If the World War [I] demonstrated anything it was that government ownership is fraught with the gravest dangers and usually leads to disaster. Take Britain. The two problems which have caused the greatest trouble since the war ended have been transportation and coal. The government seized both industries when the war broke out. It got them into such a hopeless mess that it does not know how to turn [In] coal; the government now realizes, it took hold of the tail of a wild animal and is afraid to let go.
Accuse American businessmen of being responsible for radicalism and they would indignantly deny the accusation. Yet, in one fundamental sense, they are responsible. They are responsible in the sense that they have utterly neglected to take part in the work and the organization which precede the choosing of candidates for political office. Local political organizations all over the land are conducted and controlled, as a rule, by politicians.... Businessmen have shirked such responsibilities, leaving an untrammeled field to others less capable of carrying on the administration of government.
Ugliness, squalor are breeding grounds for revolution. Beauty is conducive to tranquillity, happiness. Beautifying of homes and places of worship began with the dawn of civilization. Beautifying of workplaces is only in its infancy. Yet, since men normally spend more than half of their waking hours at work, surely it is important that adequate attention be devoted to elevating their working environment, whether office or factory, foundry or machine shop, mine or warehouse. Beautiful surroundings subtly encourage beautiful living. Drab surroundings, bad air, bad light, evoke bad reactions.
Here's a pointer culled from the careers of men who have attained notable success: Don't sit in your office during the hours prospects can be seen. Do your office work before or after the hours during which possible customers can be reached. This may mean adding an hour or two quite often to your day's work; but in times like this particularly, the securing of a satisfactory amount of business through the expenditure of an extra hour or two a day is not an unreasonable price to pay.
How many men I know who are earning dollars aplenty, but who are really earning little of what counts. They are so overwhelmingly engrossed in business that they get nothing from their dollars. The Juggernaut of dollar-making has crushed out of them every capacity for genuine enjoyment, every grace, every unselfish sentiment and instinct.
Justice must be blind to the hardness or softness of a man's hands, as well as to the leanness or fatness of his pocketbook
Golf is an ideal diversion, but a ruinous disease.
The bell of public opinion is today making the Morgan-Rockefeller-Vanderbilt class jump. Nor are the strongest of our corporations immune. The railroads have had to jump pretty lively, and certain gigantic industrial combinations are also being put through their paces.
Which is more worthwhile earning: a large fortune or the esteem and gratitude of the nation? This question is prompted anew by the death of ex-Secretary of the Interior [Franklin K.] Lane. He remained in public service, doing most noble work, until his means became absolutely exhausted, and he died before having had the opportunity to reaccumulate any bank account.... He died leaving no estate whatsoever. Is what he did leave more to be desired, more to be coveted, than a fortune reaching into six or seven figures?
J.P. Morgan, then past 70, was asked by the son of an eminent father why he [Morgan] didn't retire. When did your father retire? asked Mr. Morgan, without looking up from his desk. In 1902. When did he die? Oh, at the end of 1904. Huh! snapped Mr. Morgan, If he had kept on working he would have been alive still. Work is God's best medicine. It is God's medicine for man.
...the incontestable truth is that America has been built up by optimists, not by pessimists, but by men possessing courage, confidence in the nation's destiny, by men willing to adventure, to shoulder risks terrifying to the timid.
Now, ideas are the raw material of progress. Everything first takes shape in the form of an idea. But an idea itself is worth nothing. An idea, like a machine, must have power applied to it before it can accomplish anything. The men who have won fame and fortune through having an idea are those who devoted every ounce of their strength and every dollar they could muster to putting it into operation. Ford had a big idea, but he had to sweat and suffer and sacrifice to make it work.
Has your work become very easy? Do you find you can do it with little effort? Has it ceased to impose any strain or fatigue upon you? Do you no longer feel loss of vitality after a long spell of it? Can you now do it as easy as water rolls off a duck's back? If so, look out! Do some stock-taking. Examine your output.... Work done with little effort is likely to yield little result. Every job can be done excellently or indifferently. Excellence necessitates effort-hard, sustained, concentrated effort.
Backboneless employees are too ready to attribute the success of others to luck. Luck is usually the fruit of intelligent application. The man who is intent on making the most of his opportunities is too busy to bother about luck.
Managing the other fellow's business is a fascinating game. Trade unionists all over the country have pronounced ideas for the reform of Wall Street banks; and Wall Street bankers are not far behind in giving plans for the tremendous improvement of trade union policies. Wholesalers have schemes for improving the retailer; the retailer knows just what is wrong in the conduct of wholesale business-and we might go through a long list.... Yet for some reason the classes that ought to be helped keep on stubbornly clinging to their own method of running their affairs.
The more I move among workers and factories and other plants, the stronger I become convinced that it is advisable to have as [a company] president a practical man, preferably one who has risen from the very bottom of the ladder. Workmen, I find, have far more respect for such men than for collar-and-cuff executives knowing little or nothing about the different kinds of work which have to be done by the workers. Wherever circumstances call for placing a financier or lawyer or a papa's son at the head of a large organization, he should be made chairman or some other title, but not president.
Do too many executives still indulge in the short-sighted habit of issuing orders without taking the slightest pains to explain to those responsible for carrying them out the whyfor and wherefor of the orders? Where employees come in daily and hourly contact with the public, surely it is important that care be taken to fit them to reply intelligently to courteous questions. ""Because them are orders"" isn't a satisfying reply-even less satisfactory to the management than to the public.
After visiting several of America's most fashionable playgrounds, I have reached the conclusion that men who work hard enjoy life most. The men at such places can be divided into two classes, first, busy men of affairs ... and, second, rich loafers. I was impressed by the obvious enjoyment corporation heads and other important executives were deriving from their vacation activities.... The idle rich fellows, on the other hand, although indulging in exactly the same activities, palpably were bored.
The things that are most worthwhile in life are really those within the reach of almost every normal human being who cares to seek them out.
Many concerns now make part or the whole of their dividends from by-products that formerly went to waste. How do we, as individuals, utilize our principal by-product? Our principal by-product is, of course, our leisure time. Many years of observation forces the conclusion that a man's success or failure in life is determined as much by how he acts during his leisure as by how he acts during his work hours. Tell me how a young man spends his evenings and I will tell you how he is likely to spend the latter part of his life.
It is easier to start taxes than to stop them. A tax an inch long can easily become a yard long. That has been the history of the income tax. Would not the sales tax be likely to have a similar history [in the U.S.]? ... Canadian newspapers report that an increase in the sales tax threatens to drive the Mackenzie King administration out of office. Canada began with a sales tax of 2%.... Starting this month the tax is 6%. The burden, in other words, has already been increased 200% ... What the U.S. needs is not new taxes, is not more taxes, but fewer and lower taxes.
I don't feel myself that I Know it all, but I have enough conceit to be successful. That observation was made by a businessman in his 30s who was making notable headway, although his path bristled with difficulties. Business places no premiums on shrinking violets. Employers prefer men who have self-assurance, forcefulness, go-aheadness, men who know their jobs and know that they know it.
Vacations for wage earners have proved both popular with workers and profitable for employers. Unfortunately, the majority of large employers have not yet followed the example set by a number of progressive corporations. I don't know of a single company that has abandoned vacations for wage earners after having tried the experiment. But I do know many that are delighted with the fruits they have gathered. Under some of the plans vacations with pay must be earned by good behavior, punctuality, etc.... The best results have come where the treatment has been regarded as most liberal.
Inflationary trends are under way. Wage increases, through strikes or threatened strikes, are rampant. Government expenditures are ballooning ominously. Hoarding has contributed unconscionably to price-boosting. The Government should institute measures calculated to arrest inflation. America's commitments are already so mountainous, international and domestic, that the pruning knife should be applied. You and I, all American taxpayers, don't possess limitless resources-our pockets are not bottomless. Curb inflation at every turn!
America, in the eyes of the world, typifies above all else this quality of initiative. The greatest successes are nearly all the fruit of initiative. Why do we hold in such high esteem the achievements of the Wright brothers? Because they were illustrious examples of initiative and tenacity. And ideas are born of initiative, the children of men and women of initiative. Advancement is applied initiative. Don't imitate. Initiate.
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