Industry had little original capital invested in it—present investment largely made up of profits—difficulties in getting capital—dealers put up money to finance distribution—production not reached its height—commercial cars and tractors promise great opportunities—industry a surprise to economists—large as it is, industry still in comparative infancy. CHAPTER V. Benefits Conferred by the Automobile 155 A medium of exchange of knowledge and ideas by bringing people together—uproots bigotry and removes prejudice—revolutionizes thought and habits, and liberalizes mind—emancipates woman from drudgery of domesticity—increases social amenities—a health giver; saves human life; aid in eugenics—stimulates better roads—saving in war. CHAPTER VI. Reports on Automobiles, Automobile Accessories and Tire Manufacturers Securities from a Financial and Investment Stand-point 171 Economic history, and its relation to stock trading in the automobile industry—securities traded in on New York stock exchange and curb—securities on exchanges in other cities, and data for 1916—principal securities not generally traded in—prices and terms—newer entrants—security issues of tire companies—comparison of automobile with other securities—present and possible future trend—graphic charts and comparative tables. CHAPTER VII. Passenger Automobiles Manufactured in the United States 219 Range of prices in effect April 1, 1917. CHAPTER VIII. Gasoline Trucks and Delivery Cars Manufactured in the United States 231 Range of prices and other data prior to April 1, 1917.—Courtesy of Everybody’s Magazine. INTRODUCTION. “What did Benjamin Franklin have to do with the automobile?” a great many readers of this book will ask. Benjamin Franklin was many-sided, and he had a great deal to do with much that affects the birth of the American nation; and if it had not been for what he and other patriots, statesmen and diplomats did, the automobile business might have been in this country today exactly what it is in England today—and that is a very insignificant industry. Among other things Franklin was a signer of the Declaration of Independence, and it was the American Revolution that made the automobile industry of today possible; for, had there been no revolution, we would probably still be a dominion of Britain beyond the seas, and it is pretty certain that England would have had in force in the colonies the laws she kept on her statute books until 1896, practically prohibiting, by the imposition of excessive road tolls, the use of the public highways to horseless carriages.