>[axa(;ement of oooperative sopiettes. 249 



petition; the quality of his own and competing goods; usual 

 annual world's consumption at a given price; ratio of increase 

 of consumption upon reduction of price; financial condition 

 of his own and competing people, and of consumers; stocks 

 on hand in consuming districts; names of wholesale purchas- 

 ers; names, standing, and connection of brokers; character and 

 disposition of his directors and stockholders; and many other 

 matters. It is the same with any other business: the manager 

 needs to know accurately and in detail all the facts bearing 

 on that business; when all the facts are known, the proper 

 policy will be apparent to all. I have seen many meetings of 

 directors and stockholders, and when facts have been once 

 settled, there has invariably been unanimity in opinion as to 

 policy. It is needless to say that no manager can be expected 

 to know all that a manager should know as to the business 

 committed to him, but the nearer he approaches to j)erfect 

 knowledge, the more useful he will be. 



Right here is a point at which cooperative business will 

 always be at a disadvantage as compared witii competitive 

 business. The owner of a competitive business will usually 

 be a person who by long experience has become a master of 

 the business, and by natural selection has proved his vigor; 

 if he has occasion to employ a person for a responsible position, 

 he is an excellent judge of his qualiiications since he will 

 almost certainly be the better informed; and his personal 

 interests will lead him to the utmost care in selection. In 

 cooperative business, on the contrary, the proposed manager, 

 at least in the beginning, will almost certainly need to know 

 more than any of his employers, and how shall they who have 

 not the qualifications, sit in judgment on one who knows more 

 than they? They can only do it as they select their doctor or 

 their lawyer, by their general judgment of the man, except — 

 and it is a very important exception — tliat they have the 

 opportunity to ask the policy of the proposed manager, and 

 his reasons for that policy, in the course of his explanation ol 

 which the extent of his knowledge will appear. A man who 

 has no definite policy to propose, or who is unable to state 

 clearly, with the authority given, his reason for that policy, 



