The Portland daily press., 1866-04-10
Look before you Leap.

To the Editor Of the Press:
Too much care cannot be taken, in inyesti-
eating all mGa,ias before taking great risks
The past has taught us lesson, which we
shall do well not to forget. The old saying
that "the hand of the diligent maketh rich,'
is the truest principle Of social economy,
Riches are the visible testimony of dilisent in
dustry-the tangible result of pains taking and
persistent labor. Houses, clothing, articles of
elegance and utility, public works of all kinds,
private wealth, are all products of skilful and
persevering industry. Money is only varie-
ty of wealth; it is an article representing the
accumulated fruits Of past labor. The indus
try which tends to an increase of wealth by
labor useful to society, or which aims by hon
est means at mere personal subsistence, is us
ually blest, and is at all events always respect
able and honorable. The humblest individu-
al laboring honestly for his bread occupies an
honorable position. Obscure as are his efforts
he forms part of great system of Industry.
Unfortunately there is dishonest as well
as an honest course of industry. Dishonest
industry is that kind of labor which attempts
to acquire riches at the expense of another,
without the intervention of useful services. or
without increasing in any way the general re-
sources of the country. This species of indus
try is but special variety of robbery. A man
may be very industrious In plundering his
neighbors by artifice or violence but his efforts
will not add dollar to the general wealth Of
the nation. A wrong is done without a cor
responding good. As striking at the founda-
ton of society, theft and robbery of every kind
are subject to severe censure by all wel-mean-
ing people. Two parties engage to stake a
sum OF money on the plecarious turn of the
market, the winner to pocket the stake of his
antagonist. 1t is evident that obtaining
money by these means is not reputable. The
only difference between it and robbery is, that
chance is substituted for artiice or Violence
1t is mutual agreement of two persons to
try to rob each other, the robber to be the par.
ty whom chance happens to favor. Such in,
dustry is worthless for it adds nothing to gen
erat resources
Other kinds ofrmproductive enterprise, hay,
long been practised, much to the loss ane
scandal OF the general community We her.
allude to great schemes Of adventuring mon
ey injoint stock concerns. The union of cap
ital by shares, in order to execute undertak
lngs of a useful kind, which the wealth of M
single individual could accomplish, is enc o
the valuable inventions of modern times ans
to it do we owe nearly all banks, life and fir,
insurance establishments, canals, railways
and many other economic arrangements am
institutions. But everything good is liable Il
abuse. Besides carefully considered and ever,
way desirable joint-stock projects, schemes o
the most visionary nature have been original
ed and supported. Sometimes the schemes
though visionary, were got up for no bad in
tention, but merely as aconsequence of incon
siderate enthusiasm; but in others if not ori
ginating in deception, they were continued
with reckless disregard of consequences, ant
evidently tor the sake of immediate and un
justifiable returns. They were, in fact, equiv
alent to the worst species of gambling. Tn,
avaricious desire of being speedily rich is a
the foundation Of these hideous speculativ,
manias and national embarrassment besid
individual impoverishnent, has been the in
variable consequence; yet SO little does on,
generation profit by the errors and suffering
| OF its predecessors, that mania for specula
ton has become almost of periodical occur
renee ,.a., ~ J. M. K.