Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1876-11-23
The Better Times.


We were much impressed by re
; mark, attributed to Gov. Morgan, tina
under certain circumstances, which i;
mentioned, but which it is not neces
sary to recall, he did not see why the
American people could not enjoy a pc
riod Of prosperity lasting ten or twelve
years. That which impressed us was
the recognition, by an experienced bu.
siness head, of the periodicity of pros.
perity in this country. We go head.
long into business from period of de.
preston, run certain round, and then
down we go again, to rise and fall in
definitely in the same way. That has
been the history of American business
as far back as We can remember. The
question never seems to rise whether
this periodicity is necessary, or can be
avoided; but every time we work up
to crash,-to great snd widespread
disaSter,-from which we slowly re-
cover, again to repeat the old mistakes,
and receive the accustomed punish
ment.
Is this lamentable periodiciiy neces-
sary? We cannot believe that it is.
When We suffer as community, it is
because, as community, we have
done wrong. When legitimate busi-
ness is properly done, and not imprOI-
erly Overdone; when credits are not
illegiiimately extended, and specula-
ton is not INDUCED in; when. public
and corporate trusts are managed
without corruption; when true econo-
my is practiced in public and private
life, great public financial calamity,
or or; sh, is simply impossible. What
Gov. Morgan, or any other wise and
observing man, fOresees as one of the
consequences OF the revival of business,
is a development of the spirit of specu-
lation, growth of fictitious values, an
production of manufactures,
multiplication of middle men, a wide
extension of credit, feverish thirst for
large profits, stimulation of eXtrava-
giant habits, an increasing love of lux
ury. There is but one natural and in
evitable end to all these,and that is dis
ter. 1t comes just as naturally as death
follows competent poison. There is
no mystery about it whatever; and the
strange thing is, that nation of men
are so much like nation of children |
that will not learn.
The better tines for which we b We
waite d SO long that we had almost be-
come hopeless, seem to have dawned |
at last. Business is reviving. The
spindles begin to whirl again; the mer-
chant has his customers; once more |
that which is produced finds a ready |
market; and once mole there is labor |
for the work man, and bread and cloth
ing and ST elter for the labor. After the |
terrible lesson we have received, it is a |
good time TO talk about the future.
Are we to go on again in the old way,
and fill up, within limited period of
years, the old measure of foolishness,
and tumble again into the old conse-
quences?
1t is not necessary that we should
do so. We have from sheer necessity,
begun to be economical. Let us build
smaller houses; let US furnish them
more modestly; let US live less luxuri-
ously; let US tune all our personal and
social life to a lower key. We have
bravely begun reform in public and
corporate affairs. Let US continue this,
and vigilantly see to it that our trusts
are placed in competent and honest
hands. We are com:nitted to a reform
in civil service,-a Iefo IN which will
the trade politics that has
done so much to dt bauch and impov.
erish the country. Let US see to it that
this reform is thoroughly effected. Our
have tumbled about our
ears; let us not rebuild them. Our
speculatiOns lie in ruin, with the lives
and fortunes they have absorbed. Our
fictitious values have been extinguish-
ed; let US not try to relight the glamour
that made thcm. Our long credits and
our deprecated currency have wrought
incalculable evils; lee US not continue
them. Let Us cease to deal in paper
lies, and pay in gold our honest debts.
Above all, let us be content with mod
est gains, cease trying to win wealth i'm
a day and get something out of life
besides everlasting work and worry.
Fully one-half of our wants are artii-
cial, and these terrible struggles for
money are mainly for the supply of
wants that we have created.-Dr. J.
G. Holland; Scribner for December.
THE RrOOklvn 1rOlls ia q Domoorat