The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1910-11-06

in price. and so good an authority as
James ]. Hin says that we shall be
supporting things to eat II our negleci
Of agriculture continues. l have no fear
concerning socialism-our home-owners
farmers, business men, and depositors
in banks will halt It long before it be-
comes strong enough 10 destroy the coun-
try"
why die you leave school, asked,
when you were sixteen years OF age2'
my father was a physician. graduate
Of the University of Pennsylvania and the
College of Surgeons. and a successful
man. Naturally, he was ambitious for
me TO follow in his footsteps and to in
herit his practice. He planned that
should go to college and then prepare for
my profession In Vienna. But | robelled
and suggested business. and he wisely
took me out of school and found a place
for me with Peter Wright & Sons, inn
porters Of erockery If you won't be a
doctor he said. the sooner you get to
work The better
Wanted to Quit.
"I was a clerk in the counting room,
receiving $50 the first year and having
my wages doubled the second. Many
times ! wanted TO Quit, but stood by
my job and swallowed my medicine. Pre-
sumab.y I was to learn the crockery
business. but I soon got into shipping.
English potters. largely overstocked, sent
my employers several shiploads OF crock
cry. with the understanding that we were
to find cargOes Cor the ships back to Liv-
eTpool So We Unexpectedly found our
selves In the general commission bust
ness. loading twelve sailing ships a year
With all kinds OF merchandise and prod.
uce. ] took te shipping naturally-any-
way, ] liked IL better than crockery-and
built Il up In the firm. and at the age OF
twenty-One was admitted TO the partner
ship relationship that permitted me To
get married.
Il worked along until John Edgar
Thomson. president OF the Pennsylvania
Railroad. sent for me His railway was
bringing in freight from me West, espe-
eially oil, aud he wanted a line of steam
ships to Europe. ! went abroad TO study
the situation. and decided that Antwerp
was the best port for US, ali things con-
sidered. We built two vessels, and that
Is the way the Red Star Line came into
existence, 1t is doing business yet and
IS making money
While In Belgium I formed the &C.
Guaintance OF King Leopold. Later he
offered as $4,000 II We would transfer
our Antwerp ships from Philadelphia TO
New York. proposal that was accepted.
for which act I was abused roundly al
home. King Leopold was the ablest
business man | have ever known, and
al the men who followed him made
money. He had talent for large enter
prises, but the little things didn't 20
cut OF his head
Mr.. Griseom.' he once said, do YOU
know when YOU came TO see me lastg
II was exactly eight years ago. Never
stay away so long again I want 10
visit with you and talk about American
Stocks
But you know more about American
stocks than ! DO. / replied The King
seemed pleased at what ! said However,
told him truth.
Spreads Over Ocean.
''Wel. we bought other vessels and
other lines until we had twenty-six
steamships on the ocean. Eventually we
became the International Navigation
Company. of which / was president for
many years. Then We built two fine
ships on the Clyde-the first twin-screw.
twenty-knot steamers 10 carry passen-
gers IN the North Atlantic trade. They
we're the famous New York and Paris,
end they are sound and swift and busy
to-day. We put them under the British
flag, but called them the American Line
Later We built the 81 Louis and ST. Paul
IN this country, and by doing so We're
permitted. BY q special act OF Congress.
to register all the ships in the United
States. In 1909 Mr.. J. Pierpont Morgan
and myself osganized the international
Mercantile Marine Company and brought
together under one management the va
rious fleets Of the old company and the
fleets OF the White Star Line, the Atlantic
Transport Line. the Leyland Line, and
the Dominion Line"
And why" I asked. 'have YOU kept
the Stars and Stripes of your masts2'
Cheaper Abroad.
For business reasons entirely. as YOU
must understand. We can build ships
abroad for 20 Per cent less than they can
be built for in this country Then,
could hire foreign seamen for $50 a
month. Americans demand $50 Count
Ing Increased interest charges and in
creased operating expenses, Il would
have been impossible TO compete with
ships owned abroad
Furthermore. foreign countries help
their ship owners. The Lusitania and
Mauretania, the great vessels OF the Gu
nhrd company, were built with British
government bonds, in other
wOrds-anG the money, interest and prlh-
cipal. is returnable, as ii is earned, dur
ing a period of twenty years. That's one
of the ways in which Britannia rules the
ocean"
copyright. 1910. by James B. Morrow