MR ROCKFELLER ON HIMSELF

Taranaki Daily News, Volume LI, Issue 297, 10 December 1908, Page 4

MR ROCKFELLER ON HIMSELF

Tlie World's Work contains Mr. Rockefeller's introductory article to lii.s " Handom Reminiscences of Men and Events.' Jle finds that the Standard Oil Company is misrepresented, and lie wishes to supply some first-hand facts for its linal estimate.

In reply to the charge that he forced the men who became his partners to join with liim, he replies that lie would not have been so short-sighted. ilie power and efficiency of the organisation is, lie considers, the best proof of the loyal -harmony with fair dealing which have been observed amongst the partners who have been his lifelong companions. The daily lunch shared in common by the ollicers of the company ■Slid heads of departments lie regards as a proof 01" their friendship. Would people forced into partnership seek each other's companionship in this way? The consumer, lie maintains, lias ben - tiled also by the Standard Oil Company, lie lias received petroleum at prices which have decreased as the elliciency of the business was built up. Its principle of selling direct to the user was not a ruthless cpiest after tile trade of its competitors, or an attempt to ruin it by cutting prices or instituting a spy system. Every week in the year, he proudly says, for many, many years, this concern lias brought into America more than a million dollars of gold ( t;2UU,OUU), all from the products produced by American labour. Vet at the beginning it was regarded as a most adventurous and risky concern. A distinguished friend of his tried forty years ago to dissuade him from his "worse than folly." Hut -Ml'. Rockefeller stuck to it, and though at lirst "we frequently had to take stock lo keep from going begging," yet i.i the end his couI lidence had been justified.

Ho next treats of the relation of the company to it* workpeople. He says:— The 00,000 men who are ul work constantly in the service of the company aiv kept busy year in and yea" out. The past year has been a time of great contraction, but the islandard has gone on with its plans unchecked, and the new works ui'.a building* have not been delayed on account of lack of capital or fear of bad times. It pays its workmen well, it cares for them when sick and pensions ihem when old. It has never had any important strikes, and it there is a;iy better function of business management than giving prolitablc work to employees year after year, in good times and bad. I don't

know what it is. lie exults ill the i'ael that the oil company has never been " watered." " It is a common thing to hear people say that tliis company iias crushed out its competitors. Only the uninformed could make such an assertion." Certainly he admits that "the Standard is always lighting to sell tile American product against the oil produced from tile great liehls of l'ussia, which struggles lor tlie trade of Kurupc. and tlie Burma oil. which largely all'ects the Indian market." In many lands they taught the people—the Chinese, for example—to burn oil bv making lamp* for tllcni. Hut every success in a, foreign land meant dollars brought to America. Speaking of industrial combinations. Mr. Rockefeller adheres to what lie has formerly advocated—Federal legislation to create and regulate corporations, or State legislation as nearly uniform as possible, to encourage, to supervise, but not to hamper combined industries.

J he old mail is as sanguine as a vontii as to the effect of these corporations on individual enterprise. He says:— "The great economic era we are entering will give splendid opportunity to the young mini of the future. One often hears the men of this i/.-w generalion say thai they do not have the chances that their fathers and grandfather-, had. Our comforts and opportunities are multiplied a thousandfold. 1 lift resources of our great land are now actually opening up and are scarcely touched: our home markets are vast, anil we have just begun to think of the foreign peoples wj can serve—the I people who are years behind us ill civilisation. In Hie East a ipiarter of the human race is just awakening. The men oi this generation are entering into a heritage which makes their lather's lives look poverty-stricken by comparison. lam naturally an optimist, and when it comes to a statement of what our people will accomplish in the future, I am unable ty express mv- j self with siillicicnf enthusiasm." * j ilr. iiockefcller resents the charge brought against American business in -n ol excessive greed, lie says "it is bv no means for ley alone that 1 lies',. aclivc-miiuled men labour- Ihe.v are engaged in a fascinating occupation. The zc>l of (he work is maintained by som .- tiling better than the mere accumulation of money, ami, as 1 think I have said elsewhere, the standards of business are high and are getting belter all Hie time." It is pleasant to lind that, a lifetime of accumulation lias left the old mans heart so lull of optimism.