Project Gutenberg's How to Succeed as an Inventor, by Goodwin B. Smith This eBook is for the use of anyone anywhere at no cost and with almost no restrictions whatsoever. You may copy it, give it away or re-use it under the terms of the Project Gutenberg License included with this eBook or online at www.gutenberg.org/license Title: How to Succeed as an Inventor Showing the Wonderful Possibilities in the Field of Invention; &c. Author: Goodwin B. Smith Release Date: August 5, 2014 [EBook #46512] Language: English Character set encoding: UTF-8 *** START OF THIS PROJECT GUTENBERG EBOOK HOW TO SUCCEED AS AN INVENTOR *** Produced by Chris Curnow and the Online Distributed Proofreading Team at http://www.pgdp.net (This file was produced from images generously made available by The Internet Archive) cover back UNITED STATES PATENT OFFICE, WASHINGTON, D.C. UNITED STATES PATENT OFFICE, WASHINGTON, D.C. HOW TO SUCCEED AS AN INVENTOR SHOWING THE WONDERFUL POSSIBILITIES IN THE FIELD OF INVENTION; THE DANGERS TO BE AVOIDED; THE INVENTIONS NEEDED; HOW TO PERFECT AND DEVELOP NEW IDEAS TO THE MONEY MAKING STAGE ∴ ∴ ∴ ∴ ∴ ∴ ∴ ∴ BY GOODWIN B. SMITH Registered Attorney, United States Patent Office, and Officially Connected with a Number of Industrial Enterprises Founded on United States Patents PHILADELPHIA, U.S.A. INVENTORS AND INVESTORS CORPORATION 1909 Copyright, 1909, by Goodwin B. Smith. All Rights Reserved. TABLE OF CONTENTS PAGE. Chapter I. Looking Forward 11 Chapter II. Looking Backward 14 Chapter III. Patents the Greatest Source of Wealth 21 Chapter IV. Successful Inventors 22 Chapter V. Field of Invention 27 Chapter VI. Growth of the Field of Invention 32 Chapter VII. Necessary Steps 38 Chapter VIII. Sounding the Market 48 Chapter IX. Practical Development 49 Chapter X. Lower Cost—Superior Merit 50 Chapter XI. Application for Patents, Etc. Picture of U.S. Patent Office. 51 Chapter XII. Marketing 54 Chapter XIII. Discouragements and Dangers 56 Chapter XIV. Selling Patents 60 Chapter XV. Conclusion 62 Chapter XVI. Statistics of the Countries of the World 63 Chapter XVII. Mechanical Movements and Explanation Thereof 65 Man's Value to Society Failure is want of knowledge; success is knowing how. Wealth is not in things of iron, wood and stone. WEALTH is the brain that organizes the metal. Pig iron is worth $20 per ton; Made into horse shoes, $90; into knife blades, $200; into watch springs, $1000; that is, raw iron, $20, brain power, $980.—Newell Dwight Hillis. Dedicated to the Grand Army of American Inventors "How to Succeed as an Inventor" T PREFACE he author of this book, after a number of years' experience in Patent Causes, is constrained to enter a strong protest against the enormous waste and loss attendant on methods at present pursued in regard to patents. This loss and waste is largely due to a lack of business knowledge necessary to properly market and develop inventions. History shows that enormous profits can be earned from good, strong patents. A careful perusal of the following pages will point out some of the dangers to be avoided and the safe and reasonable course to be pursued. Invention is a matter that requires the deepest study, and should be approached, not in a haphazard, hit-or-miss fashion, but rather in a receptive, studious, analytical manner. While the average individual is fond of giving advice, no one enjoys accepting it. There is no one, however, who so needs competent, unprejudiced advice as the inventor. A genius is more or less prejudiced in certain directions, and it has been found that the prejudice oftentimes runs against the acceptance of well-intentioned criticism. "Our judgment is like our watches,—none go just alike, but each believes his own." It is to be hoped that this volume will be the means of saving, as well as earning, money for the hosts of deserving American geniuses. The Author. Philadelphia, March, 1909. CHAPTER I. LOOKING FORWARD "Patience and the investment of time and labor for future results are essential factors in every inventor's success." The field of invention is closed to no one. The studious mechanic may design and improve on the machine he operates. The day laborer, if dissatisfied with his lot, may devise means for lessening the toil of his class, and largely increase his earning capacity. The busy housewife, not content with the drudgery incident to her household cares, may devise a means or article which will lighten her task, and prove a blessing to her sisters. The plodding clerk, without an iota of mechanical knowledge, may perfect a system or an office appliance which will prove of vast benefit to himself and his fellows. The scientist may discover new forces and make new applications of old principles which will make the world marvel,—and so on through the whole category of crafts, occupations and professions. If one of the old Kings of Israel, centuries ago, voiced the sentiment that there was nothing new under the sun, do we not possess, at the present time, a similar mental attitude, and are we not apt to say with him that there appears to be "nothing new under the sun"? Civilization begets new needs and wants; opportunities for new invention are multiplying at a tremendous rate. In other words, where an inventor, two centuries ago, would have had one hundred chances to "make good," today the chances are multiplied many thousand-fold. No avenue of business can open up the possibilities of such enormous honors and fabulous money returns as a real invention which is in universal demand. The discoveries of the past form a record which is not only glorious, but points the man of genius of today in an unswerving manner to the possibilities which the future holds, and which are vastly greater than anything which has gone before. Each age finds the people convinced that human ingenuity has reached the summit of achievement, but the future will find forces, mechanical principles and combinations which will excite wonder, and prove to be of incalculable benefit to mankind. Our old friend Darius Green and his flying machine, that we heard about when we were children, was not as great a fool as he was imputed to be. Witness at the present time the marvelous results attained by inventors with air ships. We are proud of Wilbur and Orville Wright, who at this writing have just broken all records for Aeroplanes, or "machines heavier than air." It seems that in five or ten years from now the navigation of the air will be a problem perfectly solved. (Since writing the above, on Thursday, September 17th, Orville Wright, at Fort Myer, Va., met with an accident to his machine, which resulted in the death of Lieutenant Selfridge, of the U.S. Army, and severe injuries to the inventor. The accident is said to have been due to the breaking of one of the propellers.) When you think that the first locomotives that were invented were considered wonders if they made a speed of eight to ten miles per hour, the chances are that within the next few years we will have airships going through space at incredible rates of speed. We might also, at this time, refer to the experiments of Count Zeppelin and Santos-Dumont, and the American, Professor Baldwin, in "dirigible balloons." This type of airships will undoubtedly be superseded by the "Aeroplane," or the "Helicopter." The principal inventors in this line are Henry Farman, the French inventor, and Delagrange, the German. Wright Brothers hold the world's record, at this time. Little did Murdock (who erected, in 1792, while an engineer in Cornwall, England, a little gasometer which produced gas enough to light his house and office) think that in the year 1908 no house would be considered as modern unless it was fully equipped with the gas for lighting and heating which he discovered and brought to practical use. It is also said that "while Murdock resided in Cornwall he made gas from every substance he could think of, and had bladders filled with it, with which, and his little steam carriage running on the road, he used to astonish the people." No one is astonished at "little steam carriages," or, in other words, automobiles, nowadays, one hundred and sixteen years later. Our grandparents, when they were young people, imagined that they were living in the "Golden Age," and yet we today would consider their lack of what we nowadays consider positive necessities a mighty primitive and inconvenient manner in which to live. When the "wisest man," centuries ago, is chronicled as saying, "There is nothing new under the sun," they lived in tents, rode camels, fought with bows and arrows, sling shots and battering rams! While the Tower of Babel was possibly the first "skyscraper," it did not contain express elevators, hot and cold water, telephones, call boxes, yale locks, granolithic floors, fire escapes, transom lifts, automatic sprinklers, stationary wash stands, water closets, steam or hot water heat, electric and gas lights, push buttons, sash weights, and so on ad infinitum. So you can readily appreciate the marvelous strides the human race is making in the way of material development, and all, or nearly all of which has been due to the fertile brain and nimble wit of the inventors! Who will have the temerity to say when and where this development will stop, when Solomon, centuries ago, thought they had reached the limit? What will be the next wonderful invention? For instance, the perfected telephote? You, by stepping into a cabinet in Philadelphia, could have your photograph taken and shown in Boston, all by and through an electric wire! The Telephote may transmit light and color as the Telephone does sound; why not a combination of the two, so you can see your friend perfectly when you talk to him on the 'phone? Our grandparents thought they were as comfortable as possible, and they were, because they did not know any better. Do we know better? One hundred years from now, possibly, our great, great-grandchildren will consider us as having lived in the "stone age." The field of invention has no bars up,—you, all of us, are free to enter. "The important thing in life is to have a great aim, and to possess the aptitude and perseverance to attain it." CHAPTER II. LOOKING BACKWARD "Intelligent study and the application of unremitting effort to a definite purpose are the factors that overcome obstacles." Here follows a list of the principal inventions chronologically arranged, with the names and nationalities of their inventors. Year. Name of Invention. Name of Inventor. Nationality. 1620 Spirally grooved rifle barrel Blaew German. 1643 Barometer Torricelli Italian. 1660 Discovery of Electrical Phenomena William Gilbert English. 1663 Steam engine Thos. Newcomen English. 1690 Steam engine with piston Denis Papin French. 1702 First practical application of steam engine Thos. Savory English. 1709 Thermometer Fahrenheit Danzig. 1725 Franklin printing press Benj. Franklin U.S. 1731 Stereotyping William Ged Scotch. 1733 Weaving flying shuttle John Kay English. 1745 Leyden Jar Kleist German. 1752 Lightning conductor Benj. Franklin U.S. 1763 Spinning jenny Jos. Hargreaves English. 1767 Piano England. 1775 Cut nails Jere. Wilkinson U.S. 1777 Circular wood saw Miller English. 1782 Steam engine Jas. Watt Scotch. 1783 Balloon inflated with gas Montgolfier French. 1784 Puddling iron Henry Cort English. 1784 Cast iron plow Jas. Small Scotch. 1786 Steamboat John Fitch U.S. 1787 Steam road wagon, first automobile Oliver Evans U.S. 1788 Threshing machine And. Meikle English. 1791 Wood planer Sam'l Bentham English. 1794 Cotton gin Eli Whitney U.S. 1800 Electric battery Volta Italian. 1801 Fire-proof safe Richard Scott English. 1803 Steel pen Wise English. 1804 Malleable iron castings Lucas English. 1808 Band wood saw Newberry English. 1808 First sea-going steamboat John Stephens U.S. 1810 Revolving cylinder printing press Fred'k Koenig German. 1811 Breech-loading shot gun Thornton & Hall U.S. 1814 First locomotive, U.S Geo. Stephenson English. 1815 Miner safety lamp Sir Humphry Davy English. 1815 Gas meter Clegg English. 1823 Discovery of water gas Ibbetson English. 1825 Portland cement Aspdim English. 1827 Friction matches John Walker U.S. 1828 Hot blast for iron furnaces Neilson Scotch. 1829 Washington printing press Sam'l Rust U.S. 1831 Chloroform Guthrie Scotch. 1832 Electric telegraph Prof. Morse U.S. 1832 Rotary electric motor Sturgeon English. 1832 "Old Iron Sides" locomotive Baldwin U.S. 1833 Steam whistle Geo. Stephenson English. 1834 Reaper Cyrus H. McCormick U.S. 1834 Carbolic acid Runge German. 1835 Horse-shoe machine Burden U.S. 1836 Acetylene gas Davy English. 1836 Revolver Sam'l Colt U.S. 1836 Screw propeller for steam navigation John Erickson U.S. 1837 Galvanizing iron Craufurd English. 1839 Babbitt metal Isaac Babbit U.S. 1839 Vulcanizing rubber Goodyear U.S. 1839 Daguerreotype Louis Daguerre French. 1840 Artesian wells French. 1842 Automatic piano Seytre French. 1844 First telegram sent Prof. Morse U.S. 1845 Double cylinder printing press Richard Hoe U.S. 1845 Pneumatic tire Thompson English. 1846 Sewing machine Elias Howe U.S. 1846 Ether as an anaesthetic Dr. Morton U.S. 1847 Nitroglycerine Sobrero 1847 Improved Hoe printing press Richard Hoe U.S. 1849 Steam pressure gauge Bourdon French. 1849 Corliss engine George H. Corliss U.S. 1850 Mercerized cotton John Mercer English. 1851 Breech-loading rifle Maynard U.S. 1851 Ice-making machine Gorrie U.S. 1852 Telegraph fire alarm Channing & Farmer U.S. 1854 Diamond rock drill Herman U.S. 1854 Revolver Smith & Wesson U.S. 1855 Cocaine Gaedeke German. 1855 Bessemer steel Sir Henry Bessemer English. 1855 Bicycle Michaux French. 1856 Sleeping car Woodruff U.S. 1858 Cable car Gardner U.S. 1858 First Atlantic cable Cyrus Field U.S. 1859 "Great Eastern" launched U.S. 1861 Passenger elevator E. G. Otis U.S. 1861 Barbed wire fence U.S. 1862 Gattling gun Dr. R. J. Gattling U.S. 1865 Antiseptic surgery Sir Jos. Lister English. 1866 Open hearth steel process Siemens-Martin English. 1866 Torpedoes Whitehead U.S. 1868 Typewriting machine C. L. Sholes U.S. 1868 Dynamite Nobel French. 1868 Oleomargarine Mege French. 1868 Sulky plow Slusser U.S. 1869 Spring tooth harrow Garver U.S. 1870 Celluloid Hyatt U.S. 1872 Automatic brake Geo. Westinghouse U.S. 1872 Car coupler E. H. Janney U.S. 1873 Quadruplex telegraph Thos. A. Edison U.S. 1873 Twine binder harvester Gorham U.S. 1873 Self-binding reaper Loche & Wood U.S. 1875 Roller flour mills Wegmann U.S. 1875 Ice-making machine Pictet Switzerland. 1876 Telephone Dr. Alex. Graham Bell U.S. 1877 Phonograph Thos. A. Edison U.S. 1877 Gas engine N. A. Otto U.S. 1877 Telephone transmitter Emile Berliner U.S. 1878 Carbon filament for electric lamps Thos. A. Edison U.S. 1878 Rotary disc cultivator Mallon U.S. 1880 Telephone transmitter Blake U.S. 1880 Hammerless gun Greener U.S. 1880 Typhoid bacillus Robert Koch German. 1880 Pneumonia bacillus Sternberg U.S. 1881 Buttonhole machine Reece U.S. 1882 Tuberculosis bacillus Robert Koch German. 1882 Hydrophobia bacillus Louis Pasteur French. 1884 Cholera bacillus Robert Koch German. 1884 Diphtheria bacillus Loefler German. 1884 Lockjaw bacillus Nicolaier French. 1884 Antipyrene Kuno U.S. 1884 Linotype machine Ottmar Mergenthaler U.S. 1885 First electric street railway in the U.S. Baltimore, Md. 1885 Overhead electric trolley Van Depole U.S. 1886 Graphophone Bell & Tainter U.S. 1887 Cyanide process McArthur & Forest U.S. 1887 Incandescent gas light Carl Welsbach German. 1888 Harveyized armor plate Harvey U.S. 1888 Kodak snapshot camera Eastman & Walker U.S. 1890 Bicycles equipped with pneumatic tires U.S. 1890 Magazine rifle Krag-Jorgensen U.S. 1891 Rotary steam turbine Parsons English. 1893 Kinetoscope Thos. A. Edison U.S. 1893 Carborundum E. G. Acheson U.S. 1893 Calcium carbide electrically produced Thos. L. Wilson U.S. 1895 Liquifying air Carl Linde German. 1895 X-rays Prof. Roentgen German. 1895 Acetylene gas from calcium carbide Thos. L. Wilson U.S. 1896 Wireless telegraphy G. Marconi Italian. 1896 Finsen rays Finsen Danish. 1898 Non-whittling lead pencil F. H. Lippincott U.S. 1900 Mercury vapor electric light Peter Cooper Hewitt U.S. 1901 Airship M. Santos-Dumont French. 1901 Automobile mower Deering Harvester Co. U.S. From the Encyclopedia Americana. "There are no elevators in the house of success."—Silent Partner. Since the above list (taken from the Encyclopedia Americana) was published, there have been a large number of very important inventions brought out. In 1898 Professor and Madam Curie, of Paris, discovered radium. This remarkable substance is extracted from pitch- blende. It is said to require the reduction of about five thousand tons of the blende to produce one pound of radium. The cost of one pound of radium is variously estimated at from one to three millions of dollars. Radium overturns all the laws of chemistry and physics. Scientists state that if a method of producing it cheaply is ever discovered it will create the greatest revolution in industrial circles. One pound of radium is said to be capable of lighting an enormous area for one billion years without reducing its size or substance by one thousandth part. In other words, it exerts abnormal energy without any appreciable loss. In 1902, January, Peter Cooper Hewitt, of New York City, announced the invention by him of his Mercury Vapor tube electric light. This light is red-less,—gives off all colors except red. It is in present use in many large establishments. It is practically indestructible, and gives eight times as much light with the same amount of electricity as other lights. Mr. Hewitt is a wealthy man, having inherited money. He comes of the famous New York Hewitt family, whose members have been in the forefront of progress. Mr. Hewitt also invented the "Hewitt Electrical Converter" and the "Hewitt Electrical Interrupter," both inventions of unusual merit. In 1903, January 18th, Guglielmo Marconi sent a wireless message from Cape Cod, Mass., to Cornwall, England, a distance of 3000 miles. Such a thing, a few years ago, would have been considered absolutely impossible,— unbelievable,—a wild flight of the imagination. Marconi's achievement was accomplished only after the most prolonged experimentation and many disappointments. In 1908, September 12th, Hudson Maxim filed an application for a patent on an electrical invention for the prolongation of human life. In 1908, Professor Alexander Graham Bell and Professor Emile Berliner, famous inventors in telephones, are working on new styles of flying machines. With these experts in the field, aerial navigation will, no doubt, shortly be a problem completely solved. NOTES. In 200 B.C., Hero, of Alexandria, gives an account of an ingenious steam toy. In 1543, one Blasco de Garay is said to have shown in the harbor of Barcelona, Spain, a vessel of two hundred tons' burden, moved by a paddle wheel driven by steam power. In 1663 Edward Somerset, the ingenious Marquis of Worcester, contrived the first steam engine. In 1742, when Benjamin Franklin invented the "Franklin Stove," or as it is sometimes called, the "Pennsylvania Fireplace," he refused to accept a patent on it, saying, "we enjoy great advantages from the inventions of others, so we should be glad of an opportunity to serve others by an invention of ours." An unscrupulous London manufacturer made some light changes in Franklin's stove, we are sorry to state, got a patent on it, and made a fortune from its sale. An invention of the greatest utility was that brought out in 1788 by William Symington, a young Englishman, for a method of converting the reciprocating motion of an engine into the rotary. About 1790, Claude Chappe, a Frenchman, while at school at Angers, contrived an apparatus consisting of a post bearing a revolving beam and circulatory arms with which he conveyed signals to three of his brothers who were at another school about half-a-league distant, who read the signals with a telescope. In 1792 the French Legislature voted Chappe 6000 francs ($1200) to enable him to make experiments in Paris. This invention of Chappe was called the "Semaphore Telegraph." Of course, misty or foggy weather would preclude the use of this signalling device. During the war between England and France an amusing incident is related of the use of the "Semaphore Telegraph." The admiral at Plymouth started a "wigwag message" to Whitehall, but was able to forward only part of the message, a thick fog gathering over a portion of the line and interrupting the message. The first part of the message was "Wellington defeated," which caused great distress and anxiety in London. The remainder of the message, "the French at Salamanca," received next day, changed the metropolitan sorrow into gladness. About the year 1790, Signor Galvani, a professor of anatomy at Bologna, discovered the principle of Galvanic electricity. This was brought about in a very peculiar way. Mrs. Galvani was ill, and her physician prescribed some frog broth. Accordingly, frogs were procured, skinned, washed and laid on a table in the professor's laboratory, which seemed to serve a double purpose of a room for scientific and culinary operations. One of the professor's assistants was engaged in experimenting with a large electric machine which stood upon the same table, and had occasion to draw sparks from the machine. The wife of Galvani, who was present, was surprised to observe that every time he did so the limbs of the frogs moved as if alive. She immediately communicated this strange incident to her husband, who repeated the experiments with, of course, the same result. From this experiment was later developed the so-called zinc and copper wet jars used in the art. In 1807, Robert Fulton, who was of Irish Descent, made his famous trip in his steamboat, the "Clermont," from New York to Albany, a distance of one hundred and fifty miles, in thirty-two hours, and returned in thirty hours, averaging about five miles per hour. Many stories are told of the consternation the "Clermont" excited in those who saw her for the first time. People who had seen her passing at night described her as "a monster moving on the waters, defying wind and tide, and breathing flames and smoke." The steamboats, at that time, used pine wood for fuel, which sent columns of ignited vapor many feet above the stack, and whenever the fire was stirred enormous showers of sparks would fly off, which in the night produced a very brilliant and beautiful effect. Sailors and seamen on vessels that had never seen a steamboat were scared speechless, and in many cases prostrated themselves, and besought Providence to protect them from the approaches of the horrible monster which they saw. In 1835 Thomas D. Edmundson, a station agent on the New Castle and Carlisle line, in England, invented the first railroad ticket. The inventor for several years devoted himself entirely to the ticket industry, and by degrees a business arose which became one of the largest in the world. In 1840 the Government issued the first postage stamps. George Stephenson died in 1848 at the age of 67, a wealthy man, beloved and honored by all. Statues of him were erected at Liverpool, London and Newcastle. In Rome, Italy, a tablet bears this inscription: "In this Rome, from whence wondrous roads proceed to the empire of the world, the employees of the Roman railways, on the 9th of June, 1881, worthily commemorated the centenary of George Stephenson, who opened still more wondrous roads to the brotherhood of the nations, and whose virtues, inspiring to great works, have left an undying example." During an examination before a Parliamentary Committee George Stephenson was asked, "Suppose, now, one of your engines to be going at the rate of nine or ten miles an hour, and that a cow were to stray upon the line, and get in the way of the engine, would not that be a very awkward circumstance?" Stephenson replied, "Yes, very awkward for the cow." In the course of the same examination he was asked, "But would not men and animals become frightened by the red hot smoke pipe?" to which question Stephenson replied, "But how would they know that it was not painted?" These extracts indicate some of the difficulties inventors had to contend with. In 1876 two hours after Bell filed his patent for his telephone, Elisha Gray, of Boston, filed an application for a similar device. Bell won, and has been awarded great honors for his invention. It was at first referred to as a "scientific toy." It is now a necessity. In 1880 Marthelemay Themonier, a Frenchman, was mobbed for building a sewing machine, by laborers who thought his machines contrary to their interests. "Victory belongs to the most persevering."—Napoleon. "Success is the child of audacity."—Beaconsfield. By-Products Many men mistake obstinacy for perseverance. Anybody can slide down hill, but it takes good legs and good wind to go up. A third of our lives is spent in bed—that's why we ought to hustle the other two-thirds. Waste is criminal. The old proverb says, "Waste not, want not." And it is true. Anybody may drink at the fountain of knowledge, but you've got to bring your own cup. The farther you look back into the history of industry and invention, the more you will be impressed with the fact that almost everything has improved as our ability to produce it has increased. Wireless telegraphy would never have come about had not the other kind preceded, and it is impossible to imagine the phonograph's being ahead of the telephone. Without illuminating gas and gasoline, Welsbach lights would never have been thought of or possible. We would have no electric lights without the dynamo, and no dynamo if wire-drawing had not first been perfected. So it goes—everything is dependent on factors that have preceded and any achievement of today is the result of thousands of years of previous effort and thought. And the knowledge that we are adding to the world's store today is but the foundation for further advance by men to come. As long as we don't know everything there will be things we cannot explain and these things will be called chance. Into the life of every human being there enter these inexplicable occurrences. Silent Partner. CHAPTER III. PATENTS THE GREATEST SOURCE OF WEALTH "Upon what meat does this, our Caesar, feed, that he has grown so great?"—Shakespeare. THE SOURCES OF WEALTH. The diagram below shows very clearly the rich men of the world, and the source of their wealth: The cry nowadays is that there are no chances for accumulating wealth as did these people—in some ways this is right. Three of the avenues to wealth are pretty well closed: Taking each up in turn we find 1st. Natural Wealth. Secured by Mining, Drilling and Digging. Examples: John D. Rockefeller, Henry H. Rogers, Barney Barnato, and many others. First. Mines and Oil Wells are becoming scarcer every year, and there are few which remain undiscovered. 2nd. Real Estate. Advances in value as by buying lots in a growing city and taking advantage of its growth. Examples: Hetty Green, The Vanderbilts, Russell Sage, and many others. Second. Real Estate takes an inside knowledge of conditions, which none but men who give the subject deep study can hope to acquire. 3rd. Transportation. Steam Railways, Electric Railways, and Steamboat lines. Examples: The Goulds, Thomas J. Ryan, E. H. Harriman. Third. Transportation requires big capital, and the small investor on the "outside" has no chance whatsoever. 4th. Patents. Inventions on articles in use in the manufactures, the arts, the home. Examples: Carnegie, Edison, Schwab, Maxim, Krupp, Westinghouse, Pullman, Bell, Welsbach, Singer, Hewitt, McCormick, Acheson, Colt, Marconi, Bessemer, and thousands of others. Fourth. PATENTS ARE TO-DAY THE GREATEST SOURCE OF WEALTH. "Genius, that power which dazzles mortal eyes, Is oft but perseverance in disguise."