The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1876-03-08
From the Boston journal.
Business Gossip.

Business Gossip.
There does not appear to he any wish on
the part of our business men that the pres
ent bankrupt act should be repealed. In
conversation with several active merchants
we find a unauimity of opinion prevailing
as to The superiority of this United States
law over the crude and widely differing
enactments OF states which formerly offer
cd the sole protection to creditors. There
is a compliant made regarding the number
of creditors and TIE percentage of the total
liabilities which are requisite TO place an
insolvent in bankruptcy, and objections are
urged against needless delay which Charac-
terize the administration of the law in some
states. We hear no complaint of this char
sctCr against the administration Of the law
in Massachusetts. The law can no doubt
be beneficially amended, and in the interest
of the creditor class in the country. The
truly unfortunate debtor who makes an
honest exhibit is never harshly dealt with
who fail in order to defraud, merit very lit
lie consideration. "The law as it is,rather
than no general law appears to be the
sentiment of our merchants.
Within few weeks there has been an
active demand for houses. To be accurate
in this statement we should say that the ac-
ivity is comparatively 50, after tue dull
ness which has SO long prevailed. There
are inquiries for houses, and as but very
few new ones have been erected within the
past two years the natural growth of the
city with the first revival of business will
absorb all the unoccupied residences
Shrewd builders have not been anxious to
build even at the low rate of labor and the
reduced price of materials. The older
builders are not even competing for some
large Jobs which have been on the market
One of our shrewdest and best mechanics,
who has built an acre of stores in his day
was induced recently to put in bid for an
improvement which was in contemplation
We met him in the street with genial
smile on his face, and inquired the cause of
his happiness when others of his craft were
wearing long faces. 81 have Just lost a
contract figured so low that after sent
it in ! made up my mind that | was fool.
The price was ruinously low | didn't
sleep wink last night thinking over the
possibilities Of that contract. | am smiling
now because | have just been informed
that somebody has underbid me, and ! have
escaped"
A very shrewd mechanic remarked re-
Gently that the cause for the depressed
condition of business was attributable 10
the fact that men who ought TO be dong
business with their own capital and at their
own risk were not in trade, but lenders OF
money, and the traders were obliged to
take the risk, perform the hard labor, pay
interest regularly upon borrowed capital,
and thus bear very heavy burden. This
is no doubt true, but there is no remedy
for such state of affairs. In old times,
when copartnership was made up, the
firm was content TO do an amount of bust
ness which the capital invested would war
rant. Nowadays firm with sixty thou
sand capital is not content to increase the
business slowly and in ratio to their pros.
perity, but having good credit they borrow
hundred thousand dollars, and so long as
the winds are favorable there is no trouble,
but when a disastrous gale sets in, il it be
of long continuance, it is the borrowed
capital which causes the greatest mischief.
The depressed condition of business is
teaching some important lessons, and though
the dicipline is rough 1t will inculcate the
danger of overriding ii without sufficient
means to justify the enterprise.
81 don't believe" remarked a gentleman
pleasant afternoon, "lhat the ladies know
that the times are dull and that their hus-
bands are having hard time to keep their
heads above water" lie was an unmar-
red man. The fact that ladies can dress
AS well as they did during the war at dis
count of from forty to fifty per cent from
prices then paid must be taken into &C
count. But all husbands do not make their
financial affairs topic of conversation at
home, and some better halves know less of
their own husbands affairs than they do of
their neighhors. Some weeks since a lady
was first informed of her husbands suspen-
sion by reading an announcement in pa-
per which she accidently took up In a store
while waiting TO have an order filled.
Whether it was pride or fear that prompted
the secrecy cannot be stated, but what can
be expected from wives in the way of true
economy If they are only silent partners
in the matrimonial copartnership? In 1857
u large jewelry firm sold costly set OF
Jewels to lady. The firm knew that her
husband was in failing condition, but the
lady had been long and profitable custom
er. When the partner ordered his clerk
not to charge the set which had been de-
livered, but TO make memorandum on the
blotter, he paid the lady's integrity high
compliment. When her husband failed the
jewelry came back with note couched in
such terms that the dealer only regretted
that gift of n set would be construed as
an insult.
The complaint that these are dull times
has become chronic. When compared with
war times the times are dull, and the pres
ent generation of traders will never live to
see return of those days. The present is
drawing upon the prosperity of the past.
The imitation of ga, '65, 'GG will never be
duplicated, and il is better for the commu-
nifty that 1t should not be. The scale of
personal expenses adopted ten years ago ia
the heaviest pressure that the majority are
bearing. The year 1875 was slow year
for business, but If we could get at the real
results of the years trade we should find
that many call it dull because they did not
accumulate. A very large percentage of
men in trade not only paid their expenses,
but by reducing their obligations reached a