There are two fundamentally different kinds of businessmen. One kind meets trade recessions by keeping his prices high, letting his goods gather dust on the shelves, laying off his employes, arid concentrating his efforts on hoping business will come back. The other takes the risk of cutting his prices, and often succeeds in wooing back vanishing trade, while he keeps his employes on the job, his goods in circulation, his ledgers in the black. To the first school the Eastern railroads of the U. S. (except for Daniel Willard's Baltimore & Ohio) have largely adhered through Depression I and...
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