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Secretary Hodges: Invest and Build for the Future

Oct. 15, 1961 - Secretary of Commerce Luther H. Hodges (right) said today that “there is still plenty of room at the top, and young people ought to know it.” Mr. Hodges, 63, rose from office boy to become a $75,000-a-year textile industrialist before he retired to enter politics. He said making money was the easiest thing in the world if a person was “willing to actually give himself to the job” with energy, character, and imagination. “I find that if you really don’t look at the clock and give yourself to your work, the making of money is easy.” Mr. Hodges conceded that he had made most of his money from investments. He advised young people to “go into debt to borrow to invest capital into something. Don’t go into debt beyond your weekly income or monthly income,” he said, but “go into debt as far as you can afford it, if you are trying to build something for the future.”


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