Ellsworth American., 1876-11-23
Vol. XXI. Whole No. 1888. No, 47.
The Better fines.

|
We were much impressed by q recent re-
mark, attributed to Governor Morgan, that
under certain circumstances which were
mentioned, but which it is not necessary
to recall, he did not see why the American
people could not enjoy period OF pros
perity lasting ten or twslve years. That
which impressed us was the recognition,
by an experienced business head, of the
periodicity of prosperity In this country.
We go headlong into business from
period OF depression, run certain round,
aud then down we 60 again, to rise and fall
indefinitely in the same way That has
been the history of American business as
FAR back as we can remember. The aues-
ton never seems to rise whether this peri
odicity Is necessary, or can be avoided;
out every time We work up to . crash.-to
a great and wide spread financial disaster,
from which We slowly recover, again to
repeat the old mistakes, and receive the ac-
Is this lamentabls periodicity necessary?
We cannot believe that it is. When we
suffer as community, ii 10 because, as
community, we have done wrong. When
legitimate business is properly done, aud
not improperly overdone; when credits are
| not illegitiAately extended, aud specula-
tion is not indulged in; when public aud
corporate trusts are managed without cor
| 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
= development of the spirit of speculation,
growth OF fictitious values, an 0ver-pro-
daction OF manufactures, a multiplication
of middle-men, wide extension OF credit,
feverish thirst for large profits, stimu-
lation OF extravagant habits, an Increasing
love of luxury. Chere is but one natural
and inevitable end to all these, and that Is
disaster. 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 it
will not learn.
The better times for which we nave wait
ed SO long that We had almost become
hopeless seem to have dawned at last.
Business is reviyins. The spindles begin
TO whirl again; the merchant has his Gus
toners; once more that which is produced
nnds ready market; and once more there
is labor for the workman. and bread and
clothing and shelter for the labor. Alter
the terrible lesson we have received ii is Il
good time To talk about the iutuIe. Are
we 20 go on again in the old way, and nil
up. within limited period OF years, the old
measure OF foohshness, and tumble again
into the old consequences?
IL is not necessary that we should do so.
We have, from sheer necessity begun to
be economical. Let US continue SO. Let
US build smaller houses; let US furnish
them more uodestly; let us live less luxu-
riously let US tune all our personal and
social life to Ii lower key. We have brave
ly begun reform in public and corporate
affairs. Let Us continue this and vigiiant-
ly see to 1t that our trusts are placed iu
competent hands. We are committed to
reform IN the civil scrvice,-a reform
which will extinguish the trade Of polite,
that has done so much to debauch and i'm
poverish the country. Let Us see 20 it that
this reform is thoroughly effected. Oar
cobble houses have tumbled about our
ears ; let US not rebuild them. Our specu-
latiOus lie in ruin, with the lives and for
tunes they have absorbed. Our fictitious
, ,aiuv- havv Uvvt vALIuguIsueu; GeE Us not
try 10 relight the glamour that made them.
Our long credits aud our deprecated cur
rcncy have wrought ncalculable evils let
us not continue them. Let US cease to deal
IN paper lies, am. pay in gold "ur honest
debts. Above all, let us be content with
modest gains, cease trying to win wealth
in day, and get something out Of life be-
sides everlasting work and worry. Fully
one halt OF our wants are artificial. and
these terrible struggles tor money are
mainly for the supply of wants that We
have created DR.. J. G. Holland Scrib-
ner tor December.