The Hartford republican. (Hartford, Ky.) 18??-1926, 1917-04-06
WHAT Big BUSINESS
NEEDS MOST OF ALL
OPINION OF AN EXPERT THAT
~ WELL WORTH
FOLLOWING.


ion between these two forces of our
I national life. II has not been long
since business men. coming to Wash
ington with their plans and their
/ questions, were met with a shrug at
I the Department of Justice. I'VE can
not answer your questions, nor tell
! you whether your plan is within the
/ law" was the answer they heard. II
/ the lawyers in the Department OF
I Justice seemed to business men to
care little or nothing for the per-
picking economic problems that con-
fronted business men, IL was not
| their fault, but a defect In govern
mental machinery. 1t was the duty
of this department to concern itself
primarily with violations of the law.
Since the organization of the Federal
Trade Commission. under the able
Craftsmanship of the Hon. Edward ~
Hurley, on March 16, 1915, TO the
credit of the present administration
! il may be said that there is a new
and valuable governmental agency.
working with the business men of the
country, seeing their problems from
their point of view, counseling with
them, in anticipation of their troubles
and advising with them how the
problems may be met.
Their problems are many and
large. The present prosperity of the
country presages a fierce war when
armed hostilities are over. To this
competition from abroad is added the
internal pressure of a nation no
longer large enough to provide a
market for its own products. In this
emergency the business men turn to
the Government for aid. what can
we do to help ourselves?" they ask,
and what will you do to help us?"
First of all, get your house in
Order" replies Mr.. Hurley. Meth
or cooperation with other business
men nor with the Government will
save the individual manufactures
whose producing and selling meth
DDS are not efficient
Mr.. Hurley is no mere theorist.
From his experiences as railroad
engineer, travelling salesman, busin-
ess manager. organizer and promoter
farmer and stock-raiser, and Trade
Commissioner to Latin-America. he
has become familiarized with the
problems of business, and in the Fed
eral Trade Commission he has met
the difficulties and has been equal to
them.
Learn your costs" has been his
advice to questioning business men.
'The question of prices comes later.
In Germany 95 per cent. of the man
ufacturers can produce cost sheets
that show accurately what their ex-
penses are. Only 10 per cent. of
American manufacturers know their
costs as well. and 80 per cent. are
pricing their goods on estimated
costs. Bad debts are carried along
on the credit side of the books; de-
probation charges are ignored or
carried over from year to year. watt
ing for a banner year with big profits
against which they may be charged.
Such conditions lead to ignorant
competition. The unsystematic pro-
ducer heads down hill to destruction,
cutting prices as he goes, and takes
with him the efficient manufacturer
who cuts his prices to meet the COM
petition.
Organization is the next step.
Trade associations are the machinery
of cooperation; they also can des-
troy ignorant competition and sys-
tematized industry. There are in
the United States about 5000 trade
associations, representing different
industries, in addition to at least an
equal number of chambers of COM
merce and commercial bodies.
Methods, processes and products
in an industry ought to be standard
lied, and the trend is in that direc
tion.
"Our export trade offers an op
for American business men,
These businesses which are at pre-.
cent engaged I'm export manufacturers
should not be strapped after the war
Foreign trade is stabilizer and
Ii reducer of production costs. The
manufacturer who furnishes for ex.
portation regularly 10 or i6 per
cent. Of his production is Insured
against local hard times and the an
nual dull season. But foreign trade
is national; nowhere is Government
cooperation more needed than In the
field. The passage Of the Webb Bill
to promote cooperative selling
abroad will be great aid. "-Leslie's
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