Business & Finance: Alleghany Arbitration

Next to war the greatest source of economic waste in our national life is needless litigation.

Thus spoke Herbert Hoover when he was Secretary of Commerce. Today Mr. Hoover may have other notions as to what constitutes prime peacetime waste but he is still an honorary president of the American Arbitration Association, whose sole purpose is elimination of needless litigation. Mr. Hoover's AAA maintains a quasi-judicial system throughout the and where business disputes may be settled quickly, cheaply, secretly.

Arbitration is always voluntary. No one can force a businessman to take his squabbles to...

Want the full story?

Subscribe Now

Subscribe
Subscribe

Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on TIME.com

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!