As a guide to the interpretation and application of this act the public policy of this state is declared to be as follows: The financial and economic stability of the state of Idaho and its citizens is threatened by the filing of, and threats to file, lawsuits to recover for nonproductive labor performed during the war, which is a serious menace to the health, morals, and welfare of the people of this state and is a sufficient basis for invoking the police power of the state; that it is contrary to the public policy of the state of Idaho for persons now to sue for attorneys’ fees, liquidated damages, and alleged overtime for nonproductive work performed during the war; that it is the policy of this state that when persons have once agreed to what constitutes compensable time spent in employment and employers have paid the same and employees have accepted payment on the basis of the agreement, that such agreement, payments and acceptance should be accepted as final; that the prospect of large sums being recovered as attorneys’ fees, liquidated damages, and unpaid overtime from employers who would then have claims against the state for income tax refunds, and the possible bankruptcy of many persons, firms and corporations, who, otherwise would pay to the state large sums as income and other excise taxes, threatens our social security payments, our educational expansion program, and endangers teachers salaries, workmen’s compensation benefits, unemployment compensation benefits, and all the activities of the state, and would create a serious condition of unemployment, all to the irreparable damage and injury to all of our people; that this situation is so serious that the power inherent in the state to protect itself through its police power should be and hereby is invoked to limit and define what has and shall constitute hours worked in all suits and actions for attorneys’ fees, liquidated damages, back wages, overtime pay, penalties and/or damages where wages and salaries have been paid and accepted.