Ogden Standard-Examiner | 1926-07-13 | Page 1 | Ford Says Professional Financier and Reformer Are Business Menaces

Ford Says Professional Financier and Reformer Re Are Business Menaces Discussing g Big Business and the Money Power He Declares No Money Trust Today Controls American Worker or The Creator Creator The Men Who Serve Society With Handor Hand or Brain in Productive Vay Way WayBy By HENRY FORD In Collaboration with Samuel Crowther Copyright 1926 by Doubleday Page 8 Co All Rights Reserved that BUSINESS B that that is the whole material si side sie e of o life life-c life threatened by two classes of people who think they arc are in opposition but wh who actually have haye a common the cause cause the pro pro- professional professional f financier and the professional reformer Both co go o about out the destruction of ot business That Is what they have havo In common Their ways way ays are not alike But given elven a a free hand either can can destroy business ve quickly Thero There Is Li nothing to be b said against tho the the financier financier th man who really understands tho the man man- management management man of money and its place In life liCe There Thero Is nothing to bo be said against the th reformer who knows what he Is about and knows the tho effect of o the tho th chan changes es eshe he desires and who li is willing to gl give the people to ba bG reformed a chance THEBES THEBE'S A J DIFFERENCE But It Is very different with the professional proCessional financier who finan fInan- fInances finances ces for Cor the th sake sako of financing and ana what he h can get ret out of It In money without a thU thought ht of the welfare of ot the th people The pro pro- professional pro professional reformer likewise re- re re reforms forms Corms for the sake take ot of reforming and nd for tor his own satisfaction and without a I thought of ot the real welfare ot of the people These two utterly unthinking classes aro are real menaces The professional financiers wrecked Germany The professional reo cc- re reformers formers s wrecked RussIa Hussla You can take your choice as to who made madeth the better job of ot it It These two classes working either directly or through politicians ans are arc in control of ot Europe and ana andare andare are responsible for tor Its poverty The League of oC o Nations and all Its adjuncts such uch as the World Court are lire In their control and ana under no system which they de- de devise de devise vise Ise do tho the people have chance Especially are ar they they opposed to any theory of o Industry which l makes for tor the th general welfare The people abroad are content to take tak sops In the form torm of ot reso resolutions and treaties but present present- presently presently ly people everywhere will 11 learn to disregard the teachings of ot both professional proCessional financiers and pro pro- professional pro professional reformers just as we have learned leuned to disregard them here In the United States tates tates They They- will go eo forward qa on prin prin- principles prin- prin principles principles of oC o real economy and will learn that there Is no connection between real business and the money power and that attacking business In order to reach the money power is merely playing Into the hands of the th financiers The Th notion that money is ta the life blood uC of u business and that It if you control money you can control business has ha just enough foundation to make It teem seeni em real because we wo have hav to express In dollars what are not dollars dollar at atall atall atall all Take tire the Ford Industries For accounting and tax purposes they have to be valued In dollars ac- ac according according ac according cording to recognized modes of oC procedure Thus Thua Thu tho ho I Ford ord Indus Indus- Industries Industries IndusI Indus tries are aro supposed to be bo worth Continued l on OC lago rio THO 1 0 FORD SAYS PROFESSIONAL FINANCIER AND REFORMER ARE BUSINESS MENACES C Continued from rge One ODe On som some lome lure larr aum aumi Mid and nd tho fig ures aro ate printed Kin inO out ot of otten ofton otten ton ten men think that wo w o hl h v that thaC th number ot of dollar on the premise Wo Wa W have nothing ot of the th kind We W have our cur furnaces lathes drill prUle coil mine mim Iron mine minca and nd 10 0 o on We W have h v the th to auto auto- automobile automobiles uto mobiles mobile and tractor and raw material to work with A 11 Aa a going concern the th worth ot of o all this equipment depend depends upon th the kill ot of o the manAgement mana Who CAn say ay what hd a a chert chut of ot toole tool It 11 worth to a carpenter on a job DEST OlID DY nr TAXES T On a tax tox however all Lis ll mechanical capacity Is II I put putdown putdown putdown down as ae a dollar dollare and nd on thAt basis a certain number of ot dol dots lau lar aro ro demanded of ot it It than one on h has hai been des troyed Sti-troyed troyed by taxes levied under tho Im Impression that lt Its Ita assell w were wre r In That Th t la is I only one OM ot of o the tho col- col collateral col collateral lateral effect ot of thinking of othine things as AI a dollars dollar Instead Of ot AI a things thine We W must mut learn to drive through all our out thinking the pro prod profound found distinction between and nd business Thu This I Is the countr of big bl But u as y Jy Iy hown bit bill controlS 1 It Is it entirely At the tho mercy ot or demand Is ii hO how tow few sum seem able abl to distinguish bH between een Industry And finance In the th violent period of ot tho union labor movement the tho th em- em employer m was wa always alway referred to as AI the th The whole trouble Was waa that the th employer was nota nota not a capitalist but was w under the thumb of ot co capitalists capitalist In years most were con con- conducted con conducted ducted on borrowed capItal which guo th the capitalist a su super up u- u control of ot the th Industry The man man- manufacturer undine standing between n hOI hoe hos tile labor and rapacious capital had a a hard time timo getting anything don anything done Pressed from above for In- In terest and dividend dividends tron below to grant Brant more moro more for tor leas 1184 work he bad hod email Iman chance chanc to give All the th tim time timi he h had to bear the th abuse abu that wa u as be- be beIng beIng be Ing heaped upon the th capitalist But ft R change chine hM has ha come corn Business does not minimize tho the len serico Ico which the th world of ot finance con can render but It has ha declared itself tree free from domination by that world When Vh n finance exists to servo serve erve industry which Is I Its lt proper propel function then finance la Is recognised as t pat of o the th service In- In Instrument Instrument In strument of humanity No money trust tru t today controls the tho American Am worker or the the creator the men nen who ho with hand or brain serve society In a prod productive way ay This Is I not to say ay that money and are ar not necessary In la busl- busl flees nese must mut bo be run at a profit this this will be b taken up In a subsequent chapter else ell It will Viti die I But when anyone any one on attempt to runa run a business 1011 for tor profit and thinks not at all ot of th service to the community then also the th buM busl tiu flees nesa must die for tor It no longer has hasa ha a reason for existence Th The profit motive moUn although It II I supposed to be b headed herd and practical Is really not practical at atall atall aIL all because a as has been explained It has u as a Its It objectives the th Int In Ing of prices to the th consumer and the tho decreasing ot or wages and thoro- thoro th for re-for tore It constantly narrows Its ltd mar mor markets markets and eventually strangles That account accounts for tor much or of o th the dif difficulty dlf- dlf tl abroad Ther I li is largely eon con controlled trolled t ty y professional financiers and the men In actual charge or operations have O hav little Indeed to say BaY about management mAnag ment The worker I is not expected to 10 be b able abl to 10 bu buy what he be h makes and he ho II Is further tooled fooled by the reformers who tell lell him that hi his way out I Is through higher wages wace and shorter hours houri He wants ants exactly what th the lonai financier w thAt wants want that Is li something for tor and nothing and thue without knowing It the tho th financiers finAncIer and reformers combine to 10 destro as III an Instrument of sere set ser service vice That la Is I why we w e hear so 80 much talk In foreIgn countries of ot the th ne no necessity for export trade Th The Tho hOme homp market Is not built up through h th the payment nt of at o high wages w ca for tor well well well- managed work which will result In price to th the consumer The worker I Is ft a cOnsumer of only JI a n few tew cr meager lI necessities of ot life lit This hl need not be bo so 10 We W have demonstrated through h our own In In In nearly every part of ot the world that It need n ed d not ho be b So-ato So so n will III bel be b later latr brought out The Th reason wh why EurOpe thinks that It cannot connot manage without ex ox export port la is I that the th professIonal to- to re reformers formers comIng from rom below and anI the professional financiers coming from above have squeezed the buying power out of the people and the th Industries are ar forced to loik abroad for tor markets hay markets In exploited their own people they seek to exploit other nations There Therl could eull easily be b a healthy trading bet between een nations There need ned be no vicious the competition th kind or of competition that brings brines on war It If the home horn market is II I built up and everywhere in In the tho world orld this can be done then th the export trade will willbo bo be the tIle natural and healthy ox- ox exchange ex change of ot commodities which one onu one country country can spare spar and another needs Tho The present competition In Inthe IntIle tIle the world markets markel Is due du due largely to the exploitation of ot the people at home It becomes plain therefore that thatto thatto to confuse business with the tho money power is Ie I to make one on tiling thing of two and to unite elements which naturally oppose each otherA other A business cannot servo sen both th public and the tho money power As Asa Asa a matter motter of fact tact power ha has always lived more moro by exploit exploit- exploitIng exploiting ing log or wrecking business than Ihan by service of business There Are ar signs I nii however r that this thu may be beon beon bon on the th mend Money Mon y put Into Int business as U a alien lien on It Its assets I Is dead money When Industry operates wholly by bythe bythe byth the permission of ot dead money mon yIt Its main purpose becomes b comes the tho th pro production of payments payment for the own own- owner era er of ot that money monty The Th service of the tho ha has lias to bo be b secondary It If quality of goOds tood l theSe payments then the tho th quality Is cut down It if full tull servIce cuts cuU Into tho Ih payments then service Is cut down This kind of ot money does not ner c business It seek seeks to make mako mak business serve eIVe It Money that takes no risk risks In an Industry but demand Its It toll whether there ther bo be b profit or loss big I is not live money It Is I not whole whole- whole heartedly hole heartedly In the tho th business as a a apart part rt of It It Is a a dead weight and the th sooner the th bu business Is II rId of It It the th bitter better I bead ead money Is not a ft working partner bu but an Idle chargO Live money roes goes Into the th bud buol hess bual-hess floss to nork ork Oric and to share hare with the business It Jt Is there thero her to b be used It shares share whatever there may be It Is asset to the thelast last lut penny and never Or a Q R liability LA 1 Live money mony In a ft business is I usually usually ally accompanied d by the th III labor bor of the tho man or men who teho put It there th re Dead money mOny mon y ll Is a sucker sucker- plant plant plan t Th fh principle of the tho th t of business to the th people hu has he gone gono tar In the United States Slate and It will spread through h and remake the world It was wu not the war but bul butth the seeming Impossibility or reo re- rc conditions as u they were before the tho th war that gave ave Inca inen the first Inkling of ot the tho le lewon lson on they are to learn They would hAve the th war as an accident or as AI a a mistake had thy they not been boen mado to tie see that the tho th war was but the tho symptom of a deeper malady The old tricks hi hev ve fall tailed d The Tho old wisdom has proved fool tool foolishness Ishnea The Tho Th old motives motive are aro ar In In effective If It losing los a ft fals false wisdom and finding a new n w beginning of learning Is I then we mAY that the th world has baa progressed Its old principles principle au are ar ed by experience is I not marked b by ft a definite boundArY across which we step stop but by an attitude and an atmosphere Everything false tolee fals does dou not vanish at ft a gilen moment and ever every thine thing appear app ar Some men know and many others feel teel that business Is some some- something some thing moro more mor than thAt money money money Is a commodity and not a apon po er pon Cr Any business Is all as a gooi S I a fin fin- finIshed fin finished when It begins to finance It I Is sometimes Cal Cal- al though always dangerous to get money for ox extensions tensions except out of pro profits profile fill and there may bo be emergencIes when additional cash cashIs cashIs Is required but this Is very verr dif dlf different di- di ferent from financing for the th sake soko of using financing the business to make mke money through finance finance- Instead of through service The danger dancer point of any ny bud busi business ness Is not when hen It needs neella need money but when hen It becomes become successful enough to be to financed be a foundation for tor a ft Trent great pile ot of stocks and bonds The public Is gullible and may easily bu bf bl takei advantage of ot for ln instance a II certain cot cot- cottam tam tain amount of the stock of or the tho theFord Ford Motor company of Canada Is on the th market It could bo be bought for about 4 i a ft Some bought up up a ft few shares hares and against each sharo one ono hundred of what they called bankers shares hares at It 10 0 each That Is 1 for 1000 1000 what they had bought for tor US fand and the strange partis part Is Is that the th public fell Into the trap trop and ana an free free- freely freely ly paid ald two to dollars for something which they could have e bought ht themselves oll for tor a dollar That shows show how easy It Is ll o 0 turn n successful business Into Inte ft II financial tool WREN WHEN TEST COMES Thus It lt Is just when an indus industry try becomes most widely useful that it Its strongest t testing comes The money mony power will point the i way of ot large larto lock issues of profits mado made out of paper instead I of production ot of easy cay gaIn gaIns by I mixing water ater with Ith ith true worth This Is a ft temptation to which many concerns succumb under uander the delusion that it I Is busIness It ItIs Iti ItIs Is i not business at all but only a method of ot slow suicide Think If you can of o a single Ingle great creat Industry operating today that was as doliber deliberately d created and fostered by the tho money power Every big bif business began bean lowly grew became It filled a want ant and It IC It attracted the th at- at attention at attention of the money power at all It was wa only after growth had been attained A A business which can bring itself to the tho th point where It attracts tho the attention of o money should be b able to continuo continue on It ita own feet teet without