[...]
This is a factory.
This is a machine in the factory.
This is the workman who tans the machine in the factory.
And this is what the workman makes on his machine in the factory.
This is a widget.
A widget might be a radio, a refrigerator, a musical instrument, or a motor car.
A widget, you know, is just a symbol for any manufactured
product that people use.
Inside the widget factory, there are lots of widget-making products.
And the skilled workmen who run these machines turn out the
finest widget you've ever seen.
They're as modern, attractive, and efficient as careful design and fine
craftsmanship can possibly make them.
People will certainly want to buy these widgets because they are
so fine and up to date.
Here comes a man now with money to buy a widget.
Here's a farmer. He needs a widget on his farm, and he's in a hurry to buy one.
Here's your money, Mr. Widgetmaker, and here's your widget, Mr. Farmer. That's
all there is to it. The deal is completed.
Everyone is happy. The widget maker has the money, and the farmer has his widget.
And here comes another man who wants to buy a widget.
This man is a coal miner, and he's bringing his money with him. He wants
his new widget right away, too.
These certainly must be good widgets because there is such
a widespread demand for them.
Everyone seems to need a widget. For instance, this man is a steel manufacturer.
Apparently, he can use a widget.
And here's a lumberman, too. They all want widgets. Business is certainly good.
These people are customers because they are willing to trade money for widgets,
and all the customers take the widgets home to all parts of the country.
Look at all that money the widget builder has taken
in from the sale of his widgets.
But now that the builder has the money, he has to pay out a large
part of it to the workmen in the factory.
That's all right, though, because these workmen need the money to buy food and
clothing, and to pay the rent.
And maybe even a lot of them will want to use some of their money
to buy widgets for themselves.
But since so many widgets have been made and sold, the widget builder is running
out of raw materials to make into more widgets.
So out here where the raw materials come in, he buys cotton.
This widget factory uses a lot of cotton.
And what do you know? It's our farmer friend back again.
The farmer wants to sell his cotton to the widget maker.
Well, turn about his fair play, and now the widget maker has more raw material.
And the farmer has his money back again, in addition
to the widget he already bought.
The widget maker needs coal and steel and lumber, too.
So here are the coal miner and the steel man and the lumber man to sell them.
Just a little while ago, these men were the widget maker's customers.
But now the widget maker is their customer.
He has money to trade for raw materials, a lot of
different materials from a lot of places.
So the widget maker is a buyer as well as a seller.
Evidently in this widget business, somebody is always buying and selling.
Everybody is somebody else's customer.
The raw materials that the widget maker buys, the products of field and mine and
woods and shop, go into one end of the machine, and out of the other end of the
machine, come nice, new, shiny widgets.
And that's all there is to it when everything runs as smoothly
as it does in this factory.
With men and machines all at work, this factory becomes a beehive of activity.
Selling widgets, buying raw materials, making more widgets, a number one widget
that any customer would be glad to have.
And while widgets are being bought and sold at one end of the factory, raw
materials are being sold and bought at the other end.
So with everything humming along smoothly and everyone working for somebody else,
money seems to travel round and round in this widget business.
Maybe that's true in other lines of business too.
Don't you think so?
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