Letter from Arthur Stayner, 24 May 1889
Presidents Woodruff, Cannon, & Smith
Dear Brethren
Will you kindly permit me
to lay before you some reflections upon a subject which
I feel assured will be of interest to you:
I advance it as an undeniable proposition that
there are two separate branches of the Financial power each
possessing marked and widely different characteristics and
each requiring correspondingly different characters to evolve
them. One of these branches is the producing and man-
ufacturing, the other one is the trading and speculative.
A very little experience and reflection will enable one to de-
termine the relative qualifications requisite for the represen-
tatives of the two branc[h]es. While each should possess energy
and vim, and be thoroughly imbued with the spirit of
his work, the one may be of slower thought and tempera-
ment than the other but must possess that dogged per-
severance and invincible pertinacity of purpose that knows
no surrender; he must also possess to a marked degree
the virtue of patience which will enable him to watch the
slow developing of experiment and which, if he does not
reach success at one trial, will inspire him to look forward
