The Hawaiian gazette. [volume] (Honolulu [Oahu, Hawaii]) 1865-1918, 1877-04-25

lou will ask your father or employer, Nhat
the lUe Of 5islinesioo between regular business
aud speeaatient" aud be viii probably tell you
that " the greater the risk the greater the spec
uls,ion": aud yoa will reflect; Well, II risk
makes business speculative, | don't see Why all
business is not more or less speculative but bust
ness has the curse OF labor thrown in. Why,
thea. is il not better to take the chances pure 1
and simple, aud leave the labor TO those who Ike |
1t y When you have reached this point IN the |
arguments my young gentleman, and my Young
ladies alsc-for speculative lsdles are plenty on
California Strees-it may save you Ute OF c's,
appointment. debs. ruin, very likely Of crime aud
disgrace. to have heard aud remembered the prin'
eiples would impress upon you to-day.
WHAT Is BcsiNESs'
What DO you mean when you speak Of business!
Etymolocically considered, the word means busy
neSs-anythlng one may be busy about. but
you know you may Do busy about play, or study
about horse,raee. or fishing excursion, or ben
I evOlent work yet these or not " business. Tue
/ idea Of Working with baud or head not only Tor
40 object, but Tor one object only, via money,
or its eQsivalent. is iaseparable fcom the common
use Of that word. at leaS, in commercial circles,
| | would de6ne business, therefore, TO be the
equivalent which one renders 10 the world tor bus
I living" Now it must Ire remembered, that the
| rich by inheritance are but small Poruon oil So
l eiety, especially IN new country ike California,
The great mass are aud must be, the architects
o, their own tor,unes-ioilers, producers. d'str''
bu,ors else how could society exlstl Consider
nov their numerous avoea,ions, There are farm
ers, laborers, mechanics, professional men. spe-
eiaisis. miners. fishermen, graziers; there are
! sailors, Ship-ownsrs, merchants retailers, manu-
faeturers there are railroad men, steamboat meo,
Telegram, gas, water. bank, aud insurance men.
Now do not each Of these in their calllnss give
the world an equivalent for what they maSeI
Take the farmer. Tor example. dc gives the
use Of his land, his time. skill seeds, tools, aud
hired labor Us an equivalent tor the price OF hts
crops The laborer gives his tue aud wo'k as
the price Of bis wages. The same is true OF the
lawyer, the doctor. the teacher, the trained ma
ehauic, whose skilled service IS fair exchange
Tor salary or fees. The manufacturer gives hts
raw material. the use Of his machinery and bald
inss, snG hired labor for the price be receives
for bis fabrics The commission merchant eS-
changes the use Of his location, capital, know
ledge Of trade, add advice, tor his commissions
The Insurer sells protection against risk Tor TIE
premium he receives. The money-lender gives
the use OF his mouey as the equivalent OF the 10
terest. The landlord exchanges the use Of land
Of buildings for the rent. The importer earns
his profits by the transportation OF the cargo, 81
his risk and expense, to the place oil sale. The
jobber. who buys the cargo, earns the pront be
makes by furnishing to the retailer The goods the
latter requires in suitable. small lots, instead OF
leaving him to pay higher price by attempting
two Is OF business himself The retailer earns
his profits by the same process 90 smsllas scale.
And So il is with the railroad, the ship-owner,
the telegraph, the express, the miner the fisher
nan. the hatcher. the baker. the pateDtee, the
author. editor, and publisher. Depend upon it,
there IS no legitimate business in which an
equivalent il not rendered Tor the profit OF that
business" Hence the definition. that business
Is the equivalent which one reudess to the world
for his living"
THE WORLD DOES NOT OWE YOU LIVING.
CAud here allow me to remark, parenthetically
that there never was graver error than is eI'
r pressed 10 the commou saving. The world owes
me 4 living" The world owe you living
Why! How? The world owes you nothing
I that you do not buy and pay for! There are nc
rights without duties in civilized society. With
what measure ye nete, it shall be measured uutC
: you sgaIu" Your right to living depend:
9 upon the equivalent you offer for that living
:. II man will not work. neither shall he eat
r Let those who claim exemption from this rule
be content with the fare OF prisons aad aims
: houses. from yas, -bs L--- tx advantages >
!, q superior education, Is due TO the world more
d than from Others, by how much your opportuni
ties are superior TO theirs. and your reward
: should be proportional to the yalue Of saperIo
I ssryics.)
. BUSINESS Success NECESSARILY SLOW.
Now, tss burden imposed By this uecessit!
i. Of paving ID work skill, experience or otherwise
a for all Ee make. especially 10 view OF the cur
n taIlneuE of profits by competition, which hns:
/, the market price il not DOLLY grieSous to b,
borne, bat it exhaHsts the lives OF the vast ma
iority OF the race before thsg have been able Il
accumulate competency. Ia fact, when We re
member that the average EeIlth OF each IBhaoit
i ant OF the United States Is less than 81 900
as shown By statistics, II Is evident that th,
greater sccGmuIatious of the very few must b,
balanced by the absence Of aay f0rtGre sha;sys
=flh the vast majority. For every miliouair'
there must be loco pennLsss. OF 1000 viii
ouly $500 each AT best. the process of acqai
Il siti0a through legitimate business Is uecessar
d slow. In youth, the trade or calling mqst b
= learned hy lorg apprenticeship Other year
Of poverty, want Of employment, oe poorly paIa
work must follow, ere full wages can be com
nandsd by the established reputation of th,
P young aspira1t- Then follow thousand risk;
ot 10 his growing capital, but few Of shich aimi
! OF either insurance OF Average whereby To
y gatherings OF years may be swept away. An
this brings into view the great question Of risk
i by which It Is customary 10 measure the differ
q eucs between business and speculation. ThI
O. attempted distinction, commonly. though vagusl
e IL it exists ID the minds OF most men, Is an error
e not ouly serious bot Often fatal both 10 the pros
u perity and the morals Of the business man.
Of RISK Is NOT TIE ruCCEsTOSE OF sPECULATIOS,
II For Asrs is no 5usissss Without risk Man
Is 4 California farmer mas struggled for year
against the constantly recurring casualties OF hi
q calling while all his efforts have resulted only i
J. debt The merchant must rake risks OF mar
ksrs of credits Of Currency. OF governments,
Dc Of his oEu Judgment, besides those Of IRE All
J. the seas, aSaiusr which he nay insure All mia
Q, ing operatioos are extremely 1ucsrtain- Tn
d nouay lender must occasionally make bad loan
J. Banks vii break insurance. Companies will fail
Fisheruan's luck has passed iat0 proserh
y There uay be gLat ia the labor market, tight
!. ness Ia the moues market, detective titles Il
N real estate, peuIs Of dishonesty and litigation
a. everywhere.
ID Yet oGe dreams OF stigmatizing farming
u tradirg. Shipping. mining banking, insurance.
81 fishing, or a5oring for sages, specaIatioas-
re Il Is. thea. the -grss Of risk ouly which mark
IT the speculation Clearly not New Betforl
Is was not deemed speculative city IN the paluI
1f days Of is whaling prosperity, though 90 calm.
y can be more hazardous than that Of the whale
a man. The manufacturer OF gunposdsr or IRE
70 works or matches or chemicals IL not desmss
q Speculative. though these works are all momen
O. tarily llAhls TO sYrlosiou The making Of cottoI