St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1874-11-20
ST. cJohnsburn Galrdonian.
st. John~pury. VT. Friday. Nov. go. 1874.
The Depression in Business.
BY JAMES WILLIAM KI,rRALL.


BY JAMES WILLIAM KIMBALL.
On every hand we hear wonder rX-
pressed that business is 81 poor; that
so many persons are thrown ont of en-
ployment. BY some. this state of things
is referred to the panic in Wall street Il
wear OF two since: by some it Is declared
to hc an inScIltable mystery. The
hecdful consideration OF Il few facts will
relieve the matter of mystery, and show
the wonder to he without reasonable
foundation. Business is said to he good
when there is ii quick and steady de
mamd for all kinds of merchandise. and
for labor at rcmuncrating prices. For
Il limited time, and in sections of Il
country, and i'll some kinds of merchan-
disc, business may he good for the job
Der. o. the retailer. when the mcIchan-
disc is selling at prices unremuncrating,
OF even ruinnu>, to the producer. The
complaint now i that all business Is
dull. Merchants. with rare exceptions.
Nerywhere tell us that they are doing
very little, or that what they are doing
is unsatisfactory.
Fifty Years ago dealers in dry goods,
groceries. drugs, hardware, etc, etc,
were content to do their business ut Il
rent of $500 To 5000 IL year. Their an
nual sales ranged from twenty thousand
dollars to two hundred thousand. aV-
erigimg much nearer the former sum
than the latter. Their business WAS
done entirely i'll their stores. and the
supply waited on the demand. This Is
the normal and hcalthful condition OF
mercantile and other business. y mod
crate business. carried on under the
close scrutiny of tn" proprietor, aSSilln-
ing that he has fair competency of ahil-
itN and of money for his undertaking
gives promise of reasonable remuncri-
ton, and of gradual moderate accumu-
lation. And this moderation tends Il
the preservation of that equilibrium IN
the community which guards the com
mon veal. But they that TW he rich
fall into temptation and IL snare, and
int" many foolish and lurtful lusts
which drown men III destruction and
perdition. 1t is not that riches il
themselves are of necessity, and always
colIupting: but setting the heart upon
them is. lie who does this begins ii
once to disturb the equilibrium. and t,
inperil he fortunes of those who haV,
II" such desire.
The process is simple and palpabi'
To every Intelligent observer. The am
bilious man must increase his business
he must have the lOad-Star i'll his store
Hnder$ciiiHg Is that l0ad-star. lie ha
onl to disseminate the fact thai h,
sells his merchandise at lower price
than his urighhulS can or will, and tn,
current of trade Is diverted from a.
other >luiccwavS To his own. Ii is no
to bc supposed that merchants vii
thus surrender their business without
struggle. The struggle once hegul,
YOU may see witt half an eve, will z
on. and on. Tie result will he deter
mined 10y the natural gifts, aSSiduity
and the power of endurance of thnS
engaged in it. But there are other fac
tors inevitably entering into and quail
fying this contest. OF course no cNpc
dlent perceived 10 he fitted to attrac
The golden tide will he left untiicd ol
either side. Blu while some men vii
hoard their gain, with misery penuri
ousne>S. others will eXpend lavishll
and III doing this contriNe perhaps Il
advertise the attractions of their buSi
ness. 1t Is this that has built palatia
stores, provided Il host of clerks. mo
nop"ized the products ot mills. bull
palatial dwellings. raised the price -
Labor, divided and sub-,liVidcd that la
Dor. the willing compelling the unWill
ing. until the entire community have
been forced upon Il rate of eXpcuditur,
which fifty years ago was incOnceiVahlc
Ii is this which has been sending drum
merS to every town, village and cross
road III our land. from end To end.
business is now dull and umrcmuncr
alive, simply because this game is, fo
the time played out driven into tn
ground. The supply has greatly OK
cccdcd the demand. From end to- en-,
our land has been flooded with mcI
chandIse. The anaconda has swallowe'
the ON, and must have time to dige-
1t. The mills are running on shor
time. hecauSc there are too many q
them. Every man no has built u
hired II costly stone OF dwelling, ha
forced his unwilling ncighhor to do tin
SAME; has laised the price of living am
cost of labor: has diminished the prof
on every pound of flour and butter
dozen of eggs. and yard of cotton. am
80 reduced tn" income from which "
live. We are left with greatly increase
=" ''ii''- ~
meeting these expenses. Nor l. thi
all, nor the worst of it. What we one
secured 10y Il prompt and good humoIe
supply to moderate demand. is no,
sought and obtained by recourse I
sharp practice, 10y degrading aggIessiv
warfare. 10y IL relentless absorption tina
leaves neither time nor mind for cult
walton of intellect or heart. There la
been Il subtle process of demoraiizHtiu
going on. Il lowering of tone, II harder
ing of the heart, rendering the gospel L,
Christ to a great extent imperative.
With all this our people are actual
selling their birthright. alternating the
acres to men of other lands. who wi
not give in to the extravaganza of ou
countryman. All that is required
the way of remedy it may not be cas-
or possible tn state. One step is ohv
Gus: viz, to repudiate all extravaganza,
to avoid needless expense to chcris
simple habits and tastes: to cease en-
ploying others to do what we can an
ought to do for ourselves: to make
more careful and comprehensive cons,
Grafton of ourselves to Christ: To see
first the Kingdom of God and His righ
eousneSs. CongregationdiiSt.
A Love Affair of the War