The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1900-01-19
DOES HONESTY IN
BU'INESS PAY!
lBY CHAUNCEY NJ. DEPEw. !

The business principles Of to-day are
better, purer and more universally hon
est than they were in the days of my
boyhood. Then the motto of life ran
something like this: "All is fair in
love, war and trade!n But this genera
ton has tabooed that maxim, and bust
ness methods were never better or
more reputable than they are at this
minute.
Many immense fortunes have been
made by men Of this generation, who
employed strictly honest means to at.
tain their ultimate success and great
wealth
John Wanamaker is a good man to
take for example. He started in a small
way with a small store, and he is to-day
one OF the wealthiest men in the country,
and he has been always an upright
honest man. In what lay the secret Of
his success? Simply in this: He knew
what the people wanted, he knew where
TO buy it and he knew how to advertise
Many man, as we all know, has made
a fortune through iudicious advertising
Take two men starting in business at
the same time. One uses all the money
he makes IN living well and sometimes
even eXtrayagantly. The other invests
all the surplus cash that he can lay his
hands on in advertising here, there,
everywhere that he thinks will attract
public notice. What is the result?
The man who advertises has crowds
Hooking to his shop to see the beauties
of the advertised goods, and us the pub
lie begins to run so they will continue
from sheer force of habit. The first
shopkeeper will in the mean time be sit
ting unthought of and uncared for,
aghast at the crowds which daily throng
the counters of his competitor and bit
terly bewailing the bad luck which has
followed his own venture into trade.
Yet he has no one to blame for it but
himself
The progressive, fearless man is the
man who will make his way every time
he who takes up new ideas and is not
afraid to promulgate them.
| have seen many men become wealthy
through dishonest methods, and my
experience with them has taught me
this: That most men who gain wealth
dishonesty, if they live long enough, get
poor again. 1t is almost an invariable rule
and it is reasonable enough if you
stop to figure it out, for it comes
about in this way: A man employs dis
honest methods and yet he becomes very
wealthy. All his constituents know
that his career is just little bit shady
as regards business methods, but he
sails serenely along until crucial
moment such as we had last week
when "Money ready money Cash at
any price - was the cry O. the madden
ed brokers. Then he finds his Water
loo. The credit which he might have
obtained, the confidence of reliable, rep
utable firms which he might have COM
manded, are not forthcoming His repu-
tation for shady dealings, his ability to
slip out of tight places, his dizziness at
evading technicalities of ordinary bust
ness methods, all cause the firms who
would otherwise have come to his assis-
lance to steer clear of such trickster
as he is known to have been-and he
goes to the wall.
The old, old adage, Honesty is the
best policy" is the safest motto for
every business man to follow. And |
know what am talking about, too.
''Be good and you'll be happy, but you
won't have a good time" may sound
very smart and elicit rounds of applause,
but it is a fallacy through and through.
1t is easier, much easier, for an honest
man to become wealthy THAI for his
dishonest brother, who may seem to
prosper for time, but, mark my words,
it is only temporary success.
Editorial Note: In answering the
question "Does Honesty in Business
Pay" Senator Depew also answers very
intelligently and satisfactorily another
important question, 'Does Advertising
Pay?" Re-read what he says about
that.