it is believed to spell bureaucracy, political tyranny and to render helpless the individual as a factor in ordering his own life, and to develop social inefficiency and industrial decadence.