"First let us ask whether our wealth-creating agencies, particular that of industry, are to be based upon private enterprise of policy management. I can not see how any intelligent observer can have any possible faith in the capacity of political management to provide either stability or progress if it should set out to operate the agencies of wealth creation, particularly industry. It is my firm conviction that any form of 'Government Regulation of Business' is bound to result in an ever-increasing interference with the broad exercise of initiative - the very foundation of the American system. That is the natural evolution of bureaucracy. If that be so, might not the ultimate logical result be the necessity for the socialization of industry through the break down of the profit system induced by the accumulative effect of the ever-increasing political management. We do not need to go far afield to see definite evidences of that possibility"

“My father was in the wholesale tea, coffee, and cigar business, with a firm called Bennett-Sloan and Company. In 1885 he moved the business to New York City, on West Broadway, and from the age of ten I grew up in Brooklyn. I am told I still have the accent. My father's father was a schoolteacher. My mother's father was a Methodist minister. My parents had five children, of whom I am the oldest. There is my sister, Mrs. Katharine Sloan Pratt, now a widow. There are my three brothers — Clifford, who was in the advertising business; Harold, a college professor; and Raymond, the youngest, who is a professor, writer, and expert on hospital administration. I think we have all had in common a capability for being dedicated to our respective interests.”

“Some see danger in bigness. They fear the concentration of economic power that it brings with it. That is in a degree true. It simply means, however, that industrial management must expand its horizons of responsibility. It must recognize that it can no longer confine its activities to the mere production of goods and services. It must consider the impact of its operation on the economy as a whole in relation to the social and economic welfare of the entire community. For years I have preached this philosophy. Those charged with great industrial responsibility must become industrial statesmen.”

“Naturally. I like to see General Motors stock register a good price on the market, but that is just a matter of pride... What has counted with me is the true value of the property as a business return on investment.”

“There has to be this pioneer, the individual who has the courage, the ambition to overcome the obstacles that always develop when one tries to do something worthwhile, especially when it is new and different.”

“You of course appreciate that this industry of ours the is today the greatest in the world. Three or four years ago it passed, in volume, steel and steel products, the next largest industry. This means, expressed otherwise, that upon its prosperity depends the prosperity of many millions of our citizens and the degree to which it has become stabilized in turn has a tremendous influence on the stabilization of industry as a whole, and therefore on the prosperity and happiness of still many more of our citizens. Directly and indirectly, this industry distributes hundreds of millions of dollars annually to those who are connected with it, in one way or another, as workers. It also distributes hundreds of millions of dollars in the aggregate to those who have invested in its securities. The purchasing power of this total aggregation, as you must appreciate, is tremendous.”

“The transformation of the automobile market was essentially complete in 1929. If Mr. Ford, in that pivotal year in the modern economy, still held stubbornly to his old concept in his new Model A, he was counterbalanced by Mr. Chrysler, who had come up from nowhere with tremendous vitality and with a market policy similar to General Motors'. The fact that Mr. Ford built nearly two million of the five million U.S.-produced cars and trucks sold that year was only incidental from the long-term point of view. it was a splurge, not the sign of a trend.”