American born English businessman (1858–1947)
(January 11, 1858–May 8, 1947) was an American-British retail magnate who founded the London-based department store after retiring as 's partner, opening and selling Harry G. Selfridge and Co. in Chicago in only 2 months, and moving to England. His 20-year leadership of Selfridges led to his becoming one of the most respected and wealthy retail magnates in the United Kingdom. He was known as the 'Earl of Oxford Street'.
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[T]he artist sells the work of his brush and in this he is a merchant. The writer sells to any who will buy, let his ideas be what they will. The teacher sells his knowledge of books—often in too low a market—to those who would have this knowledge passed on to the young.
The doctor... too is a merchant. His stock-in-trade is his intimate knowledge of the physical man and his skill to prevent or remove disabilities. ...The lawyer sometimes knows the laws of the land and sometimes does not, but he sells his legal language, often accompanied by common sense, to the multitude who have not yet learned that a contentious nature may squander quite as successfully as the spendthrift. The statesman sells his knowledge of men and affairs, and the spoken or written exposition of his principles of Government; and he receives in return the satisfaction of doing what he can for his nation, and occasionally wins as well a niche in its temple of fame.
The man possessing many lands, he especially would be a merchant... and sell, but his is a merchandise which too often nowadays waits in vain for the buyer. The preacher, the lecturer, the actor, the estate agent, the farmer, the employé, all, all are merchants, all have something to dispose of at a profit to themselves, and the dignity of the business is decided by the manner in which they conduct the sale.
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Where one , Cosimo de Medici, de la Pole or Gresham strove for success we have now literally thousands of keen, clever men as fearless, as progressive and as determined as they. Money not only for the few but for the many is the prize which is sought, and for this prize is the race now perhaps swifter, the battle keener, the game bigger than has been any race, battle, or game since the world began; and commerce in its broader sense is the medium through which this prize is won.
No one has more than a given number of minutes... in which he can work, and no matter how great his ability he will soon find his limitations. If, however, he uses that ability in finding and teaching others as capable as himself, or in certain details even more so, the limits to his sphere of operations are hard to set.
[A] hundred years ago the selling of goods at retail had settled into a system of small shops, each confining itself to a particular class of merchandise. The comprehensive trade of the sixteenth century had been divided into small sections, and the smaller the section the smaller was the study, the amount of experience and the capital required. The retail trade of shop-keeping became in consequence a petty and insignificant undertaking, necessitating little risk, little profit, and little ability, and so generally was this fact accepted that the name of shop-keeper became a term of reproach and of disrespect.
The merchant sends the buyer far afield with instructions to invest... in... staples or novelties, as he thinks will interest the home public. He risks his money and a certain amount of prestige upon the judgment of the buyer... Much merchandise begins to depreciate from the day it arrives; practically none increases in value. The buyer then must learn to buy enough and not too much; to buy what will give satisfaction..; to pay not too much for what he buys; to know qualities and values... All this carries with it a certain speculative risk, but so certain does his judgment become, that the house conducted on scientific lines can estimate to a fraction of one per cent.
A thousand departments of mental and physical activity foster and in turn are fostered by its achievement. People must be governed, and there must be those who govern. Laws must be made, and there must be those who study, and those who execute these laws. People must be taught, and there must be teachers. All these and the Church, the newspaper, the theatre, the fine arts are essential to the completeness of the State, to the happiness and safety of its people; but Commerce is the main stem, or trunk, where they are all branches, supplied with the sap of its far-reaching wealth. It is as necessary to the existence of any nation as blood to the physical man. That country in which trade flourishes is accounted happy, while that in which Commerce droops provokes shaking of heads and prophecies of downfall.
In France the height of the structures is limited to five or six storeys: in America stores frequently tower up fifteen storeys or more, and with rapid smooth-running lifts one floor is as good as another. These buildings measure their floor area by the acre, and twenty, thirty, or even forty acres of floor space—or even two million square feet—are not extraordinary, while it is quite likely that before the ink on these pages has become dry some great merchant with imagination, courage and ambition will announce his purpose of erecting a structure perhaps twice as large as any now in existence. If he does so it will not be for the sake of having the biggest thing on earth but because more space will allow him to set the word "perfection" further out in the hitherto unexplored fields of endeavour.
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To write on Commerce or Trade and do the subject justice would require more volumes than any library could hold, and involve more detail than any mind could grasp. It would be a history in extenso of the world's people from the beginning of time. For we are all merchants, and all races of men have been merchants in some form or another.