Newspaper Page Text
MEIN OF THE HOUR.
Know the achievements of the great men and women of all time ; learn the secrets of their success ; study the elements of character that have made
them famous ; master the laws of personal influence ; learn how to attain your loftiest ideals,?to avert failure,?to achieve success,?to lift yourself above the
level of the commonplace.
All these things are possible through Personal Magnetism, It is the priceless possession of every man ; it needs only to be developed. Personal
Magnetism is a science ; its laws are as fixed as the laws of mathematics ; they may be mastered and applied by all who seek to elevate themselves and
THE PHILOSOPHY OF PERSONAL INFLUENCE, a scientific treatise by X. LaMOTT SAGE, A. M., Ph. D., LL. D., tells you all
about this wonderful power and how to acquire it in a few days at your own home* It is free/it costs you nothing, a postal card sent to-day will bring it to
toy0"'v"yjto"~- ? a<u?ss NEW YORK INSTITUTE OF SCIENCE,
Department 319, W. _ -<^*^ROCHESTER, NEW YORK
A COMBINATION OF LABOR
IS A TRADES UNION.
Continued From Page 9.
The real benefits of "capitalistic
production," us compared with pro?
duction on a small scale, are two-fold.
The llrst and greatest bencllt of indus?
trial combinations goes to the whole
body of the community as consumers,
through reduction in prices. The next
benefit, and thut next most largely
distributed, goes, as I have shown, to
the workers through increase of wages,
and thus it happens that the working
man gains simultaneously In two ways.
He gets more money for his work and
more goods for his money.
Having reviewed the position nf our
great consolidated corporations as the
results of nn economic evolution, 1 feel
that something should be said with re?
gard to their capitalization. In gone ml
there has been much greater conserva?
tism in the capitalization of lndus-trials;
than there war, in the original capitali?
zation of railroads-. Our railroads were
built principally for the amount of the
bond issues, and the stock represent
the capitalized hopes of the projectors.
Tho Issues of Industrial bonds have
.been considerably below the actual
value of the tangible assets, and indus?
trial stock issues have generally boi u
based on actual earning capu ity. Still
It is undoubted that there has
more than one instance of marki I
over-capitalization of industrials, and
no proper legislative measure to r-m
edy this wrong or prevent its r< ( ur
rence should be neglected.
Fortunately, the evil caused by .
less investing and unwise capitalization
tends to correct itself by natural
Investors, naturally timid, confuted l.y
fthe"few Inflated industrials whl< h were !
put out simultaneously with n i
ones, are afraid to buy. and tie- an
izers, unable to sell their - ui ties,
now realize that sound capitalization ia
the best policy.
In organizing Industrial compttni
preferred stock, which is Intended for
all investment security, should noi bi
issued in excess of tangible assets .
cepi in special cases, where then i
very large earnings capacity protected
by valuable patents or trade-marks.
Verified earnings and regular d ?
will establish confidence, and tho i
of the shares In the well-organ,.:
well-managed industrials will ndvan ?
ns did tho stocks of railroad comi u
which were originally Issued f< .
"While I believe in great ?
tionB; while I know that they
necessity in order that this country
should become a gnat power In tin
economic world and thereby on
the prorperity of the wnge-carnei r,f
tho land. I do not believe in lur
gregntfons of wealth in tho hands <-r |
individuals unfitted to wisely admin
isier such great trusts. One of 111
favorable features of our Indu
.situation is that the men of greal con?
structive anility, are passing away, and
imu>nd of there being a lack ol
tunity. it will be difficult to find n
to assume the arduous responsl!
of industrial leadership who have ilu:
knowledge, the judgment, the nbil
and the integrity of Carnegie and
Huntington, of Rockefeller and i ;. id,
of Armour and Vanderbllt?tho think?
ers, the doers, the organizers?men
whose creations are the grcnt land?
marks in our industrial history.
i* Is fortunate that we have, had sii.-j,
leaders- .Thev dlQ their work with the
aggressive force that comes of natural!
energy and temperate living, and with
tlu- judgment that comes of experience.
They have understood and have been
in sympathy with the people because
they have been of the people, nnd the
example of those men. rising from the
ranks, gives impulse, encouragement
nnd high aspirations to every working
man In the land. They mad'- their for?
tunes by reducing the percentage of
profits und increasing the volume of
business; by reducing the rate on u
barrel of Hour to the Atlantic from |
$:i.r>o to Q5 cents; by reducing the price
of steel from $100 per ton to $20; by im?
proving the quality ami reducing Ihc
price of provisions and by-products,
while paying a higher price to the far?
mer for the animal; by reducing the
price of oil from :tu cents to 10 cents;
by' reducing the price of cotton cloth
from 'jo to .'? cents. They realized that,
in order to make their combinations a
gran,I success, they must Increase the
production by reducing prices to the
consumer. Thus they not only help- d
to develop a great Imme trade, but en?
abled US to mien the door of foreign I
markets, which has resulted In an I
enormous balance of trade in our fa?
vor, on which our prosperity so large?
The Industrials to-day are owned by
the many. While economic evolution
Is centralising production in large cor?
porations, decentrnlization of owner-j
ship goes on .simultaneously through
the rapid distribution of shares. There
are many hundred times more part?
ners in manufacture, mining and rail?
ways than there were thirty yearn ago,
and the number is rapidly Inert
Under the old condition of private
linns, the number of female Investors
averaged hut - per cent. Nov. In every
corporation Ihey have many sharcst. I
and as shareholders tl,?*v have the fuH
righi of suffrage. j
Untier the olil conditions of private!
ownership, the control of many ?>f our
industrial enterprises would have been
inherited by oho Individual or family.
I Now the control Is subject lo the same
j rule that prevails in the udmlnlstrn
! lion of our State, and that Is the rulu
[ of tin- majority, it i.i seldom (und for
! tunutely so, as preventing gn at nggre
| gntlons of welnth in the hands of indl
i'Vldutlls or fnmilies) that tlie heirs of
giants in Industry have the capai Ity to :
succeed t.i tie direction of gigantic en?
terprises. Many Inheritors of great
fortunes. Enervated h>' on so and luxury
i prefer a life of Indolence, or It) chase
I the will-o'the-wisps of society: others,
! prefer to do. ote their t line to lit era iure ;
i or art; filters to enter upon scientific
I pursuits. Under the old conditions
they would have Inherited the control
of industries, but tinder the present
Conditions of Industrial consolidations,
the majority of tlie stockholders for
generally speaking, the numerical ma?
jority Is also the majority in inn rest
elect as otflcers aspiring young inon
who, through years of application to :i
I particular industry, huVe proved their
ability and judgment to assume the re?
sponsibilities ?f leadership. Thus the
In life nothing Is stationary; contrac?
tion or expansion goes on continuously,
and if you don't expand you contract.
It is so with nations: Spain contracts;
the United States -expa'nds. So it is
with industry. There are periods of ex?
pansion when the mills are running
full, and there are periods, of contrnc*
tion when tire number of uhemploye i Is
large. Confidence Is at the foundation
of expanding business activity. . The
amount of business transacted on
credit-1s over two thousand times that
transacted in exchange for gold or sil?
ver. If there is confidence, the man
ufncturer employs many hands, the la?
borers purchase more, the retailer
sends more orders, the Jobber orders
more from the manufacturer, the man?
ufacturer tn still further Increase his
output, employs more hands, and every
man who wants work can find it. This
Lack of confidence causes contrac?
tion?the manufacturer is afraid to
make many goods; discharges some of
his laborers; they purchase lessj tho
Jobber cancels Iiis orders; the manu?
facturer must still further reduce his
pay roil. The result is "hard times."
During Hie past few months of po?
litical agitation, sufficient uncertainty
lias existed to reduce business ai tlv
Ity, In spite of the country being in a
most favorable condition for trade.
Nothing better proves how sensitive
confidence is than this holding up of
business because of the remote possi?
bility of legislation which rimy conflict
with natural laws. In 1890 the fail
that a national party advocated the
undermining of our financial, legal and
industrial systems created sufficient
uie.ii-iu--H-t ?? ' I'u.'t* our bank > 1 .n nig-;
to decline 12 per cent, in c?iripnrlsori
with th.^responding months of the
previous year. It caused our Interest
rates to hdvunco lo 2? per cent, per
annum, and threw out of work a whole
army of men and women. You are all
familiar with the change whli Ii took
place, in IS97, when conditions became
ussurcd how renewed confidence set
the wheels of prosperity in motion?a ,
result which every one familiar with
Industrial conditions then predicted,
just as wo now know what will take
place as soon as. confidence Is again re?
ii t! ? mere possibility of unwise and
immature financial and-industrial leg
Lion caused such n panic as that of
l; what n terrible cataclysm- would |
l-e oci asiohed if. instead of the pbssl- i
blilly, we were confronted with i\v tic
tuniity, Tho difference would be ihut
it i ? p. (he storm und the cyclone.
On the other hand* ronlove all one:-;- i
lions a: to the sanity ami conserva?
tism in our laws, as to the stability rji
our currency, as1 to the continuity of
our Industrial development in nccord
hriCe with natural laws, and wo will
hive a condition of prosperity such ns
no conniry In the .world has pver
known. When wo entered upon a pe?
riod of prosperity in IS97 it was after
conviiic ing from a period ot severe
c?ni nb i ion.
Nie.. ... arc producing gold at the
rate of one and a half millions a We<*k;
and have a balance of trade in pur
favor of over toji millions a week.
Oui exports of manufactured good ,
have ? 40 per cent, more during the
pnsl l\\o yens than during the pre?
vlous two \..:ns. and tho balance of
trade i". manufactures has amounted
to iii.ii. dating tho past four yfcnrti
than during the previous existence of
Owing to Hie mistrust in 1896, \v<
were lifted to appeal to 10urope for
rimincinl alp We'wcre otulgcd to bor?
row m.ii. y at high rates of interest.
During (he past four years, owing to
our undisturbed industrial develop
im nt, we have exported the products
from feral a ml- fa ej ory to stich tin ex?
tent that the balance Of trade In our
favor his a mounted f.o two billions of
dollars, which makes us a great factor
in foreign commcr,:?? and u world power
in finance, England, Russia, CJermnxiy
and Sweden leave come to us for
money, end the credit of the United
sta'e.i Qovcrrimenl Is higher tQ-du>
than that of any other nation. When
.all doubt is forever reinovod as to the
pel i etulty of our go!<i standard, and no
doubt possible as to the milliner of se- j
lectlng u Supreme Court, to" which we I
must |ooh for the enforcement of our
national obligations as written in terms
of gold, the American Kugle will in?
evitably become the unit of Inter?
national exchange In place of the Eng?
In view <?( the fact that the main?
tenance ol high Wiiges in the United
States is largely dependent upon our:
increasing exports, the question la nsk
ed whether we could sustain them in!
competition with thb cheap labor of
Chtnh, were China to become d manu?
facturing country. The best tinswer
Is i hat lasi year, among out other ex-|
ports, wo Shipped two hundred million
yard,!**!" cotton cloth to the Chinese.
Tin- average rat.- of wages paid by us;
in its manufacture was seven times the
average rate of wages prevailing In I
Tin- Chinese, like the proplo In our'
own country win. have a Chinese east
of mind, do not recognise the advan?
tages <u' combination. Industrially
they are living in the land of yester?
day, instead <?.' hi America; the land '
of to-day ant to-morrow. Notwith?
standing?her great agricultural und!
mineral wealth, not withstanding the
fact that she has Ihc largest body of j
clieap Inhor in ti>.- world* t'hina is not
an ? Uli I nt i .-in; ; i'r.r !actor in the Held
if production because, In .spite of all
tie-e facilities she has none of the
antecedents, intellectual^ political,
ilhant iai or mei hanical for large scale
production under modern conditions,
inc.- she i 01.i none of the Instru?
ments of con,': : i greatness und so?
cial wcll-beiritr. Twenty centuries of
stationary pi y i nd ?>t looking back
v ards have me i olltlonl progress am!
economic de i nt Impossible for
ciii m. She h:i remained in industrial
Infancy. Laol lug orgnhisatlpri and all!
that goes with inizntloh, production!
"ii a large scale aided by large aggre?
gations of coplti ! i nd under conditions
Which attract an I ennoble the greatest .
ilities, lu i i< iiltural and mineral ]
wealth and In ? heap labor cannot
si ..h r. She left utterly behind In
the < conom.c .nd her vast terr -
toties are no ateried with partl
lioh among the Kuropeah Powers.
(? I!- pom rai ts would practlcaiij
hnvc us put ;?. w ill around the United ?
States which would reduce wages and
prevent Ihc v ot ? "tit of our destiny
its a world t- ? r in commerce. In
Hnnnce und Ii the greater and nobler
fiejd of doliua ? : art in the odvanci ?
litont nil I elvi ,-. i. Yi of mankind.
Sttuat. 1 ?: are, between the great
oceans, combining the strength of a
I gt'oat land? p< ? with that of a gr<
sen power. pushlrig our way
across the i i ?s \vo have nirea ly
dene across tin Atlantic. Rut this in?
crease Is compared with the in?
crease thai is destined to take place
when no question is being raised as to
the stability ol in foundation on;which
rests thi'? nretit Industrial prosperity.
w ith our untold natural resources,
with our Inexl mi itiiiie supply of metals
and coal, with om great forests, witn
every variety of oil and climate. With
the most Industrious, most intelligent
and mosi contend I of peoples working
ui the i ? . ondltions of modern
n thods. wo nre destined to become the
economic masters of the world.
Betorn Yott Trnvol.
North or West, call upon the under?
signed for lowest rates to all points
via Baltimore and itiiio railroad (Royal
Blue Line). Bay Line. Washington :
ste.imeis and Chesapeake Line; finest,
fastest and safes) trains In the world.
a l: rHUR f.. LEWIS,
s. P. A. Baltimore & Ohio lt. R.
(Under Atlantic Hotel.)
(BY ARTHUR G. LEWIS.)
Perhaps it is the woman in man's na- Those who have not (oil the soft
(uro that enables him to have so much while arms of temptation around their
faith in her. neck, should never prate of virtue or
? heroic contlngencc.
Mother love, the highest type of ?
affection, stands .at the holm of civilt- Honest labor Ift creative of both revo?
cation, purity and hope, nuo und rest, and idleness is the par
? cnt of poverty.
There is no heart so cold, no nature ?
so hard but what has at some time Faith in ourselves secures not only
boon softened by the simplicity and self respect, but inspires the con 11
gentleness of child-life. donee of others toward us.
Self-conceit is an absurd misfortune, Nothing tests friendship so much as
bot lack of confidence in our own to place it under obligation;
efforts or ability is a worse condition. ?
? if it wore not fo:- the knowledge of
What might have been, never hurts our own faults wt'-wotild he unable'to :
so much as when brought fueo to face sufficiently appreciate the virtues of I
with what may never be again. Others.
. Good birth is the foundation of re- An ounce of unsolicited kindness
. n< ment, upon which environment and weighs more than a pound of requested
circumstances build gentility; favors.
Women who hold men absolutely in our faith often clings closer to what
their power regard their conquests as we hope for than to what we believe,
much as a cat does a captured mouse. ?
? The hand of one friend in time of
The most gentle i>f all surgeons mo need is valued htoro than a multitude
those who have been wounded them- ol congratulations in the hour of
si Ives. triumph.
Remorse creati s more grief than for- Ht.ip human nature of Its vanity, an I
get fulness or resignation eures. it is devestcd of half Us fntills.
enn have n practical treatise on motherhood, telling oa^
about "MOTHER'S FRIEND" (thatSfe
will save months of pain and trouble), sent, free,
by sending name ana address of self or frier.,!* u? J??
TJIK n RAD FI ELD nECllfcATOB CO.. Atlanta, Ga, t <\'
The world can produce nothing like ' Mother's Friend.' " ^?
Sol.1 by best Dnifgim. 81 .OO, or sent t,y express pM.t on receipt otpri.e.
Hut the main question with us Is to continue to offer the best Quality and
latest Rtyics of goods at the most reasonable prices. Every day bring.- something
new for this progressive age Many styles of goods get old in a very few months
and by the progressive merchant discarded to allow new productions. Wo are
In recclpl of heavy invoices of Sterling Silver Ware, Spoons. Porks, Tea S.-ts.
Ladle Sets, &c;, &c. Carving, Sets. Fear 1 and Silver Handle Dinner; Tea and
Fruit Knives and a varieu ..f other new and desirable goods In our line. .Our
endeavors to please In every particular COntlUCi successful, as evidenced by a
continued Increase in patronage.
C. F. GREENWOOD & BRO., 318/Main Street
II RELIABLE SUCE STORE.
174 Church Sr., Near Main.
Iirlncr your fool to us to tit. Wb have
.1 now ami complete stock of nobby, up
to-date Poo t wear, at lowest possible
prlci ii win pay you to see our .stock
and prices before buying.'
\W L DOUGUS
Something In the Pipe
wbliii should not bo there. Something
wrong with Hi.- PLUMBING perhaps,
which will require repairing by the skilled
plumber, Those who favor us with their
orders will have no reason to regret their
choice. We do all work promptly and
well, and at minimum prices,
Kelly. TQoriiion k Williams.
Northwest coiner Bank and WushiiiKtoo
Now rinino 1H0. Old Phono S30.
jao-eod-ly _ _
DRY SLAB POD
Dry and Green Oak Wood.
Dry Pine Wood.
COAL OF ALL KINDS.
CHAS. E. SCOTT & CO.,
SCO LOV1TT AVENUE.
Old Phon?. 3*1. New Phaa?, UA