“I made it a point that all goods should be exactly what they were represented to be. It was a rule of the house that an exact scrutiny of the quality of all goods purchased should be maintained, and that nothing was to induce the house to place upon the market any line of goods at a shade of variation from their real value. Every article sold must be regarded as warranted, and
EVERY PURCHASER MUST BE ENABLED TO FEEL SECURE.”
“Did you suffer any losses or reverses during your career?”
“No loss except by the fire of 1871. It swept away everything,—about three and a half millions. We were, of course, protected by insurance, which would have been sufficient against any ordinary calamity of the kind. But the disaster was so sweeping that some of the companies which had insured our property were blotted out, and a long time passed before our claims against others were settled. We managed, however, to start again. There were no buildings of brick or stone left standing, but there were some great shells of horse-car barns at State and Twentieth streets which were not burned, and I hired those. We put up signs announcing that we would continue business uninterruptedly, and then rushed the work of fitting things up and getting in the stock.”
“Did the panic of 1873 affect your business?”
“Not at all. We did not have any debts.”
“May I ask, Mr. Fields, what you consider to have been
THE TURNING POINT
in your career,—the point after which there was no more danger?”
“Saving the first five thousand dollars I ever had, when I might just as well have spent the moderate salary I made. Possession of that sum, once I had it, gave me the ability to meet opportunities. That I consider the turning-point.”