The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-31
ADE COMMISSIONER E. N. HURLEY ON NEEDS OF BUSINESS

brought to a scientific basis. Hence the necessity
for American business being equally exacting
In Its methods.
Excellent though the systems OF accOuntancy
we have In some concerns may be, 1t IL true
that accountancy generally. in the matter OF
exact cost keeping in particular, has not got up
to European standards. 1t Is not to our credit
that ~ many Of our larger establishments have
men Of alien firth and training in their account.
ing, auditing and business analy ling depart
ments.
>"Accountancy as a profession Is developing
rapidly In this country. but not all business men
rs yet recognize its Importance. Thorough anu
accurate knowledge Of the cost Of production Ia
something that every business man ought to
have. but It Is something that relatively few Of
them possess.
This is a distinct handicap to the granting
Of credits. and a handicap which ought to be
overcome"
A dynamic person IL this vice-chairman OF
the Federal Trade Commission. Some Of the
energy " the pneumatic tools he used to manu-.
facture seems to abide in him. Only fhty-one
years old, ne has accomplished much In the
world. Stocky. muscular. alert. alive. his
thoughts move faster sometimes than he can
express them in words, and his hands and fea-
lures have to help out. He radiatcs forceful-
ness.
lie has made much money; he has engaged
in many enterprises; he has created factories
in America and European countries; he has been
a railroad director and a bank president.
Ask him the secret Of his business success and
he will tell you. with n touch Of impotence.
that he does not know. lie has no prescription
warranted to bring success. no intricate theories
80, a., .,tt,,, g. Ia, - an trncti,n1 suup Got
him in II confidential mood and ne may admit
that the habit Of thoroughness his mother in
stillei In him in performing tasks about the
house when he was a small boy may have
had something to do with what he has accom-.
plished.
Call him n political economist and he would
not consider himself fattered. and yet his report
on financial and trade conditions In Latin Amer
lean countries. made as n result OF a journey he
took AS a trade commissioner in 1913 for the
Department Of Commerce.. is considered IA text
book by political economists.
With a common school education he began to
earn his own living as an apprentice in Il rail-
road machine shop in his native town Of Gales
burg. H.. when he was a boy. From there he
went to railroad shops I'm Chicago. became a
locomotive fireman, and years before he had
reached his majority he was Il locomotive engi-
neer.
Restless. ambitious, he left that employ To be-
come Il salesman for a company manufacturing
railway supplies. Presently he was sales man
ager at n large salary and on the side an inven-
tor 81 successful equipment and supplies for rail.
ways.
Then. with n few thousand dollars saved and
n loyal partner. ne left all this to embark In
business for himself and to develop his ideas for
making pneumatic ;ools. His first factory was
an old barn. The tools began to sell. and sell in
great quantities.
\ bigger factory came. Then he went IL Eng
land. talk,Si English investors into the enter
prise and erected another factory there. Pres
entity ~ was the dominating figure in the Ineu
matte tool business Of the world. and at thirty
eight was wealthy.