The Gospel of Wealth Essays and Other Writings by Andrew Carnegie

Author:Andrew Carnegie
Language: eng
Format: epub
Publisher: Penguin Publishing Group

Upon this sermon “The Gospel of Wealth” seems founded. Indeed, had I known of its existence before writing upon the subject, I should certainly have quoted it. I shall, therefore, not be shaken, even if a leading disciple of Wesley informs us that Mr. Carnegie (as representing the millionaire class, of course) is an “anti-Christian phenomenon,” a “social monstrosity,” and a “grave political peril,” and says, that “in a really Christian country—that is, in a country constructed upon a Christian basis—a millionaire would be an economic impossibility.” The millionaire class needs no defence, although Mr. Hughes thinks it no longer of use since joint-stock companies provide the means for establishing industries upon the large scale now demanded. It is most significant that the business concerns which have given Britain supremacy are, with few or no exceptions, the creations of the individual millionaire: the Cunards, Ismays, Allens, Elders, Bessemers, Rothschilds, Barings, Clarks, Coates, Crossleys, the Browns, Siemens, Cammels, Gillotts, Whitworths, the Armstrongs, Listers, the Salts, Bairds, Samuelsons, Howards, Bells, and others. Joint-stock companies have not yet proven themselves equal to properly manage business after such men have created it. Where they have succeeded, it will be found that a very few individuals, and generally but one, have still control of affairs. Joint-stock companies cannot be credited with invention or enterprise. If it were not for the millionaire still in business leading the way, a serious check would fall upon future improvement, and I believe business men generally will concur in the opinion, which I very firmly hold, that partnership—a very few, not more than two or three men—in any line of business, will make full interest upon the capital invested; while a similar concern as a joint-stock company, owned by many in small amounts, will scarcely pay its way and is very likely to fail. Railroads may occur to some as examples of joint-stock management, but the same rule applies to these. America has most of the railroads of the world, and it is found whenever a few able men control a line, and make its management their personal affair, that dividends are earned, where before there were none. The railways of Britain being monopolies, and charging from two to three times higher rates for similar service than those of America, only manage to pay their shareholders a small return. It would be quite another story if these were the property of one or two able men and managed by them.

The “promotion” of an individual into a joint-stock concern is precisely what the “promotion” of the individual is from the House of Commons to the House of Lords. The push and masterdom, the initiative of the few owners, which have created the business, are replaced by the limited authority and regulation performance of routine duties by salaried officials, after “promotion,” while the career of both concern and individual may continue respectable, it is necessarily dull. They are no longer in the race; the great work of both is over. It would

Download

Copyright Disclaimer:
This site does not store any files on its server. We only index and link to content provided by other sites. Please contact the content providers to delete copyright contents if any and email us, we'll remove relevant links or contents immediately.