We must also express here Our heartfelt appreciation of the work that is being done by the International Labor Organization—popularly known in various countries as the O.I.L. or I.L.O. Or O.I.T. For many years now it has been making an effective and valued contribution to the establishment in the world of an economics and social order marked by justice and humanity, an order which recognizes and safeguards the lawful rights of the workingman.
It is well-known that in recent years in the larger industrial concerns distinction has been growing between the ownership of productive goods and the responsibility of company managers. This has created considerable problems for public authorities, whose duty it is to see that the aims pursued by the leaders of the principal organizations—especially those which have an important part to play in the national economy—do not conflict in any way with the interests of the common good. Experience shows that these problems arise whether the capital which makes possible these vast undertakings belongs to private citizens or to public corporations.