Last year the
best-liked rumour was that we were down in Wall Street hunting for
money. I did not bother to deny that. It takes too much time to deny
everything. Instead, we demonstrated that we did not need any money.
Since then I have heard nothing more about being financed by Wall
Street.
We are not against borrowing money and we are not against bankers. We
are against trying to make borrowed money take the place of work. We are
against the kind of banker who regards a business as a melon to be cut.
The thing is to keep money and borrowing and finance generally in their
proper place, and in order to do that one has to consider exactly for
what the money is needed and how it is going to be paid off.
Money is only a tool in business. It is just a part of the machinery.
You might as well borrow 100,000 lathes as $100,000 if the trouble is
inside your business. More lathes will not cure it; neither will more
money. Only heavier doses of brains and thought and wise courage can
cure. A business that misuses what it has will continue to misuse what
it can get.
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