Part 2

"Mr. Jones," I went on, "tell me the truth! After you buy a bond or a stock certificate, do you ever take the trouble to see if it is signed and countersigned properly? Moreover, if you find it signed, is there any way by which you may know whether the signature is genuine or forged?"

"No," he said, "there isn't. I am absolutely dependent on the integrity of the bankers from whom I buy the securities."

And when you think of it, there is really no value at all in the pieces of paper which one so carefully locks up in these safety deposit boxes. There is no value at all in the bank-book which we so carefully cherish. There is no value at all in those deeds and mortgages upon which we depend so completely. The value rests first, in the integrity of the lawyers, clerks and stenographers who draw up the papers; secondly, in the integrity of the officers who sign the documents; thirdly, in the integrity of the courts and judges which would enable us to enforce our claims; and finally, in the integrity of the community which would determine whether or not the orders of the court will be executed.

These things which we look upon as of great value:--the stocks, bonds, bank-books, deeds, mortgages, insurance policies, etc., are merely nothing. While fifty-one per cent. of the people have their eyes on the goal of Integrity, our investments are secure; but with fifty-one per cent. of them headed in the wrong direction, our investments are valueless. So the first fundamental of prosperity is integrity. Without it there is no civilization, there is no peace, there is no security, there is no safety. Mind you also that this applies just as much to the man who is working for wages as to the capitalist and every owner of property.

Integrity, however, is very much broader than the above illustration would indicate. Integrity applies to many more things than to money. Integrity requires the seeking after, as well as the dispensing of, truth. It was this desire for truth which founded our educational institutions, our sciences and our arts. All the great professions, from medicine to engineering, rest upon this spirit of integrity. Only as they so rest, can they prosper or even survive.

Integrity is the mother of knowledge. The desire for truth is the basis of all learning, the value of all experience and the reason for all study and investigation. Without integrity as a basis, our entire educational system would fall to the ground; all newspapers and magazines would become sources of great danger and the publication of books would have to be suppressed. Our whole civilization rests upon the assumption that people are honest. With this confidence shaken, the structure falls. And it should fall, for, unless the truth be taught, the nation would be much better off without its schools, newspapers, books and professions. Better have no gun at all, than one aimed at yourself. The corner-stone of prosperity is the stone of Integrity.

FAITH THE SEARCHLIGHT OF BUSINESS

This religion which we talk about for an hour a week, on Sunday, is not only the vital force which protects our community, but it is the vital force which makes our communities. The power of our spiritual forces has not yet been tapped.

About three years ago I was travelling in South America. When going from Sao Paulo up across the tablelands to Rio Janeiro, I passed through a little poverty-stricken Indian village. It was some 3,000 feet above sea level; but it was located at the foot of a great water-power. This water-power, I was told, could easily develop from 10,000 to 15,000 horse-power for twelve months of the year. At the base of this waterfall lived these poverty-stricken Indians, plowing their ground with broken sticks, bringing their corn two hundred miles on their backs from the seacoast, and grinding it by hand between two stones. Yet,--with a little faith and vision, they could have developed that water-power, even though in a most primitive manner, and with irrigation, could have made that poverty-stricken valley a veritable Garden of Eden. They simply lacked faith. They lacked vision. They were unwilling, or unable, to look ahead to do something for the next generation and trust to the Lord for the results.

I met the head man of the village and said to him: "Why is it that you don't do something to develop this power?"

"Why, if we started to develop this thing," he answered, "by the time we got it done, we would be dead."

Indians had lived there for the last two hundred years lacking the vision. No one in that community had the foresight or vision to think or see beyond the end of his day. It was lack of faith which stood between them and prosperity. Hence, the second great fundamental of prosperity is that intangible "something,"--known as faith, vision, hope, whatever you may call it.

The writer of the Book of Proverbs says: "Where there is no vision, the people perish." Statistics teach that where there is no vision, civilization never gets started! The tangible things which we prize so highly,--buildings, railroads, steamships, factories, power plants, telephones, aeroplanes, etc., are but the result of faith and vision. These things are only symptoms of conditions, mere barometers which register the faith and vision of mankind.

This religion which we talk about for an hour a week, on Sunday, is not only the vital force which protects our community, but it is the vital force which makes our communities. The power of our spiritual forces has not yet been tapped! Our grandchildren will look back upon us and wonder why we neglected our trust and our opportunity, just as we look back on those poor Indians in Brazil who plowed with crooked sticks, grinding their corn between stones and hauling it on their backs two hundred miles from the seaboard.

* * * * *

These statements are not the result of any special interest as a churchman. I am not a preacher. I am simply a business man, and my work is almost wholly for bankers, brokers, manufacturers, merchants and investors. The concern with which I am associated has one hundred and eighty people in a suburb of Boston who are collecting, compiling and distributing statistics on business conditions. We have only one source of income, and that is from the clients who pay us for an analysis of the situation. Therefore you may rest assured that it is impossible for us to do any propaganda work in the interests of any one nation, sect, religion or church. The only thing we can give clients is a conclusion based on a diagnosis of a given situation. As probably few of you readers are clients of ours, may I quote from a Bulletin which we recently sent to these bankers and manufacturers?

"The need of the hour is not more legislation. The need of the hour is more religion. More religion is needed everywhere, from the halls of Congress at Washington, to the factories, the mines, the fields and the forests. It is one thing to talk about plans or policies, but a plan or policy without a religious motive is like a watch without a spring or a body without the breath of life. The trouble, to-day, is that we are trying to hatch chickens from sterile eggs. We may have the finest incubator in the world and operate it according to the most improved regulations--moreover, the eggs may appear perfect specimens--but unless they have the germ of life in them all our efforts are of no avail."

I have referred to the fact that the security of our investments is absolutely dependent upon the faith, the righteousness and the religion of other people. I have stated that the real strength of our investments is due, not to the distinguished bankers of America, but rather to the poor preachers. I now go farther than that and say that the development of the country as a whole is due to this something, this indescribable something, this combination of faith, thrift, industry, initiative, integrity and vision, which these preachers have developed in their communities.

Faith and vision do not come from the wealth of a nation. It's the faith and vision which produce the wealth. The wealth of a country does not depend on its raw materials. Raw materials are to a certain extent essential and to a great extent valuable; but the nations which to-day are richest in raw materials are the poorest in wealth. Even when considering one country--the United States--the principle holds true. The coal and iron and copper have been here in this country for thousands of years, but only within the last fifty years have they been used. Water-powers exist even to-day absolutely unharnessed. Look the whole world over and there has been no increase in raw materials. There existed one thousand years ago more raw materials than we have to-day, but we then lacked men with a vision and the faith to take that coal out of the ground, to harness the water-powers, to build the railroads and to do other things worth while. So I say, the second great fundamental of prosperity is Faith.

III

INDUSTRY VS. OPPORTUNITY

Industry is the mother of invention. Struggle, sacrifice and burning midnight oil have produced the cotton gin, the sewing machine, the printing press, the steam engine, the electric motor, the telephone, the incandescent lamp and the other great inventions of civilization. Some religious enthusiasts think only of the "lilies of the fields" and forget the parable of the talents.

A few years ago I was employed by one of the largest publishing houses in the country to make a study of America's captains of industry. The real purpose of the study was to discover some industry or some man that could be helped greatly through national advertising. In connection with that study of those captains of industry, I tabulated their ancestry. These were the seventy greatest manufacturers, merchants and railroad builders, the leading men who have made America by developing the fields, the forests, the mines and the industries. What did I find? I found that only five per cent. of these captains of industry are the sons of bankers; only ten per cent. of them are the sons of manufacturers; fifteen per cent. of them are the sons of merchants, while over thirty per cent. of them are the sons of poor preachers and farmers.

Why is it that ministers' sons hold a much more important place in the industrial development of America than the sons of bankers? The ministers' sons inherit no wealth, they have no more than their share of college education; they are not especially religious as the world measures religion. In fact, there is an old saying about "ministers' sons and deacons' daughters." I would be false to my reputation as a statistician to hold up these captains of industry as saintly examples for young men to follow. But the fact remains nevertheless that these men are creating America to-day. Now, what's the reason?

The reason is that these men have a combination of the two traits already mentioned and a third added thereto;--namely, the habit of work. They have inherited a certain rugged integrity from their mothers and a gift of vision from their fathers which, when combined with the habit of work--forced upon them by their family's meager income--means power. Integrity is a dry seed until put in the ground of faith and allowed to grow. But faith with works is prosperity.

A man may be honest and wonder why he does not get ahead; a man may have vision and still remain only a dreamer; but when integrity and vision are combined with hard work, the man prospers. It is the same with classes and nations.

It has been said that genius is the author of invention. Statistics do not support this statement. The facts show that industry is the mother of invention. Struggle, sacrifice and burning midnight oil have produced the cotton gin, the sewing machine, the printing press, the steam engine, the electric motor, the telephone, the incandescent lamp and the other great inventions of civilization.

Why is it that most of the able men in our great industries came from the country districts? The reason is that the country boy is trained to work. Statistics indicate that very seldom does a child, brought up in a city apartment house, amount to much; while the children of well-to-do city people are seriously handicapped. The great educator of the previous generation was not the public school, but rather the wood box. Those of us parents who have not a wood box for our children to keep filled, or chores for them to do, are unfortunate.