The democratic principle on which this nation was founded should not be restricted to the political process but should be applied to the industrial operation as well.

Statement (c. 1797), cited in Profit Sharing Trends (Chicago: Council of Profit Sharing Industries, March–April 1959), pp. 3, 24–25: see Elizabeth Lanham, Administration of Wages and Salaries (New York: Harper & Row, 1963), p. 345, and Milton Derber, The American Idea of Industrial Democracy, 1865–1965 (Urbana: Illinois UP, 1970), introduction, p. 6