uothing but general guidance for the exercise of managerial judgment. Proper accounting will indicate the price level needed to recover our actual costs of operation, but it will be the pressure of competition and our own managerial judgment that must determine the prices actually to be charged. Proper account­ing can report the funds available for reinvestment, but only management can determine when and how the investment should be made. Proper accounting can give useful tools with which to interpret our operations to our stockholders, our employees, and to the public. But it will take a method of communication that is far more humanized than the

balance sheei r.o win the public favor that we need.

In the last analysis, as is true in so many of today's industrial problems, public opinion is going to provide the final answer. The endorsement of the accounting profession, the tax collector, and the SEC will be essential, but their benediction will prove meaningless unless the public, too, approves.

If our motives are trusted, if our ob­jectives are approved, and if our sem?p of trusteeship is recognized, then WP will have the public support we need in this endeavor. But if we are suspect— if the opinion develops that this is <\ move to conceal rather than to clarify

our profits—then all the accountants in the civilized world will be unable to en­list the public opinion upon which our industrial future now depends. So a s we continue our search for a proper solution to this controversy about the nature of capital and of profits, our cue is to keep our public friendships in good repair through a frank, honest presentation—in human language—of the operating re­quirements of our businesses.

That is an obligation which extends to all of American business, which should be accepted by the chemical industry a s an entity, and which is a "must" for the management of every company repre­sented here today.

World Government, A Program for Peace ι CHARLES C. PRICE, Department of Chemistry, University of Notre Dame, Notre Dame, Ind.

WOULD like to suggest to all who may not already have done so, that they read Harold Urey's report as the ACS represen­tative on the U. S. National Commission to UNESCO (C&EN, May 2, page 1308). His remarks reflect on the confusion of pur­pose which marks all our international affairs today and, in addition, outlines a clear policy to resolve this confusion.

As American citizens, and especially as American scientists, we should be seriously concerned about a program for permanent peace and security so that the progress of science can be used for man's benefit rather than for his destruction. Clearly we could now have no domestic peace and security and "freedom" would have no significance if we had not, under the authority and power of enforceable law, renounced and rejected our right to murder and rob our fellowmen. Our con­cept of freedom and our personal peace and security have meaning only because we surrender a minimum of our individual sovereign rights to a common government which enacts and enforces laws to protect our peace and freedom, so that our dif­ferences may be settled in courts and en­forced by our police. For this purpose, we have local government to regulate local affairs, state government to regulate state affairs, and national jf overnment to regu­late national affairs.

In order to avoid the senseless slaughter of millions of human beings, the stupid destruction of our cities and our economy, the needless sacrifice of our political and economic principles of freedom which would be entailed in modern war, we must now be prepared, on a mutually reciprocal basis, to renounce our right to settle inter­national problems by force. This does not mean merely a negative program of dis­armament and appeasement. It can be achieved only by creating a world govern­ment with real authority and power to enact and enforce world laws regulating

international peace and security. Only then will it no longer be possible for a group of men anywhere in the world over whom we have no legal control, to decide our fate, whether we have war or peace.

In order to accomplish its prime pur­pose of preventing war, this world govern­ment must have a legislature with bal­anced representation to enact laws, an executive agency to administer and en­force these laws, and world courts to in­terpret them and to try and to sentence offenders. I t should be open to all nations without right of secession. All powers not expressly delegated to it would be reserved to the individual nations, leaving each nation i ts choice of domestic political, economic, social, and religious institutions. It must prohibit the possession by any nation of armaments beyond an approved level for internal policing and must have the necessary independent police power to enforce its laws throughout the world.

This great step in human history can not be achieved without the backing and un­derstanding of our people. I t can be ac­complished through a world constitutional convention, possibly through the pro­visions to amend the United Nations charter. At such a convention a detailed charter t o implement these basic principles would be drawn up by representatives of the nations of the world, as ours was by representatives of our states a t Phila­delphia in 1787. Such a convention has been scheduled for Geneva in 1950. The charter constructed there would then be submitted to the * individual nations for ratification. It is up to each of us to de­vote some time and effort to consideration,* understanding, and discussion of this peaceful solution to our present dilemma.

I would like to urge each of you to learn the basic concepts by reading "The Anat­omy of Peace" by Emery Reves. It is one of the most important books ever written and I feel sure it will have a profound

influence on human destiny. The concepts it so clearly, logically, and stirringly out­lines may mean the difference between, life and death for you and our children. It may mean for you, as it has for me, the difference between hope and despair for the future of our country, its political and economic principles, and our civilization itself. (I t is abstracted in Reader's Digest and is available from the United World Federalists, 7 East 12th St., New York, N". Y., for 40 cents a copy.) A more recent stirring exposition of the immediate neces­sity of action is Chester Bowies' article in the March 1949 issue of Harpers, entitled "World Government—Yes, But—."

Itotv to Help To help implement this program, to

have your voice count, to learn more of the progress being made toward this goal throughout the world, I hope you can join the UWF. This is an organization of dis­tinguished and loyal American citizens, in­cluding as active officials, Justice William O. Douglas, Governors Bowles (Conn.), Williams (Mich.), and Youngdahl (Minn.); prominent businessmen such as W. T. Holliday, president, Standard Oil Co. (Ohio), Edison Dick, vice president, A. B. Dick & Co.; labor leaders James B . Carey, secretary-treasurer, CIO, and Byrl A. Whitney, Brotherhood of Railway Train­men ; farm leaders such as James G. Patton president, National Farmers Union; and religious leaders of all faiths. It deserves your wholehearted support because we, the people of the United States, who have lived so successfully under a federal form, of government, should be leading the world toward this practical, moral, and peaceful solution to the present grave world situa­tion. It is necessary for us to take the kind of initiative displayed by George Washing­ton, Thomas Jefferson, and James Madison when they wrote the U. S. Constitution in 1787—and we do not have much time left!

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