The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-02-17
MONEY AND ITS USES
ANDREW CARNEGIE GIVES RULES
FOR ACQUISITION OF WEALTH.
Monte Carlo and Wall Street Put ON
the Same PIanc-Fame More Gem
orally Desired than Ricaes.

subject was wv dltn ana It's Uses, ana
among other things he said: Let me
give a few rules founded upon expert
ence as to competence and wealth and
how to win them:
"First-Concentrate your mind and
effort upon one pursuit. 1t does not
matter much what that pursuit is. so
that it be useful and honorable, and be
the first authority in that. OF course,
you have heard the advice, Not to put
all your eggs in one basket 1t is long
since I first told young men to reject
that advice and pursue just the con-
trary course. Put all your eggs in one
basket and then watch that basket
More men fail to win competence and
wealth from disregard of this advice
and from scattering ones shot than
from any other cause. Whenever you
see man who is director in twenty
different companies and interested in
various pursuits put him down as one
sure to become a Observation-Disclosures and
master Of none. This is the age of
specialization. I have known many
men fail. but very few owing to their
own business. Generally because they
have had investments in avocations
which they did not understand
There is a second rule: You must
not be content with simply performing
the part assigned to you; you must do
something beyond that, and watch your
employers interest at every point, no
matter whether it is in your special
province or not, and do not hesitate to
apprise him promptly of anything that
you see in any part of his business
which does not commend itself to your
august approval. You have heard
Obey orders if you break owners Do
not let the graduate of old Union be
so stupid. Break them any time if you
are clear that breaking orders will save
owners and then go boldly to your en-
ployer and point out to him how foolish
he has been in giving such an order.
Believe me. the young man who does
not know the business of his special
department much better than his en-
ployer can possibly do has not the ele-
ments of the future millionaire in him.
There Is another point: Never try
to make too good bargain either for
yourself or for your employer Be al
ways fair, avoiding anything like sharp
practice. 1t is a poor bargain when
both parties to it are not benefited, and
therefore happy at having made it,
Every unjust advantage taken in bust
ness sooner or later proves a serious
disadvantage. Men who become great
millionaires. cooperating as they must
with others, must secure and hold the
and bear reputation as being in all
things fair, liberal and considerate;
their word must be better than their
bond, and their desire to do the fair
and liberal thing better than either
word or bond.
MONTE CARLO AND WALL STREET.
Never speculate. The man who
CANDLES in stocks in Wall street is not
more culpable than he who CANDLES at
Monte Carlo, but he has much less
sense, because the chances between win
ming and losing are not as equally di-
vided in New York as at the regular
gambling establishment. The life of
speculator. of course. is the life of a
gamester. and this is fatal to the de-
velopment of the judging and reasoning
faculties in man. 1t is a life of intense
excitement, fatal to thought and study
There are but few instances of men who
have won fortune the exchange.
They are up to-day and down to-mor-
row and usually break down in middle
life shattered wrecks. These of you
who may become New York physicians
may soon become acquainted with the
lamentable results of stock gambling.
l pray you avoid speculation as you
would prosper not only in wealth, but
in health. happiness and honor. Besides
this moral consideration should pre-
NGHI YOU Inc man VINO WINS the
money of others renders no service to
his fellows in exchange. All we get
should be in return for some service
rendered.
1T is indispensable that the future
competence maker or millionaire should
begin to save a portion of his earnings
early. no matter how small these earn
ings may be. 1t is great mistake,
gentlemen, to think that good habits
and ability go unrecognized in this age
mi 9 or anti xy
keeping his eye open for just these quail
tiles in young men. 1t is not capital
that he desires, but ability, character
and good thrifty habits. Begin to Law
by portion Of your earnings every
month and keep up that habit and
should like to insure you at a very low
rate your future millionaireship.
Now what is wealth? How is it
created and distributed? There are not
far from us immense beds OF coal which
have lain for millions of years useless,
and therefore valueless. Through some
experiment, or perhaps accident, it was
discovered that black stone would burn
and give forth heat. Men sank shafts,
erected machinery, mined and brought
forth coal and sold it to the community.
1t displaced wood as fuel, say at one
half the cost. Immediately every bed
of coal became valuable because useful
or capable of being made so, and here
new article worth hundreds, yes, thou
sands of millions. was added to the
wealth of the community.
IA Scotch mechanic one day, as the
story goes. gazing into the fire upon
which water was boiling in a kettle
saw the steam raise the lid, as hun
dreds of thousands had seen before him.
but none saw in that sight what he did
the steam engine, which does the work
of the world at a cost SO infinitely
trifiing compared with what the plans
known before involved that the wealth
of the world has been increased one
dares not estimate how much. The
saving that the community makes is
the root of wealth in any branch of ma
terial development. Now young mans
labor or service to the community
creates wealth just in proportion as
his services are useful to the commun-
ity, as it either saves or improves upon
existing methods.
FAME MORE SOUGHT FOR.
Now, gentlemen, it does not seem
to me that the love of wealth is the
controlling thought, the controlling de-
sire of SO many as the love of fame,
and this is matter for sincere con-
graduation and proves that under the
irresistible laws of evolution the race
is slowly moving onward and upward.
Take the whole range OF the artistic