The coöperation among industrial leaders for the mobilizing of the country’s material resources for war production which was at once instituted by the Council developed later into the War Industries Board, the story of whose work for the war is told in the chapter dealing with “War-Time Management of Trade and Industry.” The Council initiated also the work of stimulating production for aircraft needs, of speeding coal production, of interesting the people in food conservation and of drawing the railroads together into a national transportation policy. Its Committee on Labor drafted the War Risk Insurance Bill, initiated the undertaking and then turned it over to the Treasury Department. The policy of price fixing, which finally developed into a definite organization under the War Industries Board, had its beginning in the informal voluntary agreements entered into between members of the Council in the early days of its existence and representatives of industry. So also the priorities policy, which afterwards became a most important and efficient means of controlling trade and industry and bringing them into direct and effective war service, began with voluntary agreements between leaders of industry and commerce and the Council in the early days of the war. Its Commercial Economy Board, which afterwards became the Conservation Division of the War Industries Board, did a comprehensive and most essential service in the planning and instituting of economical policies for industry of nation-wide application that would release material and labor for war production uses. By the principle of voluntary coöperation which it inspired, initiated and organized into the war machinery of the Government the Council largely eliminated the possibility of profiteering in connection with war effort and so helped to make the conducting of the industrial phases of this war, enormously increased though they were in both magnitude and possibilities, incomparably more honest than it had been in any previous war in which the country had ever engaged.