Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1876-12-01
BRATTLEBoRo:
FRIDAY EVENING, DEC. l, 1876.


The BETTER Times.
We were much impressed by a recent re-
mark, attributed TO Governor Morgan, that
under certain circumstances, which were
mentioned, but which 1t Is not necessary
10 recall, he did not see why the American
people could not enjoy period of prosper
ity lasting ten or twelve years. That which
impressed us was the recognition, by an
experienced business head, of the period
icity of prosperity in this country. We 60
headlong into business from period OF
depression, run a certain round, and then
down we go again, to rise and fall indefi-
nitely in the same way. That has been tho
history of American business as far back
as we can remember. The question never
seems to rise whether this perlodicity is
necessary, or can be avoided; but every
time we work up TO a crash,-to great
and widespread financial disaster,-from
which we slowly recover, again TO repeat
the old mistakes, and receive the accus-
toned punishment.
Is this lamenlable periodicty necessary?
We cannot believe that it is. When we
suffer rs a community, il is because, as
community,,w have done wrong. When
legitimate business is properly done, and
not improperly overdone when credits
are not ilegitimately extended, and specu-
lation is not INDUCED in when public and
corporate trusts are managed without cor
ruption when true economy is practiced
in public and private life, great financial
calamity, or crash, is simply impossible.
What Governor Morgan, or any other wise
and observing man foresees as one of the
consequences of the revival of business, is
the development of the spirit of specula
ton, a growth of fictitious values, an over
production of manufactures, multiplied
tion of middle-men, a wide extension Of
credit, feverish thirst for large profits,
stimulation of extravagant habits, an in
creasing love of luxury. There is but one
natur1l and inevitable end to all these, and
that is disaster. 1t comes Just as naturally
as death follows a competent poison. There
is no mystery about it whatever; and the
strange thing is that nation of men are so
much like a nation of children that it will
not learn.
The better times for which we have wait
ed so long that we had almost become
hopeless, seem to have dawned at last.
Business is reviving. The spindles begin
to whirl again the merchant has his Gus
toners once more that which is produced
finds a ready market; and once more there
is labor for the workman, and bread and
clothing and shelter for the labor. Amer
the terrible lesson we have received, it is q
good time to talk about the future. Are
we 10 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 consequences?
1t is not necessary that we should do so.
We have, from sheer necessity, begun 10
be economical. Let us continue so. Let US
build smaller houses; let us furnish them
more modestly let us live less luxurious.
ly; let us tune all our personal and social
life TO a lower key. We have bravely be-
gun 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 committed TO u
reform in the civil service,-a reform which
will extinguish the trade of politics that
has uOlt bO IIuCh " ucDduGh AuipoN
erish the country. Let us see to it that
this reform is thoroughly effected. Our
cobble-houses have tumbled about our
ears; let us not rebuild them. Our specu-
lations lie in ruin, with the lives and for
tunes they have absorbed. Our fictitious
values have been extipguished; let us not
try to relight the glamour that made them.
Our long credits and our deprecated cur
rency have wrought incalculable evils; let
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
modest gains, cease trying TO win wealth
in a day, and get something out oflife be-
sides everlasting work: and worry. Fully
one-half of our wants are artificial, and
these terrible struggles for money are
mainly for the supply of wants that we
have created.-DT. j. G. Holland; Serb
ner for December.