The Republican journal., 1875-05-20
Hard Times and Their Cause.

The Bangor Commercial, Il paper which
has given many reliable statistics in re-
gard to the industries and products of
Maine, and valuable suggestions TO those
who produce the wealth of the region,
has the following regarding the present
business depression
Men seem bewildere,l now Business is pros
trate. and there are almost many causes as
signed for the prostration rs there are thinking
men. Ask the most tar-seeng when there will
be Il revival of business, and they shake their
heads in doubt, and give no assuring answer.
In one view present prostration is without
explanation. The crops of last year where eX-
traordinarily abundant. The general health of
the community was unusually good. Good
health and bountiful crops ought always 10 be
the foundation of good business. Still proStra-
ton we have in a most depressing form.
We have our own theory of the disease and
the remedy, and these we will endeavor to
make clear to our readers in the few following
paragraphs.
The profits of industry. for any single year.
even under the most favorable circumstances.
must always be small The total increase of
property i'll these United States since the torma
ton of our federal Government. including all
our acquisitions of territory and all the riches
brought hither by immigrants. has not exceed
ed five per cent. Il year.
The great mass OF the earnings of mankind
are consumed rs they 60 along. The amount
Of their annual savings is always very small
compared with the amount of their annual eX-
penditures. II is now 30 years since New Eng
l;tnu was setlled; ana YET, strange ana startling
as the announcement may seem, all the savings
and accumulatlonS of those two and Il half cen
tulles would not suffice to support her present
population in their present style of living. with
out further production, for three gears. The
proposition seems starting, and sui 1t Is true
The assessed valuation OF Maine is about $500
ooO,ooo. Its population Is 626ooo That Is about
S'''0 to each lnllabltant. " uld That amount
s"" ole our ou n tht III omLi Ien
| hundred years of the united savings of a pop
Snlute Observation-Disclosures. - = '''' VI '''
And here 1t i proper to present another fact
yrr>iiy is very small and narrow. If The pop
,h :" odhn , i ne az te er nt e' H. ., r
suit is prosperity and contentment. Let that
,nh tbn raan j. nnnn,"nt nd hord times
If too large proportio,ni. of the country be-
w. This MARGIN Of two Der cent WHEN divides
prosperity from diversity speedily disappears
facts and ayioms, are casiN accounted for,
There are IN the country too many non-pro-
Taxation is too high. Inaword. we are spend
il,S ana consuming i'l1'r il'an we afE ea,ils
of industry.
Eva fI "a ,.," rftra t,, = no" au'
Our own state taxation is six times as great.
wa. % , n. , , ,l,ir .eS -
ton beside the observations we have above made
ana an th narra ,ar,fin Nh y" ,,ion
perity from adversely. Is there any difficulty
general business ~. nroltrtionl '''''' ''''''' -
This is truthful and suggestive. Itmeans
that we are liyinc too fast II means es-
peciallv that the useless and wastctul ex-
travagance of Government should be
checked. The administration of the af
fairs of Government has nome to he on
travaoance runnino wild Tho hor1as ot
ida and usolees nt1;oo. ,ollors ara sin,nl,.
o,+;no ou+ 4ho a,,1,a+oo ~ a., aoo,la
-, 49,.
nrodio,,;tv is addo1 tbo ,onl- d;sbonastv
- n,a ,,,,,;.,o, 1 o.. ,-, o,,,;,
d1os tho .+,+o ~ th;,,o, ,,.,o., .;,,,,,,
,,nona,r,l1o
r. :, 1,, ....,...,...