Fifty years in Wall Street

by Henry Clews

Whenever you see a chance to help a fellow-man who is not as well equipped as you are, give him a lift up. If you do so, you may forget it, but he never will, and you will secure a friend who will be looking for a chance to do you a good turn.

An old clergyman used to preach that true religion consisted in doing something good each day, so that when one went to bed at night, he could feel that the world was a little better, or some one a little happier, because he had lived that day.

Chemistry is going to play the important part in the next twenty-five years that electricity has in the past quarter of a century. Fortune awaits any man who can make use of waste material. Millions of dollars’ worth of this is thrown away every year because the mind of man has not, as yet, been able to solve the problem of utilizing it. Students are now at work to this end and who can tell but one of you may be the man who will play an important part in this great work of discovering new sources of wealth and progress. If so, he will find a bigger gold mine than Wall Street.

Railroad magnates are on the watch for improvements and devices of any kind that will tend toward saving time, increasing facilities, lessening liability of accident, or saving in cost of construction or equipment. Here is a broad field for action and for fertile minds to work in.

Copper metal is in such demand that the price has recently been higher than in a generation, namely, twenty-six cents a pound, and some cheaper metal may be found to possess qualities that will allow it to take the place of copper in a degree.

Surgeons and physicians now perform operations and effect cures that would have been considered miracles in my younger days, and still we find each year that they have much to learn. It is possible that I am now addressing some youthful savant, who will startle the world in the distant future by still more miraculous skill.

Wherever you go, whatever you do, keep your eye on the star of Hope. Every man has his place in the world if he can only find it. Opportunity knocks at every man’s door at some time during his early life. Look sharp and secure it when it knocks at yours, and grab it before it flies.

But, to all I would advise that when you have found occupation, whether it is in the professions, or not, strive to please. Don’t expect to sit in high places at once. Remember that most of you are in the junior class and can only graduate to a higher class by merit. Study well your surroundings and what is ahead of you. Carefully consider what may await you. If you see no evidence of a position worthy of your hopes, do not hesitate to make a change. It is better to change several times while you are young than to waste your time by remaining where you cannot expect to achieve success.

One of the fundamental principles of business is that civility costs nothing and always pays good dividends, both in and out of Wall Street. Very often the temptation will come to you in dealing with a nervous or cranky customer or client, to give vent to your wrath or impatience. My advice is don’t. That is also Punch’s advice to those about to marry. To succeed in holding and pleasing such a customer is a high accomplishment, and sure to attract attention.

The Almighty has endowed every man with two important allies, namely, courage and conscience. The latter can be blunted if not heeded and an elastic conscience is worse than a wooden leg. Be cautious not to enter into any deal or occupation when your conscience warns you that you are treading on dangerous ground; but, having made up your mind that you are in the right, press forward with all the energy that is in you. If you do not succeed, have the courage to rise and try again and renew the struggle. Nearly every man who has made a great success in business life has, in his earlier years, suffered reverses. These failures have been lessons that have taught him the way to win. You may often be temporarily discouraged by seeing success come to the dishonest and unworthy, but remember that such cannot command the respect of their fellows. There is more in life than “filthy lucre,” although Wall Street prizes it immensely. A contented mind is more to be desired than great riches, and, if you are poor, be independently poor. Andrew Carnegie says that to die rich is to die disgraced, so guard against that.