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THE MUSIC TRADE REVIEW
REVIEW
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AUGUST
21,1915
EDITORIAL
F
EW concerns appreciate more fully the value of co-operation—
close communion between the sales and selling forces of
business—than the Hallet & Davis Piano Co. Their monthly and
annual meetings have helped to weld the entire organization into a
working unit that is producing splendid results in both the whole-
sale and retail fields.
At the tenth annual outing of the dealers and representatives
of the Hallet & Davis Co., of Greater New York and New Jersey,
held recently in Asbury Park, and reported in last week's Review,
C. C. Conway in his address got to the very heart of things when
he based his optimistic remarks regarding the future on this sen-
tence: "Brain service can be bought; lip service can be hired;
physical service can be contracted for, but heart service is the kind
you pay in the coin of appreciation, kindness and consideration.
Service is the true basis of all business and until you get the heart
throbs of your organization working with you and not just for you,
you lack one element that is of more importance than you perhaps
think."
He then pointed out that there is something of vastly greater
importance in this life than money, and proceeded to illustrate this
fact in some very gracious words regarding the Hallet & Davis
dealers, roadmen and employes generally who, through their con-
tribution of heart service, have brought and can bring their com-
pany to greater success.
Mr. Conway dwelt at length on the extraordinary opportunities.
that present themselves in the piano trade—the changed conditions
which have followed a period of depression and said: "We believe
it is time to encourage our dealers by telling them to turn their
backs against the hard times and depression of the past and turn
their faces toward the future, which means hard work, but better
work."
r
Mr. Conway then gave a very forceful illustration of improved
conditions—-the unprecedented crops for this year and the increased
amount of money in the savings- banks—$154,000,000 more than a
year ago—a total of $4,667,500,000—with other succinct but im-
pressive figures bearing upon the increase in the assets of the
building and loan associations, the earnings of the railroads, and
the fact that the United States has a billion dollar balance of trade
in its favor. A still more forceful fact in favor of the stability of
the piano industry is Mr. Conway's closing remark as follows:
"As long as there are children in the homes there will be pianos
sold." And so there will. It is time for all members of the trade
to be up and doing, to get out of the gloom into the sunlight of
optimism—of confidence in the business future of our country.
T
HE New York World says that the estimated wealth of the
country increased from $43,642,000,000 in 1880 to $88,517,-
000,000 in 1900, or by a trifle over 100 per cent, in twenty years.
The Census Bureau now gives out an estimate of $187,739,000,000
as of 1912, which shows an increase of 112 per cent, in only a dozen
years.
Relatively to population, the nation's increase in wealth is even
more striking. It amounted to $870 per capita in 1880 and to $1,165
in 1900, or an increase of 33 per cent, in twenty years. It now
(1912) amounts to $1,965, or an increase in twelve years of 70 per
cent. This is a rate which would much more than double the per
capita wealth in twenty years, instead of by only a third.
This is tangible wealth, and not wealth on paper. It is wealth
in land, in buildings, in live stock, in machinery, in merchandise,
and so on. It has nothing to do with stocks and bonds, which but
represent real wealth and tangible personal property. It is largely
wealth employed in the production of wealth.
Extravagant and wasteful and careless against destruction by
fire and otherwise as is the American nation, the rapidity of its
growth in material well-being is yet the wonder of the world. Its
natural resources and the inventive genius and industrial energy of
its people still remain unsurpassed and as promising as ever for
general wealth accumulation.. But the greater promise to this end
now lies not in reckless exploitation, but in a greater conservation
of these gifts of nature and what is wrought out of them.
I
N the development of export trade Germany has found co-
operation among exporters an important factor. In this move
the German Government lias been most sympathetic, and has aided
this movement in every way. Leading exporters in this country
have long proclaimed that one of the greatest drawbacks to Ameri-
can manufacturers engaging more enthusiastically in export busi-
ness is due to the fact that individually they could do but little,
while collectively much might be accomplished.
As is known, the United States Government has not looked
favorably on manufacturers joining forces for any purpose. Any-
thing in this form is looked upon as a "trust," and invites tin 1
activity of the Department of Justice.
In a recent address, President Wilson pointed out the im-
portance of manufacturers acting in unison in the development of
export trade, but he failed to say how this could be done without
breaking the law. In this connection it is interesting to note that
William S. Kies, of the National City Bank of New York, has
recently outlined a plan of co-operation among American manu-
facturers for mutual benefit in obtaining export trade. He said
this plan would operate to the general advantage of all manufac-
turers and still not be in violation of the Sherman anti-trust law
when interpreted "according to the rule of reason."
"Let there be organized," said Mr. Kies, "along the laws of
one of the States a corporation to be known, we will say, as Blank
Manufacturers' Export Corporation, or the Blank Producers' Export
Association, or some similar title, the organization to be incorpo-
rated with sufficient capital stock to permit all of the members of
the industry throughout the country who so desire to become mem-
bers upon exactly the same terms.
"Each producer desiring membership should subscribe to a
definite amount of stock, his subscription being payab'e in equal
instalments over a term of years. This corporation, properly or-
ganized, could have a comprehensive grasp of the world's markets
and as an agent sell for individual firms on commission, all over
asked price to be considered profit, which with the commissions,
etc., over expenses could be divided equally as dividends for mem-
bers."
These are the views of a practical business man and should
receive consideration. Up to the present time practically nothing
has been done to promote a larger export business with foreign
countries, largely due to lack of co-operation among exporters.