Cyclopedia of Commerce, Accountancy, Business Administration, v. 02 (of 10)American School of Correspondence
General
Cyclopedia of Commerce, Accountancy, Business Administration, v. 02 (of 10)
American School of Correspondence
Accounting; Business; Commerce
of and faithful to the abilities and honor of the other, and each
acting his part in his own sphere of usefulness, that the immense
success of American manufacturing is due.
The factories of to─day are the logical results of a natural growth
and development of the various branches of business for which they
were originally built and organized. As the buildings increased in
numbers and dimensions, the methods of construction, the equipment, and
the systems by which they were managed, developed methods of greater
economy and efficiency.
=Tools of the Early Mechanic.= The early mechanic had few tools and
appliances wherewith to perform his work; and these were crude and
primitive, consisting principally of a limited number of hand─tools
brought from the Old Country, and occasionally a hand─lathe of modern
dimensions and operated by foot─power. But with their few tools and
meager facilities, and animated by the condition that "necessity is
the mother of invention," these old─time mechanics proceeded with
practical common sense and ingenuity to design and construct better
tools and machines──which have continually developed, until we have the
splendid array of manufacturing machinery seen on every hand to─day.
As machinery developed, larger and larger amounts of money had to be
expended; and the banker had to be called upon to provide it. Thus the
capitalist became the partner of the manufacturer, the one furnishing
the mechanical ability and inventive genius for the actual designing
and building of machinery and manufactured goods, while the other
contributed the money to carry on the work, and the business ability
necessary to market the product.
=Relations of Capital and Labor.= In brief, this is the condition
to─day. But, says the carping critic, "there are often hundreds
of struggling and hard─working employees where there is one rich
manufacturer." This may be partly true, although it is a fact
beyond dispute that the American mechanic is the best paid workman
in the world. It is true that there are hundreds of workmen to one
capitalist. Why? The Creator has so ordained that there shall be many
of moderate ability, and but few possessing the unusual ability and
talent to lead them. So it has ever been since the days of Moses, and
so it probably will ever continue to be. Doestick's regiment composed
entirely of colonels was a manifest absurdity, and so intended as an
illustration of a well─known and natural condition that should be
realized by every reasonable and thoughtful man who considers these
questions.
Public-domain text, read in full here on John Shaqi.
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