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Updated: May 19, 2025
The United States Steel Company would have no greater and no less a monopoly of the steel business if it were organized with one-half of its present capitalization. The Standard Oil Company has a very conservative capitalization, and yet it is the most complete monopoly of any industrial corporation in this country.
When we consider that France is an armed camp, Germany and Austria countries of bristling bayonets, that three years at the most critical epoch of the boy's life are consumed in a camp exposed to all manner of temptations and dangers, at the very time when the youth should be mastering his trade or his profession, war seems the capitalization of all the possible follies and wastes.
The original capitalization was £1,000,000, it was afterwards increased to £9,000,000, but it is only a part of the stream of pounds sterling that has been poured into the country. In all the years of its existence the company has never paid a dividend. It is only since 1914 that the revenue has balanced expenditures. More than 40,000 shareholders have invested in the enterprise.
It is practically impossible for any one today to conceive of a world where great empires, populous cities, mills and factories and iron-works in their thousands, and employing their millions through their billions of capitalization, where the stock exchange and the great banking houses and the insurance companies and the department stores, the nation-wide trade unions and professional associations and educational foundations and religious corporations, do not play their predominant part.
And so it was that the Burnit-Trimmer Merchandise Corporation was incorporated at five hundred and sixty thousand dollars. It was considerably later when Bobby realized the significance of the fact that the subscribers to the additional capitalization consisted of Mr.
I'll bet it ain't onct in a dozen times an investor gets a square run for his white alley, at that." "There are crooks in every game." "Sure, but oil's so darned temptin' to a crook. All the suckers are shovin' money at a promoter. They don't ask his capitalization or investigate his field. Lots o' promoters would hate like Sam Hill to strike oil. If they did they'd have to take care of it.
These details we will deal with fully in succeeding articles, and therefore now need only pause to say that the basis of capitalization strikes us as wonderfully advantageous to the fortunate public who are asked to participate in its vast prospective prosperity. Our present object is to speak of its national and imperial aspects "
The gentry, who had no cash worth mention, were violently opposed to the capitalization of their properties, and were in favour of continuing as far as possible to work the soil in the old style.
They have escaped the criticism which has been directed against us, who with our old-fashioned and conservative notions have continued without such expansion of capitalization. There is nothing strange or miraculous in all this; it was all done through this natural law of trade development. It is what the Astors and many other large landholders did.
"What did father say about this?" he asked. "Thought it a brilliant idea," glibly returned Mr. Trimmer. "In fact, I think it was he who first suggested such a possibility, seeing very clearly the increased trade and the increased profits that would accrue from such an extension, which would, in fact, be simply the doubling of our already big stores without additional capitalization.
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