Leasing Instruments a Far-Sighted Policy
These lectures are important for another reason than that they solved a temporary money problem. They obviated the necessity of selling telephones outright, instead of leasing them so as to retain control—a policy Mr. Hubbard afterwards adopted which made possible the splendid universal service Mr. Vail with your help has given the Bell system to-day. Some of the ladies deeply interested in the immediate outcome were strenuously advocating at this critical juncture making and selling the telephones at once in the largest possible quantities—imperfect as they were. Fortunately, for the future of the business the returns from the lectures that began at this very time obviated this danger.