II- 5
tempered the continual demands financial need: its growth
and evolution influenced Edison's search for operating
funds.
Edison quickly spent the fortune made electricty. Buying fine house and building great
laboratory, equipping with supplies and hiring the labor
probably cost Edison close half million dollars the end
of 1888. The
operating costs the laboratory alone were around $80,000 per
annum— considerable sum the 1880s when the deflation of
Q
the Great Depression gripped the American economy.
The profits from electric lighting were held Edison's bank
account with Drexel Morgan. Edison also assumed the costs building and
equipping the Edison Phonograph Works. Edison's strategy for
his laboratory was grand one and was the financial burden
he had carry: "The Lord only knows where get the
O
shekels— Laboratory going awful pull me."
After making the initial investment the laboratory
Edison still needed steady flow cash maintain large
work force and cover the day-to-day expenses R&D.
The first source finance for the lab were the
. Throughout 1888 and 1889 this was
continually depleted pay for the establishment the West
7
Orange complex. Edison
hoped avoid using his own money operate the laboratory,
declaring that "it part the inventor furnish
m was Edison's intent cover all the costs the
laboratory selling its experimental services
