Finance 69 



without having to accept a ruinously nominal price as 

 must be done at present. Some losses are certain to 

 occur, but the profits on the many mount up whilst tlie 

 losses are minimized, and since each unit is entirely " on 

 his own," to sink or swim according to his ability and 

 fate's decree, and is not a paid servant, each one naturally 

 strives his best to keep going, and so the whole machine is 

 run by picked men, without favour, and goes strong. 

 Brains and energy help capital and experience ; sometimes 

 you tell the man or men to go ahead, and indemnify them 

 against loss when you wish to secure a new centre ; else- 

 where, those at home or at the shipping port may warn the 

 up-country man to "pull-in" for reasons that are not 

 apparent where he is. To the steady and gifted man 

 promotion is sure and often rapid. No posts must be given 

 l)y favour, and so the way is open for those at the extreme 

 outposts to be drawn homewards and, with their long 

 practical experience, to gain control of affairs, provided, 

 that is, they have saved their money and gained the con- 

 fidence of the majority. One point more regarding the 

 manufacturers, and especially the smaller men, to whom 

 progress is denied at present owing to the absence of 

 financial assistance. Here the banking machine could 

 assist to consolidate and facilitate the co-operation of 

 mutual interests as follows: Modern factories to-day, as a 

 rule, are strong believers in division of labour, and instead 

 of making everything themselves they buy the parts from 

 various firms, and put them together with such additions 

 as their own v^orkshops turn out. With the banking 

 machine behind him, even a small manufacturer could 

 execute an order which at the present time he has to pass 

 by, and so we are told there are thousands of pushing firms 

 in London alone wlio could make great use of the financial 

 assistance which others ought to be equally anxious to 

 offer them. Witli "the machine " a manufacturer called 

 A. obtains an order, say, for a mill that costs ;^5oo or 

 ^1,000, of which he actually makes only 25 per cent. 

 He should be able to go to his bank and, once they approve 

 of the firm giving the order, they assist the man to com- 

 plete the work — that is, they send him to other customers 

 to secure the parts, and they are paid through the bank by 

 having their accounts credited with the amounts due. 

 Except for wages no money is needed, and when the 

 machine has been delivered and paid for, probably A.'s 

 account will be credited in the same way, and by then he 

 is busily engaged in doing work for orders obtained by B., 



