Edgefield advertiser. [volume] (Edgefield, S.C.) 1836-current, 1871-08-31
Extravaganza Among Business
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Extravaganza Among Business .
i'll WA rIgsMen. d G.1Q 4
Extravaganza in living is rapidly
I becomingfhd besetting SIN OF the
population of all our large cities. In
fact, it is getting to be one ofyepr ma
!, tional characteristics, and even for
eigners who visit us, and who are
familiar with the luxurious habits of
lthe;apper classes IF European 'socie-
ty, are astonished at the reckleasness
withywhich the people Of this coan-
try nowadays spend their money
isM'I In this respect, things are different
with us from what, they were in
. former times. tin es The days, of republi-
can simplicity and frugality, when
our fathers were. content with the
gains Of legitimate business, and
honesty among the commercial class
t Is Was " the rule rather than. the ex-
ception, have given place to an era of
fast living, as well as Of, fast methods
Of acquiring wealth. But the great
trouble with us is, that The personal
and family expenses Of q large, por7
ton Of our business men, during the
last few years, have increased much
faster in proportion than their means
of indulgence. -
Formerly, the partners of every
awellsto-do'f mercantile firm were IN
ths habit of allowing a large portion
Of their annual profits to be rein.
vested as additional capital in stheir
business, and of living plainly and
economically upon the balance until
able to retire upon competency.
Now, every young man, as soon as he
established in business, in
order to secure his eaatree intoseciety,
must affect a princely style Of living,
compels him to spend all his
income, and sometimes to zencroach
upon his capital
It is noEoriousfact that, since the
close of thgwas 18th. the great fall
ing off ii business profits consequent
upon the general shrinkage of values,
a great many merchants and manu-
facturers have been living beyond
theiriincomes. They know very well
if they-cnntinue to 60 on in this way
they VIII soon have ruin and bank
ruptcy Staring theminthe face. But
they prefer to run the risk, and trust
to better times, or some lucky stroke
of speculation, to retrieve their for
tunes, ;,' i rather than retrench. They
are men of the world, courting popu-
larity and dinAuence, whose wives and
daughters move in the. charmed eir-
Gle Of fashionable society, and they
cannot bear to give up any portion,
however, 7triaing, Of their outward
display Of .opulence, forfear of losing
caste.
!, : The course, of eYentsr during our
late war is unquestionably, in a great
measure responsible for this prodi-
eality. That era of successful specul,
istion. and. enormous business profits
Generated those habits Of popular
exttaYagance which we now find it
s SO difficult to shake Off: During that
era the sudden creation and .redistri-
button of ) wealth brought many, per
sons to the surface who had no other
means of winning their way to popu-
lar1ifayor than BY an ostentatious dig,
play of their riches. Hence they
made the most Of this alternative,
and set an example Of lnxurious liy-I
ing which every successful business
man has since been: too ready follow.
But the time has come to break
away from this pernicious custom
not 50 much for the sake of personal
saving in the case of those who are
ableto followit up, as for the sake
of the public morals, Of the welfare of
the rising generation, and OF those
who are being lured to destruction
by the tyraany,o fasipn; and the
force ofjexample. Considerations Of
the highest patriotism demand that
some personal sacrifices should be
mads to encourage economy among
the masses, sahd in order that, as a
nation, we may get back to thatpath.
way of thrift, business integrity and
solid prosperity. whence we have de-
waited. ,.fs
The time has gone by when for
tunes can be made in a day. The
bubble Of imitation. has burst, and
fictitious wealth, of &.ll descriptions,
is rapidly disappearing OUT OF sigEta
Hercefortlr we must be content to
live hv. the gains OF honest industry
and legitimate trade, and these gains
are likely to be small for some time
to come. The mass of consumers are
overburthened with taxes, their wa
ses are being reduced, and in the
practice of rigid economy they are
obliged to make virtue of necessity.
But if, while suffering these hard
ships, incident to return to the
normal base, they see their employ
ers still rolling in luxury and con-
tinuing to indulge in habits of reck-
less extravaganza, they will begin to
foment disturbances leading to wide
spread popular discomfort, and very
likely precipitate a ruinous conflict
between labor and capital. The low
muttering of the thunder can al
ready be heard, at no great distance,
and the storm may burst before we
are well prepared for it.
economy upon business men, also, for
their own safety. We know very
we'll that majority-particularly
the younger portion of them-cannot
afford to keep up their establish
ments and live in their present style
IL Cd III