The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-01-12
CENTENNIAL CONTRASTS.

bank dividend, which gladdens the poor,
and, though the rate at best be small, it is
enough to encourage economy.
CENTENNIAL CONTRASTS.
One of the important points of contrast
between the days of 1916 and the present
time is fourd in Wall street. When the
declaration of independence was signed
there was not bank in America. 1t was
twelve years after peace had been declared
before the first cotton factory was built.
Let us now look at the immense world of
finance and see how many terms are in use
of which our ancestors were ignorant.
Another point by which to measure centen-
NAL growth is by the record of crime.
What stupeDdOus developments of deprav-
ity mark the progress OF the age. How
many crimes now occupy our police of
which our anct stors never dreamed. Here
are 'safe-blowers," check raistrs' and
other ingenious practitioners who show
how readily the inventive genius Of the aye
may serve the basest fraud Even the dy-
namite fiend is said to he AN American
The army which now lives upon the profit
of ingenious crime G ntatns greater
number of men, and vastly more talents,
than was at any time to be tourd in Wash
ingiou's army. The determination, tue
skill, the patience and the fertility of in
veution which are shown by this desperate
class are among the wonders OF the day.
HALF CENTURY RErRosPEor.
While this year is distinguished for its
centennial associations, it has also an i'm
portance in its sem-centennial retro5pects
1t is (or will be July A. half century
since the death of both John Adams and
Thomas jefferson, who were among the
leading revolutionary presidents. This
event occurred during the administration
of John Quincy Adams, who was the first
president that had not been in service
during the revolution. We thus see that
the first half century of national history
witnessed the general retirement of all
who won note during the great conflict.
1t was at this time they beQueathed the ma
tional destiny to their ancestors. There is
another point of semi-centennial remnis-
cence. 1t is Just fifty years since the cul-
mination OF that intense pressure which
swept Great Britain with destruction. and
which was also felt keenly in America.
The termination of bloody and expensive
war has preciptated our country into
series of calamities which for ten years
have been reaching their severest point In
similar manner the conclusion of the
Napoleonic wars brought commercial re-
verses in Great Britain which were ten
years in reaching their elimination. The
lavish expenditure of a long struggle gave
an impulse to industry which was followed
by reaction of tremendous character.
The rebellion closed in 1865, but how
little did we dream that its consequences
would be felt in 1876? We might. how
over, have learned from history that while
the fall of Napoleon occurred in 1915, the
full effect of the reaction was unfelt until
1896. Ii during tho o-aeli ,vtioh tro,,
shook the commercial circles of Great
Britain that the printing house CT Banna-
tyne Il Co. failed, carrying with it the
entire fortune OF Walter Scott. The fnan-
cial ruin of the greatest author of his day
was therefore consequence of that war
which he so ardently supported, but which
so many now consider a national blunder.
SCOTS failure was proclaimed in January,
1S26-just fifty years ago. Failures then
were almost universal IN Great Britain.
The authors prosperity was in no small
part due to the war initiation. Waverly
was published in 1914, and the next year
appeared Guy MannerIng The other
splendid romances followed in rapid sue
cesson, but the sales were greatly dimin-
i>hed as the pressure Increased. This fact
the Bannatynes concealed IRON the author,
lest it should abate the fire If his genius.
This a. nrnIspnp II IL At. -,
After The storm broke upon him Scott
never wrote a first-cass bouk He rose and
fell with the Initiation If The day. The
great authors failure was the central point
of interest in the widespread misfortune
of the nation, but out of it was developed
the full majeSly of his character. We
might have louOred the literary genius of
the man, but we could never have known
the grandeur OF his integrity. Amid all
the desolaiion connected with lhal lime of
wreck and rum there arises the ] ssus
of simple honesty. This l. one 1T the most
sublime spt C acte- in Bit sh lis cry FIR
six wears ne all coi queri re- m nj
which implied him Inrnu-h e ! NJ
dTudgery, was. ~ eX re-.-d ! tns osn
sim L. language, IN one shall ps, any
thing BY me" Tuose WHO Wv Ia. pam.
tul picture in It's details vii ndml, suni II
was no small conp-usa lon In sorrow
# the time tina Il = the world .uch /. T.
esty as Ibat OF Wal er S., tt. p III p ut
of our present I'll a-lrr llerr may also be
dew, lopmcnts OF lofty cha ac'cr, winch
shall in some degree COM sa t for mis-
fortune.
HEAVY FAILURES.
The extent which modern bankruptcy
sometimes reaches is appalling, but our
heavy failures do not much exceed the dis
asters of that period TO which reference has
been made. The publishers, Constable &
Co., who issued the Waverly novels, failed
for f256, 900 sterling, equal to more than
81 ,0G0, 600. No book house ever before or
since has reported such tremendous loss.
On this they paid thirteen per cent, making
dead less of f224 600. The book AMI
job printing firm of Bannantyne Il Co. fol-
lowed' Constable's track, and failed for
Gl17,OOO. Never has printing house ex-
hiblted such an lmmensity OF debt as this.
The aggregate deficit after realizing the
available assets WAS equal to about half a
million of our currency. Had not Scott
been a partner in this unfortunate house 1t
would have gone through bankruptcy and
been forgotten. Such, however, was not
the case. 1t is just half century since
the world beheld a man of fifty-five begin
the task of paying half million by plod-
ding brsin-work. Six years afterward it
heard of his death-preceded by mental
paralysis, which left him almost In second
childhood He died, however, cheered by
the happy thought that his debts were paid.
Honesty survived genius.
REMARKABLE FEATURE.
1t is certainly remarkable that at this
time OF depression the annual pew-renting
at Plymouth church has brought sum so
much above the highest estimate. The
sales declined to $666S0. How many