But he rejected the earliest offers of capital because the millionaires would not agree to his terms.

They were looking for high prices and quick profits, while Ford's plans were for low prices, large sales, and use of profits to extend the business and reduce the cost of his machine.

Henry Ford's greatness as a manufacturer consists in the tenacity with which he has clung to this conception.

Contrary to general belief in the automobile industry he maintained that a high sale price was not necessary for large profits; indeed he declared that the lower the price, the larger the net earnings would be.

Nor did he believe that low wages meant prosperity.