Dazzling as is this personal success, its really important aspects are the things for which it stands.

The American automobile has had its wildcat days; for the larger part, however, its leaders have paid little attention to Wall Street, but have limited their activities exclusively to manufacturing.
Moreover, the automobile illustrates more completely than any other industry the technical qualities that so largely explain our industrial progress.

Above all, American manufacturing has developed three characteristics.

These are quantity production, standardization, and the use of labor-saving machinery.

It is because Ford and other manufacturers adapted these principles to making the automobile that the American motor industry has reached such gigantic proportions.
A few years ago an English manufacturer, seeking the explanation of America's ability to produce an excellent car so cheaply, made an interesting experiment.