Charles M. Schwab
Charles M. Schwab
Charles Michael Schwabwas an American steel magnate. Under his leadership, Bethlehem Steel became the second largest steel maker in the United States, and one of the most important heavy manufacturers in the world...
NationalityAmerican
ProfessionBusinessman
Date of Birth18 February 1862
CountryUnited States of America
became study works
I became interested, through reading the works of some novelist, in Egyptology and made a study of the pyramids. It was just a hobby, but I had a desire to know all I could about everything I could.
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A concern that produces its own raw materials, and works them up through the various processes until it delivers the manufactured product in the domestic or foreign market, can work on a narrower margin all around, and yet do full justice to its stockholders and employees.
adopted bethlehem business efforts managers partners san share united works
In our works at Bethlehem and San Francisco, and all over the United States, I adopted this system: I pay the managers practically no salary. I make them partners in the business, only I don't let them share in the efforts of any other man.
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The Homestead plant, taken as a whole, is complete and finished in every department. There is nothing of any consequence to be desired. It is the first time I have ever been connected with any works that I could say it is finished and complete and to my entire satisfaction.
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Our efforts must be bent in the direction of convincing the great mass of working people of this country of the necessity of our winning and retaining our place in business and commerce. That place can be won only through the workers' own efforts and through their own efficiency.
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The supreme need of the world is peace and good will among men. It must be peace founded upon justice and fairness, the righting of past wrong, and the securing of the future as far as possible against the evils of the past.
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Concentrate and think upon the problem in mind until a satisfactory conclusion is reached, and then finally go ahead. If you have made a mistake, all right. Never find fault with a man because he has made a mistake. It is only a fool that makes the same mistake the second time.
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Did you ever stop to think that a great man in life who has won great acclaim and great reputation is the very man who is willing to share and give the honor to others in the doing of things that made him great?
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The aristocracy in the future is not one of wealth or university education, but the aristocracy of the men who have done something for themselves and their fellow men.
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Here I am, a not over-good business man, a second-rate engineer. I can make poor mechanical drawings. I play the piano after a fashion. In fact, I am one of those proverbial Jack-of-all-trades who are usually failures. Why I am not, I can't tell you.
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Fundamentally, the basis of all modern progress is the efficiency of labor. And the only sure road to restored prosperity is through the thrift and hard work of our people as a whole.
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Men make opportunity. Every great industrial achievement has been the result of individual effort - the practical development of a dream in the mind of an individual.
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Let us suppose you become a craneman. Suppose you become a clerk in a lawyer's office. Give the best that is in you. Let nothing stand in the way of your going on.
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I have always believed that the aristocracy of any country should be the men who have succeeded - the men who have aided in upbuilding their country - the men who have contributed to the efficiency and happiness of their fellow men.