The Washington times., 1923-08-27
There Are No Really BIG
Salaries
But Many Smaller Salaries Are Bigger Than They
Ought to Be.
Salaries
What is a BIG salary?
What is q SMALL salary?


The is-that depends OhGt IS done by the man
that GETS the salary
salary is TOO SMALL and offends decency when it does
not enable the man that gets comfortably well fed
and clothed The that gives the best that is in him.
humble though it be- is entitled that will enable him to
live decenty.
As for the much-discussed BIG SALARY there is
sonable limit that least within the figures that
salaries have reached thus far admit that man
DESERVES what he
salary should represent of what the man
employed BRINGS IN.
dogs hired by the week retrieve birds would
quite reasonable give So the dog that brought in
birds and two hundred dollars to the that
brought in two hundred birds
But among there is childish fear and awe of the
GREAT BIG SALARY.
Congressional committee finds corporation
poye earning fifty thousand hundred thousand year.
outcy The probability is that such is dis
tincty UNDERPAD, not getting fifth tenth of his
full value
he adds the earnings of his employers five mil
lions year. what does salary of fifty thousand OF
hundred and fifty thousand amount to?
Consider among saaried Judge Ebert H. Gary head
big States Steel Corporation biggest
trial enterprise in the world he probably GETS Chairman
of the Board what little people that don't know would can
ga very big salary"
may be fifty or hundred thousand it were five hun
dred thousand would from the point of view Of the
amount EARNED be anything but very SMALL salary.
How can a man earn much a hundred two hun
dred thousand dollars year,"
The answer in Judge Garys and in that of many
others is simple.
For instance Judge Gary devised one plan connected with
the steel companys INSURANCE.
In the face Of opposition from the Board Of Directors
Judge Gary insisted that the steel company big enough
insure ITSELF instead of paying high rates and profits to
private insurance companies.
Instead of charging against the company the full of
insurance outside he charged only per off
what insurance in the ordinary way WOULD have Out
Of the thus set aside he paid all the compans losses
in addition BUILT UP A RESERVE FUND OF THIRTY
MILLION DOLLARS.
In other words thanks ONE IDEA Judge Gary saved
the steel company twenty-five per cent Of the Of In
which has amounted to great Millions and in
addition saved accumulated fund of thirty millions the
property Of the stockholders.
Suppose Judge Gary gets 100000 year salary. How
long will it him thirty millions that he saved
his stockholders WITH ONE SINGLE IDEA?
would take him three hundred years at one hundred
thousand year to the thirty millions
And while Judge Gary working his of three
hundred years what would happen the companys thirty
million dollars that he saved invested and renvested?
first hundred years it would amount
TO nine hundred and sixty million dollars
At the end Of the second hundred years the steel
thirty millions invested and reinvesed amount to
THIRTY ONE THOUSAND SEVEN HUNDRED AND TWEEN
TY MILLION DOLLARS
So that Judge Gary could long enough to earn
thirty millions by three hundred years wouldn't be
paid at all In proportion At the end Of third hundred
years. possible keep large sum invested and
reinvested compound nteres-whch fortunately it isn't
the steel company would have the money in
the world.
The right kind of empoye is paid largely for what he
THNKs-when he at home when he wakes up at night
when he sits at his breakfast morning when he goes tn
his work and goes away from it, The cheapest investment
individual corporation make salared man he
really Is worth high salary No frstclass man ever
got a salary equal to what he worth
But millions have got salary great more than thew
worth.
The routine the that follows never leading or
thinking doing only he told planning nothing for him
self, is the man with the TOO BIG salary
Nothing is preposterous than the individual who
thinks that HE ought to have because somebody else
gets than he does It is though thought he
ought to have his salary raised he found the
, locomotive getting higher pay than himself
dangerous mistake of employers and most costly
failure to appreciate the of really man