3. Transfers of capital, or loans negotiated between various industrial groups, and covering more than one division. These loans would take the form of adverse balances in the general clearing between producing groups, and would cover the advances for improvements and betterments, that one producing group would make to another, or that the world producers' federation would make to one of the producing groups. The exchange and credit board would, in reality, be the book-keeping department for the world producers' federation, whose exchange transactions would be planned and handled through this department. 8. _The Budget Board_ Two principal functions would be performed by the budget board. On the one hand it would be charged with budgeting or planning the transactions involved in the world organization of economic life. This function would include the estimates of the requirements of the major economic groups during a given year, and the estimate of the sources from which these requirements were to be met. On the other hand, it would be responsible for preparing the budget of the world producers' federation, and of deciding upon the course that must be adopted in order to meet these necessary outlays. Thus the board would correspond, in a sense, to the finance committee of a modern parliament or to the department of finance in a modern cabinet. 9. _The Adjudication of Disputes Board_ The organization of the world producers' federation places before it certain judicial functions. The federation would be called upon to adjudicate: 1. Disputes between any of the industrial groups involving more than one division. 2. Disputes between one of these industrial groups and the world producers' federation. 3. Disputes between various departments of the world producers' federation and its subdivisions. These functions would devolve upon the adjudication of disputes board, which would constitute a court or committee of review, charged with the duty of hearing issues in dispute before they went to the board of managers, the executive committee and the world parliament for final decision. The adjudication of disputes board would not be, in any sense, a court of last resort. Rather it would be a court of original jurisdiction, sifting out the issues as they arose, and presenting its findings to a higher body. Most of its decisions would, as a matter of routine, be final, but on any issue of importance, the right of final decision would rest in the world parliament, unless that right were assumed by the people through a dissolution of the parliament.