The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1845-09-07

COMMERCIAL PRosPERITY-GooD TIMEs-If any
thing could alter the tune of those who are always
complaining of the times, the present aspect of hu-
man affairs ought TO be sufficient All accounts
from foreign countries, well as from the various
parts OF our own are most favorable and cheering.
Perhaps, within the memory OF any person now
living, peace and plenty have not had more ex-
tended reign on the earth. For the last halt centu
ry, until the recent revival in commercial prosperi-
ty there was no period in which something in the
shape Of pestilence, famine, or devastating war did
aflict other of the great divisions of the
old or world. In the wars ofthe French revohi-
lion, aud of the Empire, the great peninsular s,rug-
gle, the last American war, the dearth of 1921 the
financial revulson of 1926, the cholera morbus the
riots IN the manufacturing districts of England the
three glorious but terrible DAYS of the French and
Belgians, the commercial disasters from which we
are but now emerging, all these$and many more
mlstortunes have been rite IN the world, and kept
men In constant remembrance of the saying that
they are I" born TO evil as the sparks fly upwards"
The present state Of the world presents a strong
contrast to this view of the past. Every Of the
leading nations is exempt from war-an apparent
cordially exists between those which have always
been either open foes, secret enemies or rivals
abundance for the supply of their wants. and wthal,
acquiring higher elevation in the social scale as
well as more political consequence and in this fell
cious year, the elements themselves seem 10 CO.
alesce with the other causes which have brought
about this reign of prosperity. Could we but pro-
4 mise ourselves continuance Of it, the prospect
would be animating but those who have watched
the times and seasons, cannot well do this. Over
VI oLo - oh hicl,
marks the state and relations of mankind, there is
a tendency in commercial prosperity to engender
reaction-not certainly as necessary conse-
quence, but for all that constant one, because pru
dence is not exercised enough in order to evade it.
Bad times are the effect OF bad management, of
rashness and recklessness. Now is the proper
season for persons TO think OF this, and if they do
not, excessive competition will inevitably lead 10
embarrassment and adversely sooner or later.
In the iron factories Of Pennsylvania, we begin
to see these effects. Over-anxiety 10 catch the
world by the speed of foot has brought down large
and wealthy houses. Success is dangerous to all
who will not calculate and adapt their means TO the
end TO be accomplished. We fear this is but the be-
ginning, as many are above taking warning in every
branch of trade. A day or two ago, one of those
journals, which are eternally talking about tariffs
and protection, and manufacturing economy. gravey
asks, Why lift be true that the profits of capital in
vested in manufacturing are great, do those who
think so not embark IN the business but all need
be said in reply is, that if his readers acted the
suggestion all would be injured and none served.
1t isjus such folly to imagine that capital, with
out other elements, must be profitable to the owner
that makes so many mistakes be made; and he who
would seriously pander TO the prevalent errors on
This point, must be knave, or worse, if he knows
better But we suppose there is, after all, not much
use in counselngmen to move slowly and surely in
the pursuit of their darling obect-the almighty dol
| lar is most captivating leader.