New York Paper - A Decade of Progress in Reducing Costs (Presidential Address at New York)

For twenty years it has been my work to watch and record progress in both the technical and the commercial branches of mining engineering in the wide sense in which it is represented by our Institute. While you who have been actively engaged in our profession have made history, a few of us have attempted to be the historians and have been kept keenly on the qui vive to follow the developments of so broad a field. One so employed may be pardoned if he ask you to pause for the unusual purpose of looking backward, that you may measure what you and others have done, and that the younger men may gather inspiration from the work accomplished by their elders and their predecessors. It is not so long since that the commercial management dominated our industries. Bred in the school of science, which seeks its reward in establishing the truth, our engineers were sometimes indifferent to trade conditions and requirements. Much of that feeling has disappeared, and the engineer recognizes that it is his mission to apply the achievements of science to a useful commercial end. On the other hand, business men now understand that the utilization of our natural resources and the production of articles for consumption is impossible without the intervention of the engineer. They must co-operate, unless, indeed, the two functions are combined in one man —a rare but powerful combination. Now the final measure of success of both is the cost sheet on the one hand and the expansion of markets on the other, so closely interwoven, so mutually interdependent. There is one cardinal feature, however, which characterizes the engineer's work—namely, the permanence of his achievements. Every improvement, particularly when it has been recorded in such lasting form as a paper in the Transactions of our societies—