great variety of different businesses.  And perhaps of even more importance is the competition in foreign lands.  The Standard is always fighting to sell the American product against the oil produced from the great fields of Russia, which struggles for the trade of Europe, and the Burma oil, which largely affects the market in India.  In all these various countries we are met with tariffs which are raised against us, local prejudices, and strange customs.  In many countries we had to teach the people—­the Chinese, for example—­to burn oil by making lamps for them; we packed the oil to be carried by camels or on the backs of runners in the most remote portions of the world; we adapted the trade to the needs of strange folk.  Every time we succeeded in a foreign land, it meant dollars brought to this country, and every time we failed, it was a loss to our nation and its workmen.

One of our greatest helpers has been the State Department in Washington.  Our ambassadors and ministers and consuls have aided to push our way into new markets to the utmost corners of the world.

I think I can speak thus frankly and enthusiastically because the working out of many of these great plans has developed largely since I retired from the business fourteen years ago.

The Standard has not now, and never did have a royal road to supremacy, nor is its success due to any one man, but to the multitude of able men who are working together.  If the present managers of the company were to relax efforts, allow the quality of their product to degenerate, or treat their customers badly, how long would their business last?  About as long as any other neglected business.  To read some of the accounts of the affairs of the company, one would think that it had such a hold on the oil trade that the directors did little but come together and declare dividends.  It is a pleasure for me to take this opportunity to pay tribute to the work these men are doing, not only for the company they serve, but for the foreign trade of our country; for more than half of all the product that the company makes is sold outside of the United States.  If, in place of these directors, the business were taken over and run by anyone but experts, I would sell my interest for any price I could get.  To succeed in a business requires the best and most earnest men to manage it, and the best men rise to the top.  Of its origin and early plans I will speak later.

THE MODERN CORPORATION

Beyond question there is a suspicion of corporations.  There may be reason for such suspicion very often; for a corporation may be moral or immoral, just as a man may be moral or the reverse; but it is folly to condemn all corporations because some are bad, or even to be unduly suspicious of all, because some are bad.  But the corporation in form and character has come to stay—­that is a thing that may be depended upon.  Even small firms are becoming corporations, because it is a convenient form of partnership.