Statement by the President: List of Principles and Guarantees Needed for Good Labor Relations.

FROM THE inherent rights of man, recognized in the founding documents of this Nation, certain principles reach out to pervade all segments of American life.

Rooted in a profound awareness of the dignity and worth of the individual, and in the certain knowledge that the ultimate values of mankind are spiritual, these principles have at their center our cherished concepts of liberty and equality of opportunity.

Prom these fundamental principles derive certain other principles of specific application to those we honor today--the millions of men and women employed in America's thousands of occupations. These principles are:

That the common economic interest of employer and employee is prosperity.

That labor relations are best managed by honest and fair negotiations between employers and employees or their representatives, without Government interference except when the general welfare so requires.

That members of employer and employee organizations have the right to demand from their leaders and administrators complete honesty, integrity, trustworthiness and loyalty.

Experience demonstrates, however, that if these principles are to be universally realized, certain guarantees are desirable and necessary. These guarantees are:

1. That funds contributed by workers to the treasuries of their organizations be used solely to advance the welfare of all the members.

2. That organizations of working men and women be administered according to the free will of their members.

3. That working people be fully protected against any dealings between labor and management representatives that prevent the exercise of workers' rights to organize and bargain collectively.

4. That the public be protected against unfair labor and management practices that make a mockery of the collective bargaining relationship, endanger innocent third parties, and give rise to lawlessness and harmful abuses of power.

Upon these principles and these guarantees rests the peace and harmony that strengthens our nation and binds our people in unity.