Willmar tribune. [volume] (Willmar, Minn.) 1895-1931, 1903-10-28
COLONEL MONR0E'S DOCTRINE
Colonel Monroe Explains What Cannot Be Done With
Million Dollars
BY FREDERICK UPHAM adams


legle was boy every INDUSTRY In lnlS
country was in it's infancy. The steel
business had hardly been born. There
were few railroads. There were no
trusts Oil had not been discovered.
The man with $4,000 was capitalist
and could with comparative safety en-
bark in any business he fancied. Name
to me an industry in which our young
friend Tom Jones can independently
invest his $1,O00,0OO with fair chanceH
of success. Which of our standard in
dustries would you suggest, Judge Saw
yer? Pick out one, either in the manu-
featuring or mercantile line. in which
Tom can go into business for himself
with $1,OO0,OOO for his capital"
81 should not care to answer that
question offhand," cautiously returned
Judge Sawyer. II should not advise
him to enter on banking career with
million. If Tom were my boy I
should advise him to invest his money
in low interest bonds"
Every sage advice, but not to the
point" returned the colonel. Cutting
coupons from bonds is not an industry,
though it is a safe employment. With
his million thus invested Tom would
have an income of from $4,000 to $780,
600 year. He will never acquire a
billion at that rate. What shall our
unfortunate young millionaire do with
his money? Let us look over the field.
capitalization Of nearly 200 Of our lead
ing corporations and trusts. They are
rated all the way from $1O,OOO,OOO to
81 500, 100000. Which one of them shall
Tom attack? He is young, active and
brainy, and the million is in ready
cash. Shall he enter into the whole
sale dry goods business? Marshall
Field has $3O,OOO,OOO or more thus in
vested, and Tom lacks his knowledge
of the details. Say the grocery bust
ness? There are four firms each cap
italized at more than $10,OOO,OOO. Sug-
ar? How long would Toms puny mill
lion last in competition against the
sugar trust? Whisky or brewing? His
pebble would not create a ripple. Ag-
ricultural machinery? A modern plant
cannot be equipped for less than $751;
100000, and Tom has no patents. To-
bacco? Ridiculous. Matches? Matches
are small things, but Toms million
would have to grow many, many times
before he could face the match giant.
How about electrical machinery? Here
Is new industry not yet a score Of
years old, yet Tom would have one
, competitor with actual assets worth
SIC, 100000. another of $25,OOOOOO and
a third with about $1O,OOO,OOO. He
! might tackle paper against $4,000 900,
salt against $30,OOO,OOO, ice against
$15,OOO,OOO. asphalt against $4,000, 900,
biscuits against $5O,OOO,OOO, collins
against $6,0OO,0O0, lead against $780,
OOO,O 900, baking powder against $2O,OO0,-
900, oil against $100,000,0O0 and meat
against $30,0OO,000, leather against
$130,000,O00, rubber against $47,O00,-
600. tin plate against $46,OOO,OOO or
steel against $1,5O0,00O,O0O Would
you advise him to fight any one Of
these corporations?"
II cannot say that I would" replied
Judge Sawyer. "but the inventive gen.
fus of the country is constantly in
stalling new INDUSTRIES"
Every true. and Tom may get in on
the ground floor" said Colonel Mon
roe, 'but his 100000 is small, very
small. You must admit that, Judge
Sawyer. And if he finds himself in a
dilemma, as he will, what shall we say
of the young man who starts with
nothing? Years ago every one Of the
hundred or more standard Industries
was open to the competition of any
man who by luck or industry had &C
quired few thousand dollars It is
mockery to assert that the same is
true today. The gates of opportunity
are not closed, but they are strongly
guarded"
'Perhaps Tom is going to New York
to start newspaper" suggested Post
master Jenkins. He's a splendid writ
er and tried once to get job on the
Lincolnville Clarion"
'1n that event | should advise him
to buy round trip ticket good for
six MONTHS said Colonel Monroe as
he arose to go.