Importance of corporations in modern life; assets of 200 largest corporations are 70% of all corporate wealth; mistake to raise prejudice against corporations, directors are gentlemen, but haven't had enough knowledge about relation of their business to general welfare; what corporations do when consumer purchasing power fails (contrast to agriculture); farmers, laboring men and small businessmen afraid of repetition; how corporate "over-saving" helped to make Depression inevitable; evidence of instability: pig iron production; responsibility of corporations because of effect on production and prices; ordinary abuses will be dealt with by Securities and Exchange Commission but more is needed; 3 point objective: increased production, stable employment and good wages, intelligent price and wage policies; objective: price and wage policies to increase both production and consumption; parallel to old-time situation of small banks and central bank, central clearing house needed; heavy industries especially important; labor and agriculture also tend to act in such a way as to promote general "ill-fare"; over-emphasis on prices alone; can be essential unity in interests of all three groups; misunderstandings temporary, but are unimportant compared with growing appreciation of cooperation.