The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-02-18
MIR. sCHwAB's REPORT.

The interview published in yesterdays
Journal with Mr.. Charles NJ. Schwab, pres
ident OF the United States Steel Corpora
ton. who has just returned after an alb
sence OF nearly two months in Europe, was
full of interest for his countrymen. Few
Americans who go abroad get as good an
inside view of the current Of European life
do Europe meet scarcely anybody outside
of hotels and railroad trains, and their
casual contact with s~hopkeepers does not
add much to their stock of Information.
The average congressman who goes abroad
has no facilities for getting i'm touch with
concerning European affairs which he
brings back were probably formed before
he went away. Mr.. schwab met men of
affairs. men Of brains and men of wealth
in every country that he vi~sited-diplo-
D~.atists, statesmen. bankers, manufac-
turers, millionaires and others who repre-
sent the power behind thrones. These peo-
pie knew about Mr.. Schwab in advance of
mis- coming, and wherever he went private
houses, clubs and banquet halls were open
to him.. In London he banqueted at the
Carlton Club, lunched at Parliament House
with Mr.. Chamberlain and other prominent
persons. and was the guest OF the lord
mayor at the Mansion House. These facts
are Intended to show the kind of people Mr..
Schwab met and the opportunities he had
Of gauging current public opinion. He says
he found a feeling of the utmost friend
illness for the United States existing every
where in Europe, combined with intense
interest in the question of Industrial COM
binations and universal desire on the part
of business men 10 know more about them
and about American methods. The interest
everywhere shown in the American Steel
Corporation as the greatest industrial COM
bination ever known and tho attentions
paid himself as its head convinced Mr..
Schwab that Americans are on the right
track to control the markets of the world
and that intelligent foreigners recognize
the fact. 1--WE are now he said. more
than ever ready to demonstrate that the
greater the scope of the combination the
greater the possibilities for economy, and
consequently the greater the possibilities
for the reduction of cost. With these OBJ
jects in view We must have our great
plants equipped and manned to perfection,
and no care or proper expense must be
spac red to keep these plants modern and at
the highest point that ingenuity, skill and
enterprise can reach This gives the true
keynote Of all modern capitalization and
consolidation of Observation-Disclosures In the
cost of production and increase of output.
That these two ideas should constitute the
basis of all industrial combinations, and
that, rightly applied, they are invincible, is
so plain that one cannot but wonder that
any person should even have questioned
their legitimacy. Every combination Of
capital or consolidation of industries that
attains these two results contributes to the
prosperity and wealth of the country, no
matter by what name it is called. The
anxiety which Mr.. Schwab found every
where to learn more of American business
methods and to adopt them shows that
they are regarded with favor in all coun-
tries that expect TO compete for commercial
supremacy. Heretofore" said Mr..
Schwab, II have looked upon our great
combination of the steel industries of this
country as perhaps nothing more than an
ordinary business venture of great magni-
tude. but after hearing the views of the
business men of the old world L find that |
have. if anything, moderated our under
taking The business men of the old
world enabled Mr.. Schwab to deliver a very
interesting message.