Yawn and Grow Rich Course
By Paul Adams – The Yawn Guy
SECTION 3: FAITH
- Text in black (after legend) = original text of Think and Grow Rich by Napoleon Hill
- Text in blue = paragraph numbers and course instructions to you, the student
- DEMO = draw out pictures of real-life situations on paper using stick figures for you, your partner, your boss etc. Demos will help considerably with your understanding. Do not use a lot of words in the demo. Demo the ideas as they apply to your own life. You can also do demos at your discretion to help with any "non-demo" paragraph too. If you are feeling "light-headed" from too much theory, do lots of real-life demos until the light-headedness goes away.
- PRACTICAL = an assignment for you to do now before continuing to read further in the text. Sometimes it will be something for you to do later in the day, or a continuing action, and if so this will be stated.
- Text in green = explanation, not written by Napoleon Hill
- Mark the radio buttons ( | ) honestly as you do each paragraph. Note that these buttons will clear when you close your browser. It is not a good idea to leave lots of "Hmmm"s behind you. (That doesn't mean close your browser often!)
- Look up any word or phrase you don't understand when you first encounter it. This is important—don't guess or slide by without getting it. Use it in sentences of your own until you fully get it. This might take a few or it might take ten or more sentences.
- If you really can't understand a paragraph and it does seems like you understand every word, click on the "Didn't get it" link at the end of that paragraph. Follow the instructions you find there. This is different to a "negative reaction". "Didn't get it" means you have gone foggy or blank and didn't understand the paragraph, either the whole of it or some part of it.
- If you understood the paragraph, but have a negative reaction to the text, first make sure you understand the words the author is using, and the idea he is trying to put across. In other words, make sure your reaction is to what the author is saying, not to what you misunderstand him to be saying. If the reaction persists, click on the "Negative reaction" link and follow the instructions there. An example of a negative reaction would be "Oh! I'll never be able to do that!"
CHAPTER 3: FAITH
VISUALIZATION OF, AND BELIEF IN ATTAINMENT OF DESIRE
The Second Step toward Riches
3.1 FAITH is the head chemist of
the mind. When FAITH is blended with the vibration of thought, the
subconscious mind instantly picks up the vibration, translates it into
its spiritual equivalent, and transmits it to Infinite Intelligence, as
in the case of prayer.
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3.2 The emotions of FAITH, LOVE,
and SEX are the most powerful of all the major positive emotions. When
the three are blended, they have the effect of "coloring" the vibration
of thought in such a way that it instantly reaches the subconscious
mind, where it is changed into its spiritual equivalent, the only form
that induces a response from Infinite Intelligence.
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3.3 Love and faith are psychic;
related to the spiritual side of man. Sex is purely biological, and
related only to the physical. The mixing, or blending, of these three
emotions has the effect of opening a direct line of communication
between the finite, thinking mind of man, and Infinite Intelligence.
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HOW TO DEVELOP FAITH
3.4 There comes, now, a
statement which will give a better understanding of the importance the
principle of auto-suggestion assumes in the transmutation of desire into
its physical, or monetary equivalent; namely: FAITH is a state of mind
which may be induced, or created, by affirmation or repeated
instructions to the subconscious mind, through the principle of
auto-suggestion.
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3.5 As an illustration, consider
the purpose for which you are, presumably, reading this book. The
object is, naturally, to acquire the ability to transmute the intangible
thought impulse of DESIRE into its physical counterpart, money. By
following the instructions laid down in the chapters on auto-suggestion,
and the subconscious mind, as summarized in the chapter on
auto-suggestion, you may CONVINCE the subconscious mind that you believe
you will receive that for which you ask, and it will act upon that
belief, which your subconscious mind passes back to you in the form of
"FAITH," followed by definite plans for procuring that which you desire.
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3.6 The method by which one
develops FAITH, where it does not already exist, is extremely difficult
to describe, almost as difficult, in fact, as it would be to describe
the color of red to a blind man who has never seen color, and has
nothing with which to compare what you describe to him. Faith is a state
of mind which you may develop at will, after you have mastered the
thirteen principles, because it is a state of mind which develops
voluntarily, through application and use of these principles.
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3.7 DEMO: Repetition of
affirmation of orders to your subconscious mind is the only known method
of voluntary development of the emotion of faith.
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3.8 Perhaps the meaning may be
made clearer through the following explanation as to the way men
sometimes become criminals. Stated in the words of a famous
criminologist, "When men first come into contact with crime, they abhor
it. If they remain in contact with crime for a time, they become
accustomed to it, and endure it. If they remain in contact with it long
enough, they finally embrace it, and become influenced by it."
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3.9 This is the equivalent of
saying that any impulse of thought which is repeatedly passed on to the
subconscious mind is, finally, accepted and acted upon by the
subconscious mind, which proceeds to translate that impulse into its
physical equivalent, by the most practical procedure available.
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3.10 DEMO In connection with
this, consider again the statement, ALL THOUGHTS WHICH HAVE BEEN
EMOTIONALIZED, (given feeling) AND MIXED WITH FAITH, begin immediately
to translate themselves into their physical equivalent or counterpart.
Demo done
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3.11 DEMO: The emotions, or the
"feeling" portion of thoughts, are the factors which give thoughts
vitality, life, and action. The emotions of Faith, Love, and Sex, when
mixed with any thought impulse, give it greater action than any of these
emotions can do singly.
Demo done
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3.12 Not only thought impulses
which have been mixed with FAITH, but those which have been mixed with
any of the positive emotions, or any of the negative emotions, may
reach, and influence the subconscious mind.
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3.13 From this statement, you
will understand that the subconscious mind will translate into its
physical equivalent, a thought impulse of a negative or destructive
nature, just as readily as it will act upon thought impulses of a
positive or constructive nature. This accounts for the strange
phenomenon which so many millions of people experience, referred to as
"misfortune," or "bad luck."
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3.14 There are millions of
people who BELIEVE themselves "doomed" to poverty and failure, because
of some strange force over which they BELIEVE they have no control. They
are the creators of their own "misfortunes," because of this negative
BELIEF, which is picked up by the subconscious mind, and translated into
its physical equivalent.
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3.15 This is an appropriate
place at which to suggest again that you may benefit, by passing on to
your subconscious mind, any DESIRE which you wish translated into its
physical, or monetary equivalent, in a state of expectancy or BELIEF
that the transmutation will actually take place. Your BELIEF, or FAITH,
is the element which determines the action of your subconscious mind.
There is nothing to hinder you from "deceiving" your subconscious mind
when giving it instructions through autosuggestion, as I deceived my
son's subconscious mind.
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3.16 To make this "deceit" more
realistic, conduct yourself just as you would, if you were ALREADY IN
POSSESSION OF THE MATERIAL THING WHICH YOU ARE DEMANDING, when you call
upon your subconscious mind.
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3.17 The subconscious mind will
transmute into its physical equivalent, by the most direct and practical
media available, any order which is given to it in a state of BELIEF,
or FAITH that the order will be carried out.
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3.18 Surely, enough has been
stated to give a starting point from which one may, through experiment
and practice, acquire the ability to mix FAITH with any order given to
the subconscious mind. Perfection will come through practice. It cannot come by merely reading instructions.
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3.19 If it be true that one may
become a criminal by association with crime, (and this is a known fact),
it is equally true that one may develop faith by voluntarily suggesting
to the subconscious mind that one has faith. The mind comes, finally,
to take on the nature of the influences which dominate it. Understand
this truth, and you will know why it is essential for you to encourage
the positive emotions as dominating forces of your mind, and discourage—and eliminate negative emotions.
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3.20 A mind dominated by
positive emotions, becomes a favorable abode for the state of mind known
as faith. A mind so dominated may, at will, give the subconscious mind
instructions, which it will accept and act upon immediately.
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FAITH IS A STATE OF MIND WHICH MAY BE INDUCED BY AUTO-SUGGESTION
3.21 All down the ages, the
religionists have admonished struggling humanity to "have faith" in
this, that, and the other dogma or creed, but they have failed to tell
people HOW to have faith. They have not stated that "faith is a state of
mind, and that it may be induced by self-suggestion."
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3.22 In language which any
normal human being can understand, we will describe all that is known
about the principle through which FAITH may be developed, where it does
not already exist.
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3.23 Have Faith in yourself; Faith in the Infinite. Before we begin, you should be reminded again that:
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3.24 FAITH is the "eternal elixir" which gives life, power, and action to the impulse of thought!
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3.25 The foregoing sentence is worth reading a second time, and a third, and a fourth. It is worth reading aloud!
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3.26 FAITH is the starting point of all accumulation of riches!
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3.27 FAITH is the basis of all "miracles," and all mysteries which cannot be analyzed by the rules of science!
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3.28 FAITH is the only known antidote for FAILURE!
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3.29 FAITH is the element, the "chemical" which, when mixed with prayer, gives one direct communication with Infinite Intelligence.
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3.30 FAITH is the element which
transforms the ordinary vibration of thought, created by the finite mind
of man, into the spiritual equivalent.
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3.31 FAITH is the only agency through which the cosmic force of Infinite Intelligence can be harnessed and used by man.
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3.32 EVERY ONE OF THE FOREGOING STATEMENTS IS CAPABLE OF PROOF!
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3.33 The proof is simple and
easily demonstrated. It is wrapped up in the principle of
auto-suggestion. Let us center our attention, therefore, upon the
subject of self-suggestion, and find out what it is, and what it is
capable of achieving.
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3.34 It is a well known fact that one comes, finally, to BELIEVE whatever one repeats to one's self, whether the statement be true or false.
If a man repeats a lie over and over, he will eventually accept the lie
as truth. Moreover, he will BELIEVE it to be the truth. Every man is
what he is, because of the DOMINATING THOUGHTS which he permits to
occupy his mind. Thoughts which a man deliberately places in his own
mind, and encourages with sympathy, and with which he mixes any one or
more of the emotions, constitute the motivating forces, which direct and
control his every movement, act, and deed!
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3.35 Comes, now, a very significant statement of truth:
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3.36 DEMO: THOUGHTS WHICH ARE
MIXED WITH ANY OF THE FEELINGS OF EMOTIONS, CONSTITUTE A "MAGNETIC"
FORCE WHICH ATTRACTS, FROM THE VIBRATIONS OF THE ETHER, OTHER SIMILAR,
OR RELATED THOUGHTS. A thought thus "magnetized" with emotion may be
compared to a seed which, when planted in fertile soil, germinates,
grows, and multiplies itself over and over again, until that which was
originally one small seed, becomes countless millions of seeds of the
SAME BRAND!
Demo done
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3.37 The ether is a great cosmic
mass of eternal forces of vibration. It is made up of both destructive
vibrations and constructive vibrations. It carries, at all times,
vibrations of fear, poverty, disease, failure, misery; and vibrations of
prosperity, health, success, and happiness, just as surely as it
carries the sound of hundreds of orchestrations of music, and hundreds
of human voices, all of which maintain their own individuality, and
means of identification, through the medium of radio.
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3.38 From the great storehouse
of the ether, the human mind is constantly attracting vibrations which
harmonize with that which DOMINATES the human mind. Any thought, idea,
plan, or purpose which one holds in one's mind attracts, from the
vibrations of the ether, a host of its relatives, adds these
"relatives" to its own force, and grows until it becomes the dominating,
MOTIVATING MASTER of the individual in whose mind it has been housed.
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3.39 Now, let us go back to the
starting point, and become informed as to how the original seed of an
idea, plan, or purpose may be planted in the mind. The information is
easily conveyed: any idea, plan, or purpose may be placed in the mind through repetition of thought.
This is why you are asked to write out a statement of your major
purpose, or Definite Chief Aim, commit it to memory, and repeat it, in
audible words, day after day, until these vibrations of sound have
reached your subconscious mind.
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3.40 We are what we are, because
of the vibrations of thought which we pick up and register, through the
stimuli of our daily environment.
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3.41 Resolve to throw off the
influences of any unfortunate environment, and to build your own life to
ORDER. Taking inventory of mental assets andliabilities, you will
discover that your greatest weakness is lack of self-confidence. This
handicap can be surmounted, and timidity translated into courage,
through the aid of the principle of autosuggestion. The application of
this principle may be made through a simple arrangement of positive
thought impulses stated in writing, memorized, and repeated, until they
become a part of the working equipment of the subconscious faculty of
your mind.
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SELF-CONFIDENCE FORMULA
|
3.42 DEMO: First. |
I know that I have the ability to achieve the object of my Definite
Purpose in life, therefore, I DEMAND of myself persistent, continuous
action toward its attainment, and I here and now promise to render
such action.
Demo done |
|
3.43 DEMO Second. |
I realize the dominating thoughts of my mind will eventually
reproduce themselves in outward, physical action, and gradually
transform themselves into physical reality, therefore, I will
concentrate my thoughts for thirty minutes daily, upon the task of
thinking of the person I intend to become, thereby creating in my mind
a clear mental picture of that person.
Demo done |
|
3.44 DEMO Third. |
I know through the principle of auto-suggestion, any desire that I
persistently hold in my mind will eventually seek expression through
some practical means of attaining the object back of it, therefore, I
will devote ten minutes daily to demanding of myself the development
of SELF-CONFIDENCE.
Demo done |
|
3.45 DEMO Fourth. |
I have clearly written down a description of my DEFINITE CHIEF AIM
in life, and I will never stop trying, until I shall have developed
sufficient self-confidence for its attainment.
Demo done |
|
3.46 DEMO Fifth. |
I fully realize that no wealth or position can long endure, unless
built upon truth and justice, therefore, I will engage in no
transaction which does not benefit all whom it affects. I will succeed
by attracting to myself the forces I wish to use, and the cooperation
of other people. I will induce others to serve me, because of my
willingness to serve others. I will eliminate hatred, envy, jealousy,
selfishness, and cynicism, by developing love for all humanity,
because I know that a negative attitude toward others can never bring me
success. I will cause others to believe in me, because I will believe
in them, and in myself.
Demo done 3.47 DEMO I will sign my name
to this formula, commit it to memory, and repeat it aloud once a day,
with full FAITH that it will gradually influence my THOUGHTS and ACTIONS
so that I will become a self-reliant, and successful person. |
3.47.1 PRACTICAL: Work out a schedule for yourself, setting aside 30 minutes a day—starting today!—to do step 2; and an additional 10 minutes a day to do step 3. In doing step 2, don't just think about what will be happening, but act it out. Imagine the situations you will be in, the people you will meet, and say aloud the things you are likely to be saying, and doing the actions if possible. So if you are likely to be shaking hands with the President, then imagine him being in front of you and actually extend your hand and practise saying aloud "Good morning, Mr. President" or whatever, believing it is happening. Practical done
3.47.2 PRACTICAL: Learn verbatim the Self-Confidence Formula, and from today repeat it aloud once a day. It is OK to continue forward from this point without having completed the verbatim learning, but do the saying aloud from today and complete the memorization before the end of the course. Practical done
3.48 Back of this formula is a
law of Nature which no man has yet been able to explain. It has baffled
the scientists of all ages. The psychologists have named this law
"auto-suggestion," and let it go at that.
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3.49 DEMO: The name by which one
calls this law is of little importance. The important fact about it
is—it WORKS for the glory and success of mankind, IF it is used
constructively. On the other hand, if used destructively, it will
destroy just as readily. In this statement may be found a very
significant truth, namely; that those who go down in defeat, and end
their lives in poverty, misery, and distress, do so because of negative
application of the principle of auto-suggestion. The cause may be found
in the fact that ALL IMPULSES OF THOUGHT HAVE A TENDENCY TO CLOTHE
THEMSELVES IN THEIR PHYSICAL EQUIVALENT.
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3.50 The subconscious mind, (the
chemical laboratory in which all thought impulses are combined, and
made ready for translation into physical reality), makes no distinction
between constructive and destructive thought impulses. It works with the
material we feed it, through our thought impulses. The subconscious
mind will translate into reality a thought driven by FEAR just as
readily as it will translate into reality a thought driven by COURAGE,
or FAITH.
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3.51 The pages of medical
history are rich with illustrations of cases of "suggestive suicide." A
man may commit suicide through negative suggestion, just as effectively
as by any other means. In a midwestern city, a man by the name of Joseph
Grant, a bank official, "borrowed" a large sum of the bank's money,
without the consent of the directors. He lost the money through
gambling. One afternoon, the Bank Examiner came and began to check the
accounts. Grant left the bank, took a room in a local hotel, and when
they found him, three days later, he was lying in bed, wailing and moaning,
repeating over and over these words, "My God, this will kill me! I
cannot stand the disgrace." In a short time he was dead. The doctors
pronounced the case one of "mental suicide."
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3.52 DEMO: Just as electricity
will turn the wheels of industry, and render useful service if used
constructively; or snuff out life if wrongly used, so will the law of
auto-suggestion lead you to peace and prosperity, or down into the
valley of misery, failure, and death, according to your degree of
understanding and application of it.
Demo done
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3.52 If you fill your mind with
FEAR, doubt and unbelief in your ability to connect with, and use the
forces of Infinite Intelligence, the law of auto-suggestion will take
this spirit of unbelief and use it as a pattern by which your
subconscious mind will translate it into its physical equivalent.
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3.53 THIS STATEMENT IS AS TRUE AS THE STATEMENT THAT TWO AND TWO ARE FOUR!
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3.54 Like the wind which carries
one ship East, and another West, the law of auto-suggestion will lift
you up or pull you down, according to the way you set your sails of
THOUGHT.
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3.55 The law of auto-suggestion,
through which any person may rise to altitudes of achievement which
stagger the imagination, is well described in the following verse:
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If you think you dare not, you don't
If you like to win, but you think you can't,
It is almost certain you won't.
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3.57 "If you think you'll lose, you're lost
For out of the world we find,
Success begins with a fellow's will—
It's all in the state of mind.
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3.58 "If you think you are outclassed, you are,
You've got to think high to rise,
You've got to be sure of yourself before
You can ever win a prize.
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3.59 "Life's battles don't always go
To the stronger or faster man,
But soon or late the man who wins
Is the man WHO THINKS HE CAN!"
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3.60 Observe the words which have been emphasized, and you will catch the deep meaning which the poet had in mind.
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3.61 Somewhere in your make-up (perhaps in the cells of your brain) there lies sleeping,
the seed of achievement which, if aroused and put into action, would
carry you to heights, such as you may never have hoped to attain.
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3.62 Just as a master musician
may cause the most beautiful strains of music to pour forth from the
strings of a violin, so may you arouse the genius which lies asleep in
your brain, and cause it to drive you upward to whatever goal you may
wish to achieve.
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3.63 Abraham Lincoln was a
failure at everything he tried, until he was well past the age of forty.
He was a Mr. Nobody from Nowhere, until a great experience came into
his life, aroused the sleeping genius within his heart and brain, and
gave the world one of its really great men. That "experience" was mixed
with the emotions of sorrow and LOVE. It came to him through Anne
Rutledge, the only woman whom he ever truly loved.
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3.64 It is a known fact that the
emotion of LOVE is closely akin to the state of mind known as FAITH,
and this for the reason that Love comes very near to translating one's
thought impulses into their spiritual equivalent. During his work of
research, the author discovered, from the analysis of the lifework and
achievements of hundreds of men of outstanding accomplishment, that
there was the influence of a woman's love back of nearly EVERY ONE OF
THEM. The emotion of love, in the human heart and brain, creates a
favorable field of magnetic attraction, which causes an influx of the
higher and finer vibrations which are afloat in the ether.
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3.65 If you wish evidence of the
power of FAITH, study the achievements of men and women who have
employed it. At the head of the list comes the Nazarene. Christianity is
the greatest single force which influences the minds of men. The basis
of Christianity is FAITH, no matter how many people may have perverted,
or misinterpreted the meaning of this great force, and no matter how
many dogmas and creeds have been created in its name, which do not
reflect its tenets.
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3.66 The sum and substance of
the teachings and the achievements of Christ, which may have been
interpreted as "miracles," were nothing more nor less than FAITH. If
there are any such phenomena as "miracles" they are produced only
through the state of mind known as FAITH! Some teachers of religion, and
many who call themselves Christians, neither understand nor practice
FAITH.
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3.67 Let us consider the power
of FAITH, as it is now being demonstrated, by a man who is well known to
all of civilization, Mahatma Gandhi, of India. In this man the world
has one of the most astounding examples known to civilization, of the
possibilities of FAITH. Gandhi wields more potential power than any man
living at this time, and this, despite the fact that he has none of the
orthodox tools of power, such as money, battle ships, soldiers, and
materials of warfare. Gandhi has no money, he has no home, he does not
own a suit of clothes, but HE DOES HAVE POWER. How does he come by that
power?
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3.68 HE CREATED IT OUT OF HIS
UNDERSTANDING OF THE PRINCIPLE OF FAITH, AND THROUGH HIS ABILITY TO
TRANSPLANT THAT FAITH INTO THE MINDS OF TWO HUNDRED MILLION PEOPLE.
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3.69 Gandhi has accomplished,
through the influence of FAITH, that which the strongest military power
on earth could not, and never will accomplish through soldiers and
military equipment. He has accomplished the astounding feat of
INFLUENCING two hundred million minds to COALESCE AND MOVE IN UNISON, AS
A SINGLE MIND.
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3.70 What other force on earth, except FAITH could do as much?
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3.71 There will come a day when
employees as well as employers will discover the possibilities of FAITH.
That day is dawning. The whole world has had ample opportunity, during
the recent business depression, to witness what the LACK OF FAITH will
do to business.
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3.72 Surely, civilization has
produced a sufficient number of intelligent human beings to make use of
this great lesson which the depression has taught the world. During this
depression, the world had evidence in abundance that widespread FEAR
will paralyze the wheels of industry and business. Out of this
experience will arise leaders in business and industry who will profit
by the example which Gandhi has set for the world, and they will apply
to business the same tactics which he has used in building the greatest
following known in the history of the world. These leaders will come
from the rank and file of the unknown men, who now labor in the steel
plants, the coal mines, the automobile factories, and in the small towns
and cities of America.
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3.73 Business is due for a
reform, make no mistake about this! The methods of the past, based upon
economic combinations of FORCE and FEAR, will be supplanted by the
better principles of FAITH and cooperation. Men who labor will receive
more than daily wages; they will receive dividends from the business,
the same as those who supply the capital for business; but, first they
must GIVE MORE TO THEIR EMPLOYERS, and stop this bickering and
bargaining by force, at the expense of the public. They must earn, the right to dividends!
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3.74 Moreover, and this is the
most important thing of all—THEY WILL BE LED BY LEADERS WHO WILL
UNDERSTAND AND APPLY THE PRINCIPLES EMPLOYED BY MAHATMA GANDHI. Only in
this way may leaders get from their followers the spirit of FULL
cooperation which constitutes power in its highest and most enduring
form.
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3.75 This stupendous machine age
in which we live, and from which we are just emerging, has taken the
soul out of men. Its leaders have driven men as though they were pieces
of cold machinery; they were forced to do so by the employees who have
bargained, at the expense of all concerned, to get and not to give.
The watchword of the future will be HUMAN HAPPINESS AND CONTENTMENT,
and when this state of mind shall have been attained, the production
will take care of itself, more effectively than anything that has ever
been accomplished where men did not, and could not mix FAITH and
individual interest with their labor.
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3.76 Because of the need for
faith and cooperation in operating business and industry, it will be
both interesting and profitable to analyze an event which provides an
excellent understanding of the method by which industrialists and
business men accumulate great fortunes, by giving before they try to get.
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3.77 The event chosen for this
illustration dates back to 1900, when the United States Steel
Corporation was being formed. As you read the story, keep in mind these
fundamental facts and you will understand how IDEAS have been converted
into huge fortunes.
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3.78 First, the huge United
States Steel Corporation was born in the mind of Charles M. Schwab, in
the form of an IDEA he created through his IMAGINATION! Second, he mixed
FAITH with his IDEA. Third, he formulated a PLAN for the transformation
of his IDEA into physical and financial reality. Fourth, he put his
plan into action with his famous speech at the University Club. Fifth,
he applied, and followed-through on his PLAN with PERSISTENCE, and
backed it with firm DECISION until it had been fully carried out. Sixth,
he prepared the way for success by a BURNING DESIRE for success.
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3.79 If you are one of those who
have often wondered how great fortunes are accumulated, this story of
the creation of the United States Steel Corporation will be
enlightening. If you have any doubt that men can THINK AND GROW RICH,
this story should dispel that doubt, because you can plainly see in the
story of the United States Steel, the application of a major portion of
the thirteen principles described in this book.
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3.80 This astounding description
of the power of an IDEA was dramatically told by John Lowell, in the
New York World-Telegram, with whose courtesy it is here reprinted.
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"A PRETTY AFTER-DINNER SPEECH FOR A BILLION DOLLARS
3.81 "When, on the evening of
December 12, 1900, some eighty of the nation's financial nobility
gathered in the banquet hall of the University Club on Fifth Avenue to
do honor to a young man from out of the West, not half a dozen of the
guests realized they were to witness the most significant episode in
American industrial history.
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3.82 "J. Edward Simmons and
Charles Stewart Smith, their hearts full of gratitude for the lavish
hospitality bestowed on them by Charles M. Schwab during a recent visit
to Pittsburgh, had arranged the dinner to introduce the
thirty-eight-year-old steel man to eastern banking society. But they
didn't expect him to stampede the convention. They warned him, in fact,
that the bosoms within New York's stuffed shirts would not be responsive
to oratory, and that, if he didn't want to bore the Stilimans and
Harrimans and Vanderbilts, he had better limit himself to fifteen or
twenty minutes of polite vaporings and let it go at that.
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3.83 "Even John Pierpont Morgan,
sitting on the right hand of Schwab as became his imperial dignity,
intended to grace the banquet table with his presence only briefly. And
so far as the press and public were concerned, the whole affair was of
so little moment that no mention of it found its way into print the next
day.
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3.84 "So the two hosts and their
distinguished guests ate their way through the usual seven or eight
courses. There was little conversation and what there was of it was
restrained. Few of the bankers and brokers had met Schwab, whose career
had flowered along the banks of the Monongahela, and none knew him well.
But before the evening was over, they—and with them Money Master
Morgan—were to be swept off their feet, and a billion-dollar baby, the
United States Steel Corporation, was to be conceived.
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3.85 "It is perhaps unfortunate,
for the sake of history, that no record of Charlie Schwab's speech at
the dinner ever was made. He repeated some parts of it at a later date
during a similar meeting of Chicago bankers. And still later, when the
Government brought suit to dissolve the Steel Trust, he gave his own
version, from the witness stand, of the remarks that stimulated Morgan
into a frenzy of financial activity.
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3.86 "It is probable, however,
that it was a 'homely' speech, somewhat ungrammatical (for the niceties
of language never bothered Schwab), full of epigram and threaded with
wit. But aside from that it had a galvanic force and effect upon the
five billions of estimated capital that was represented by the diners.
After it was over and the gathering was still under its spell, although
Schwab had talked for ninety minutes, Morgan led the orator to a
recessed window where, dangling their legs from the high, uncomfortable
seat, they talked for an hour more.
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3.87 "The magic of the Schwab
personality had been turned on, full force, but what was more important
and lasting was the full-fledged, clear-cut program he laid down for the
aggrandizement of Steel. Many other men had tried to interest Morgan in
slapping together a steel trust after the pattern of the biscuit, wire
and hoop, sugar, rubber, whisky, oil or chewing gum combinations. John
W. Gates, the gambler, had urged it, but Morgan distrusted him. The
Moore boys, Bill and Jim, Chicago stock jobbers who had glued together a
match trust and a cracker corporation, had urged it and failed. Elbert
H. Gary, the sanctimonious country lawyer, wanted to foster it, but he
wasn't big enough to be impressive. Until Schwab's eloquence took J. P.
Morgan to the heights from which he could visualize the solid results of
the most daring financial undertaking ever conceived, the project was
regarded as a delirious dream of easy-money crackpots.
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3.88 "The financial magnetism
that began, a generation ago, to attract thousands of small and
sometimes inefficiently managed companies into large and
competition-crushing combinations, had become operative in the steel
world through the devices of that jovial business pirate, John W. Gates.
Gates already had formed the American Steel and Wire Company out of a
chain of small concerns, and together with Morgan had created the
Federal Steel Company. The National Tube and American Bridge companies
were two more Morgan concerns, and the Moore Brothers had forsaken the
match and cookie business to form the 'American' group—Tin Plate, Steel
Hoop, Sheet Steel—and the National Steel Company.
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3.89 "But by the side of Andrew
Carnegie's gigantic vertical trust, a trust owned and operated by
fifty-three partners, those other combinations were picayune. They might
combine to their heart's content but the whole lot of them couldn't
make a dent in the Carnegie organization, and Morgan knew it.
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3.90 "The eccentric old Scot
knew it, too. From the magnificent heights of Skibo Castle he had
viewed, first with amusement and then with resentment, the attempts of
Morgan's smaller companies to cut into his business. When the attempts
became too bold, Carnegie's temper was translated into anger and
retaliation.
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3.91 He decided to duplicate
every mill owned by his rivals. Hitherto, he hadn't been interested in
wire, pipe, hoops, or sheet. Instead, he was content to sell such
companies the raw steel and let them work it into whatever shape they
wanted. Now, with Schwab as his chief and able lieutenant, he planned to
drive his enemies to the wall.
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3.92 "So it was that in the
speech of Charles M. Schwab, Morgan saw the answer to his problem of
combination. A trust without Carnegie—giant of them all—would be no
trust at all, a plum pudding, as one writer said, without the plums.
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3.93 "Schwab's speech on the
night of December 12, 1900, undoubtedly carried the inference, though
not the pledge, that the vast Carnegie enterprise could be brought under
the Morgan tent. He talked of the world future for steel, of
reorganization for efficiency, of specialization, of the scrapping of
unsuccessful mills and concentration of effort on the flourishing
properties, of economies in the ore traffic, of economies in overhead
and administrative departments, of capturing foreign markets.
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3.94 "More than that, he told
the buccaneers among them wherein lay the errors of their customary
piracy. Their purposes, he inferred, had been to create monopolies,
raise prices, and pay themselves fat dividends out of privilege. Schwab
condemned the system in his heartiest manner. The shortsightedness of
such a policy, he told his hearers, lay in the fact that it restricted
the market in an era when everything cried for expansion. By cheapening
the cost of steel, he argued, an ever-expanding market would be created;
more uses for steel would be devised, and a goodly portion of the world
trade could be captured. Actually, though he did not know it, Schwab
was an apostle of modern mass production.
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3.95 "So the dinner at the
University Club came to an end. Morgan went home, to think about
Schwab's rosy predictions. Schwab went back to Pittsburgh to run the
steel business for 'Wee Andra Carnegie,' while Gary and the rest went
back to their stock tickers, to fiddle around in anticipation of the
next move.
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3.96 "It was not long coming. It
took Morgan about one week to digest the feast of reason Schwab had
placed before him. When he had assured himself that no financial
indigestion was to result, he sent for Schwab—and found that young man
rather coy. Mr. Carnegie, Schwab indicated, might not like it if he
found his trusted company president had been flirting with the Emperor
of Wall Street, the Street upon which Carnegie was resolved never to
tread. Then it was suggested by John W. Gates the go-between, that if
Schwab 'happened' to be in the Bellevue Hotel in Philadelphia, J. P.
Morgan might also 'happen' to be there. When Schwab arrived, however,
Morgan was inconveniently ill at his New York home, and so, on the elder
man's pressing invitation, Schwab went to New York and presented
himself at the door of the financier's library.
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3.97 "Now certain economic
historians have professed the belief that from the beginning to the end
of the drama, the stage was set by Andrew Carnegie—that the dinner to
Schwab, the famous speech, the Sunday night conference between Schwab
and the Money King, were events arranged by the canny Scot. The truth is
exactly the opposite. When Schwab was called in to consummate the deal,
he didn't even know whether 'the little boss,' as Andrew was called,
would so much as listen to an offer to sell, particularly to a group of
men whom Andrew regarded as being endowed with something less than
holiness. But Schwab did take into the conference with him, in his own
handwriting, six sheets of copper-plate figures, representing to his
mind the physical worth and the potential earning capacity of every
steel company he regarded as an essential star in the new metal
firmament.
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3.98 "Four men pondered over
these figures all night. The chief, of course, was Morgan, steadfast in
his belief in the Divine Right of Money. With him was his aristocratic
partner, Robert Bacon, a scholar and a gentleman. The third was John W.
Gates whom Morgan scorned as a gambler and used as a tool. The fourth
was Schwab, who knew more about the processes of making and selling
steel than any whole group of men then living. Throughout that
conference, the Pittsburgher's figures were never questioned. If he said
a company was worth so much, then it was worth that much and no more.
He was insistent, too, upon including in the combination only those
concerns he nominated. He had conceived a corporation in which there
would be no duplication, not even to satisfy the greed of friends who
wanted to unload their companies upon the broad Morgan shoulders. Thus
he left out, by design, a number of the larger concerns upon which the
Walruses and Carpenters of Wall Street had cast hungry eyes.
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3.99 "When dawn came, Morgan rose and straightened his back. Only one question remained.
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3.100 "'Do you think you can persuade Andrew Carnegie to sell?' he asked.
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3.101 "'I can try,' said Schwab.
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3.102 "'If you can get him to sell, I will undertake the matter,' said Morgan.
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3.103 "So far so good. But would
Carnegie sell? How much would he demand? (Schwab thought about
$320,000,000). What would he take payment in? Common or preferred
stocks? Bonds? Cash? Nobody could raise a third of a billion dollars in
cash.
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3.104 "There was a golf game in
January on the frost-cracking heath of the St. Andrews links in
Westchester, with Andrew bundled up in sweaters against the cold, and
Charlie talking volubly, as usual, to keep his spirits up. But no word
of business was mentioned until the pair sat down in the cozy warmth of
the Carnegie cottage hard by. Then, with the same persuasiveness that
had hypnotized eighty millionaires at the University Club, Schwab poured
out the glittering promises of retirement in comfort, of untold
millions to satisfy the old man's social caprices. Carnegie capitulated,
wrote a figure on a slip of paper, handed it to Schwab and said, 'all
right, that's what we'll sell for.'
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3.105 "The figure was
approximately $400,000,000, and was reached by taking the $320,000,000
mentioned by Schwab as a basic figure, and adding to it $80,000,000 to
represent the increased capital value over the previous two years.
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3.106 "Later, on the deck of a
trans-Atlantic liner, the Scotsman said ruefully to Morgan, 'I wish I
had asked you for $100,000,000 more.'
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3.107 "'If you had asked for it, you'd have gotten it,' Morgan told him cheerfully.
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3.108 "There was an uproar, of
course. A British correspondent cabled that the foreign steel world was
'appalled' by the gigantic combination. President Hadley, of Yale,
declared that unless trusts were regulated the country might expect 'an
emperor in Washington within the next twenty-five years.' But that able
stock manipulator, Keene, went at his work of shoving the new stock at
the public so vigorously that all the excess water—estimated by some at
nearly $600,000,000—was absorbed in a twinkling. So Carnegie had his
millions, and the Morgan syndicate had $62,000,000 for all its
'trouble,' and all the 'boys,' from Gates to Gary, had their millions.
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3.109 "The thirty-eight-year-old
Schwab had his reward. He was made president of the new corporation and
remained in control until 1930."
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3.110 The dramatic story of "Big
Business" which you have just finished, was included in this book,
because it is a perfect illustration of the method by which DESIRE CAN BE TRANSMUTED INTO ITS PHYSICAL EQUIVALENT!
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3.111 I imagine some readers
will question the statement that a mere, intangible DESIRE can be
converted into its physical equivalent. Doubtless some will say, "You
cannot convert NOTHING into SOMETHING!" The answer is in the story of
United States Steel.
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3.112 That giant organization
was created in the mind of one man. The plan by which the organization
was provided with the steel mills that gave it financial stability was
created in the mind of the same man. His FAITH, his DESIRE, his
IMAGINATION, his PERSISTENCE were the real ingredients that went into
United States Steel. The steel mills and mechanical equipment acquired
by the corporation, AFTER IT HAD BEEN BROUGHT INTO LEGAL EXISTENCE, were
incidental, but careful analysis will disclose the fact that the
appraised value of the properties acquired by the corporation increased
in value by an estimated SIX HUNDRED MILLION DOLLARS, by the mere
transaction which consolidated them under one management.
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3.113 In other words, Charles M.
Schwab's IDEA, plus the FAITH with which he conveyed it to the minds of
J. P. Morgan and the others, was marketed for a profit of approximately
$600,000,000. Not an insignificant sum for a single IDEA!
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3.114 What happened to some of
the men who took their share of the millions of dollars of profit made
by this transaction, is a matter with which we are not now concerned.
The important feature of the astounding achievement is that it serves as
unquestionable evidence of the soundness of the philosophy described in
this book, because this philosophy was the warp and the woof of the
entire transaction. Moreover, the practicability of the philosophy has
been established by the fact that the United States Steel Corporation
prospered, and became one of the richest and most powerful corporations
in America, employing thousands of people, developing new uses for
steel, and opening new markets; thus proving that the $600,000,000 in
profit which the Schwab IDEA produced was earned. RICHES begin in the
form of THOUGHT!
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3.115 The amount is limited only
by the person in whose mind the THOUGHT is put into motion. FAITH
removes limitations! Remember this when you are ready to bargain with
Life for whatever it is that you ask as your price for having passed
this way.
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3.116 Remember, also, that the
man who created the United States Steel Corporation was practically
unknown at the time. He was merely Andrew Carnegie's "Man Friday" until
he gave birth to his famous IDEA. After that he quickly rose to a
position of power, fame, and riches.
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3.116.1 PRACTICAL: Make written notes as you do this recalling. Recall a time you created an IDEA through your IMAGINATION; then mixed FAITH with your IDEA. Then formulated a PLAN for the transformation of your IDEA into physical and financial reality. Then you put your plan into action and followed-through on it with PERSISTENCE, and backed it with firm DECISION until it had been fully carried out. And also you prepared the way for success by a BURNING DESIRE for success. Repeat this until you know you can do the actions again and again! Practical done
3.FDS PRACTICAL: Skim over the chapter again to refamiliarize yourself with the main ideas, then check over the False Data Stripping questions with regard to it, using the PaulsRobot3 FDSing module. Remember the idea is to FIND and deal with False Data, not to confirm that of course you don't have any. :). Once you have found and dealt with any false data, study this chapter once more before going on to the next one. You can decide which demos and practicals you should do again.
3.LEC FINAL PRACTICAL: Deliver a 3-5 minute
lecture (by the clock) on the main points of this chapter, without using
any notes at all. You don't have to use people for an audience; use
the dog or the wall if you prefer. If you don't know the subject well
enough to do this, do the entire section again, paragraphs 3.1 to 3.FDS,
including all demos. This is a test of your understanding, not your
ability to remember a collection of words or phrases. Working out how
to explain the main points to someone else—IN SPOKEN WORDS, ALOUD—is
usually a very valuable aid to your own understanding.
CONGRATULATIONS! END OF SECTION 3
Next: Chapter 4. Auto-Suggestion (The Third Step toward Riches)