Cyrus Hall McCormick: American Business Leader

Extract

If a man's ability is to be rated according to the amount of money he makes, Cyrus H. McCormick was one of America's ablest business leaders in the nineteenth century. A more discriminating view of his career would necessitate some important qualifications in such an estimate. McCormick's personal achievements—both as inventor and as a business man—were truly remarkable in the period before about 1860, and during the whole course of his life he demonstrated rare talents and performed prodigious deeds. But in his later years he made serious errors in judgment, failed to adopt well-rounded policies, and pursued business methods which were fundamentally poor. While his managerial successes and financial profits were very notable, his record as a whole does not reflect the sober and well-balanced judgment which is essential to the first-class business mind.