On November 15, the unions concluded an agreement with the employers’ associations, which has served as the basis of an important development, begun on that date and known as the “labour board” (Arbeitsgemeinschaft). The _Arbeitsgemeinschaft_ appeared several months before the end of the war, but assumed a rôle of prime importance in the new organization of economic Germany. The _Arbeitsgemeinschaft_ has been defined as “the combination of big associations of employers and of workers for the regulation of reciprocal relations between employers and workers and for the solution in common of all economic and social questions touching industry and labour.”[58] The essential principle of the _Arbeitsgemeinschaft_ is that of _parity_. In the agreement of November 15, the labour unions are recognized as the vocational representatives of the workers. The most complete liberty of organization is accorded them. The agreement specifies as its practical tasks the feeding of veterans, the distribution of raw material, and the regulation in common of labour disputes. For the settlement of pending questions there was organized a special committee composed one-half of employers and one-half of workers. Several days later, December 4, 1918, there was drawn up the “statutes of the _Arbeitsgemeinschaft_ of the employers and employés of Germany.” All German industries were divided into a certain number of groups, which had common organs composed half of employers and half of workers, each elected by their respective organizations. There was in addition a central council, which was the _Arbeitsgemeinschaft_ of all the employers and organized workers of all German industries. Its members were elected by the groups from their membership; and these in turn elected a Central Committee, which executed the decisions of the Central Council. All these organs--and this point must be emphasized--were composed half of employers and half of workers. The parity principle is at the basis of the whole organization of the _Arbeitsgemeinschaften_. Thus all economic and social questions concerning industry and labour were regulated by committees in which the employers’ associations and the labour unions were each represented by one-half in each committee. The _Arbeitsgemeinschaft_ is a treaty of peace.