The estimate that at least $1,000,000 a day could be saved by the pursuit of methods of scientific management was first made by Mr. Harrington Emerson. It is submitted that, with aggregate operating expenses by the railroads in 1908 of $1,669,938,717, of which $1,035,437,528 was for labor, this estimate appears moderate.

What It Means

This is a placeholder explanation generated by the low-overhead model. It interprets "The estimate that at least $1,000,000 a day could be saved by the pursuit of methods of scientific management was first made by Mr. Harrington Emerson. It is submitted that, with aggregate operating expenses by the railroads in 1908 of $1,669,938,717, of which $1,035,437,528 was for labor, this estimate appears moderate." in the context of "United States. Interstate Commerce Commission, ‎Martin Augustine Knapp (1911), ''Evidence Taken by the Interstate Commerce Commission in the Matter of Proposed Advances in Freight Rates by Carriers: August to December, 1910.'" to mean that wisdom is timeless.