"I had trouble at first, in the early 1900s, in selling Mr. Leland our roller bearings. He then taught me the need for greater accuracy in our products to meet the exacting standards of interchangeable parts. Mr. Leland came to the industry with a mature experience in general engineering and in gasoline engines, which he had long made for boats. One of his specialties was precision metalwork, which went back to his experience in toolmaking for a federal arsenal during the Civil War, and which he afterward developed in the Brown and Sharpe Company, machine-tool makers of Providence, Rhode Island. It has been called to my attention It has been called to my attention that Eli Whitney, long before, had started the development of interchangeable parts, a fact which suggests a line of descent from Whitney to Leland to the automobile industry."

“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.”