te, and it came down only when the
supply of money grew more plentiful.

I have usually found that important alterations in public opinion in
regard to business matters have been of slow growth along the line of
proved economic theory--very rarely have improvements in these
relationships come about through hastily devised legislation.

One can hardly realize how difficult it was to get capital for active
business enterprises at that time. In the country farther west much
higher rates were paid, which applied usually to personal loans on
which a business risk was run, but it shows how different the
conditions for young business men were then than now.

A NIMBLE BORROWER

Speaking of borrowing at the banks reminds me of one of the most
strenuous financial efforts I ever made. We had to raise the money to
accept an offer for a large business. It required many hundreds of
thousands of dollars--and in cash--securities would not answer. I
received the message at about noon and had to get off on the
three-o'clock train. I drove from bank to bank, asking each president
or cashier, whomever I could find first, to get ready for me all the
funds he could possibly lay hands on. I told them I would be back to
get the money later. I rounded up all of our banks in the city, and
made a second journey to get the money, and kept going until I secured
the necessary amount. With this I was off on the three-o'clock train,
and closed the transaction. In these early days I was a good deal of
a traveller, visiting our plants, making new connections, seeing
people, arranging plans to extend our business--and it often called
for very rapid work.

RAISING CHURCH FUNDS

When I was but seventeen or eighteen I was elected as a trustee in the
church. It was a mission branch, and occasionally I had to hear
members who belonged to the main body speak of the mission as though
it were not quite so good as the big mother church. This strengthened
our resolve to show them that we could paddle our own canoe.

Our first church was not a very grand affair, and there was a mortgage
of $2,000 on it which had been a dispiriting influence for years.

The holder of the mortgage had long demanded that he should be paid,
but somehow even the interest was barely kept up, and the creditor
finally threatened to sell us out. As it happened, the money had been
lent by a deacon in the church, but notwithstanding this fact, he felt
that he should have his mon