The Washington herald., 1913-11-25
Frank A. Munsey.

Mr. Frank a. Munsey Is q man
genius. His career justifies number
ing him among those who achieved
very high results BY original meth
ods. not following beaten tracks,
but blazing new paths. That is one
of the characteristics Of genius. 1t
creates new precedents. These serve
others, so that in the best meaning
of the term they become imitators.
Sometimes it is said of a man OF
genius that, notwithstanding his
pre-eminent ability, nevertheless ne
has many eccentricities of tempera-
ment or of thought. But in almost
all cases these eccentricities are.
after all. no more than the uncon-
scious demonstration of the original
manner in which genius works.
Many have been the occasions
when Mr.. Munsey has, in obedience
to the inspirations of his genius,
done things in a different way than
that established by precedent. It
vas the impulse of his genius which
compelled him twenty years ago to
say, Hereafter the price of my
magazine will be 10 cents number
instead of 25." That was regarded
as an eccentricity by almost all
publishers of the time. But it was
the first definite and visible step
taken by Mr.. Munsey along the path
which has made it possible for him
10 accumulate one of the great
American fortunes.
Mr.. Munsey's genius has COM
PEELED him while making a fortune
TO maintain the highest standards Of
business probity. For a time there
was wide recognition of the fact
that Frank A. Munsey's name was a
synonym for business conscience.
Therefore ne gained high credit.
Great as his fortune is, his credit
is an even greater asset.
The truth of this statement was
demonstrated on Friday of last
week. The Munsev Trust Company
took over the imperiled United
States Trust Company and guar
anteed all of the obligations of that
company. That of itself is a perfect
guarantee. No other was needed, but
Mr.. Munsey has gone farther than
any other great banker of the
United States has ever done in aid
ing an imperiled banking institu-
ron. The trust company which
bears his name, and which CT itself
ftly symbolizes his business genius
IS abundantly able to guarantee the
obligations of the United States
Trust Company. Mr.. Munsey, how.
ever, in addition to this guarantee,
offers his own name, his own for
tune, his own ability, as an addi-
tional guarantee.
What this means not only to the
City Of Washington, but to the
banking and financial interests of
the United States at this time, will
be better understood perhaps a year
hence than is possible at this mo-
ment. But this much is known.
Frank A. Munsey las, with the
combined resources Of an institu-
tion which he created and which re-
fleets his entire business career and
with his own fortune and his great
asset, which is his high credit, in a
moment turned a situation which
was desperate and whose ramifca-
lions might be far-reaching into a
new and healthful condition. The
rumors disappeared. Faith and con-
6dence were restored. Mr.. Munsey's
name and that of his institution
served as a perfect financial tonic.
There will be, I feel sure, no
greater achievement recorded in the
marvellous career of Frank 4. Mum
sey than that which tells of the
manner in which he, both as an in
dividual and as president of an in
stitution which bears his name, in
the twinkling of an eye almost
brought back financial health and
confidence to the banking life of
Washington, and to some extent to
the country.
CLINTON r BRArNARD