, 1877-02-18
Beecher's Lecture on the Great
Topic Of the Hour.
The Cash System a Bad Founda-
tion for Commerce.
Expansion Very Easy; Contrac-
ton Extremely Difficult.
Jay Cookies Bubble-.-The Northern Pa
cific Railroad.
Beecher and the Tabernacle.


crowd at Mccormick Hall lsat evening to hear
Beecher III his last lecture. The raised seats on
the platform, which were throngcd last Mon
day evening, as we'll as the extra scats in the
body Of the hall, we're nowhere visible last
evening. There were, however, few chairs on
the platform, OF whose few occupants the most
prominent were two bald-headcd old gentle
men In velvet caps,-one at each side Of the
platform,-Aauking the lecturer, as it were,
and lending grave and reverend air to the
occasion. Whatever may hare been the Tcn~
son for the forethought OF the managers,
it became apparent that they had calculated
very correctly the probable numerical strength
of the audience. The hall, instead Of being
jammed as 1t was at the first lecture, was only
comfortably full. Perhaps it was the tendency
Of people to stay indoors Saturday nights that
was responsible for this; at least such was the
reasoning of thosewho did venture out and who,
of course, listened to most entertaining lecture
as reward for their pains.
It was quarter past before Mr.. Beecher
made his appearance, accompanied by Mr.. Car
pentcr, who, q few minutes later, performed the
somewhat unnecessary task Of Introducing the
great preacher to the audience, with the an
nouncement that he would lecture on topic in
teresting to ALL Hardr imes.'
Mr.. Beecher was welcomed with deserved ap-
plausc. He commenced by saying that the
present commercial crisis stood out more pre-
cminently in contrast with the great degree Of
prosperity which had preceded it, rs well as by
the obstiuacy with which it remained. There
seemed to be no remedy, and very lew had been
able to give any satisfactory explanation Of its
origin and extent. Some had attributed it to
,ro-.nrodur.;on 4 little overnroanction there
80. ,.,,o 49,. h,,+ +h.t e,,ro1r ,,ust hare
1''sn. Aa'e oee"' '"s '.
thing and some to another, bat men had finally
settled dogn to the view that the cause was
1,.,n+ ~ confdcoce II w,s admitted that there
"AA' ~ .. h,,t ,,a,, e.,;i; +b.+ +horo
"as ooues euou;:' o"' ~ ..-r 49, ..s -,
WIS want OF contidence-as though counsel
of nbysicjaus we're to stand around a dead man
and sonc one would say that he had died from
ana ,;,o ,thsr. would sav IT. vas some
one o'stase W.. Tn'.e -, ,ncr would conrc
it. t vas @ auite certain that the man was dead for
want Of breath Taught But how came
49,. 1os. - ,.ont;6cnce. Rpfore this CONNER
tnis 'oee ~ .ona1. 4a| 49,, sr,oa ~ oraot
l Sdanes 'e1 prosperity It belonged to the nature
Of commerce to be conducted on credit,
.,a commerce WAS subject from time to time,
Auu WI ~o -or,,1a.,~ rec,,rr1no ncrods. tn
Iene1a,s @ aso,an- o. aaa nsnr.msn wonld sav it
was great deal better
TO HAVE NO CREDIT.
But suppose 2 nan couldn't pay SngnI ne 10 Hot
60: Was this GOOD economyf nasnt lAe
requiring young man. learning inc traoe ot
carpenter. to earn E chest OF tools and pay ior
| them before be could use them: Inc ansolute
cash system might be well enough IN respect ~
| a man domestic economy, bnt III SO laE u eon.
mcTce Wae Sonee.nca re +s II W. ~ W;t,' cvcrxthiner
| Oh cash basis. the bad man could GET Us nuch
as the good man. But with credit: man
OF aptitude Judgment, patent perseverance, ,
industrious sk and on1@ay o1 crcit was
deed, moral discrimination premium to a
| Young ma1l to gTow up in good. moral cnafac-
ter. But it wls true that there conia DC an
| abuse Vi the credit SYSTEM Entnusiasu ~
t business grew: everything went on s"mmnE
| II. Mem got warm in business, and began 10
| blow solr-hu5blcs aud see heaven through
| tllem.-perhaps the only time thcy ever
| did see it. LauEhfer.F lhen stnsne !,
began to be 1crtnco 3;+ o. oouot.n, srot.,a
! ncrmeatctl the whole community. But the
| creii, and the pay lines hal been varying theil
| relations. Suddenly something disturbed Inc
| community. what haPpcneo tnen! a .;n, 'GaI
| of great Uncertainty; pay INC that thol o"est;
| Laughter. And so 1t went through rue l "uolc
country, every man putting ms manu- ~ go g.,
! body else|s throat 2nd deinaau!us l'ae h.en
| [Laughter.I This thing happened ABOUT onee
| In every ten years. Cool, CONSERVATIVE nut. a.
| might hot get excited, ior tnat "as s,.ies ~
their nature: But when ~,,c;ai e5,1se' 11ea'
OF this nature fell On pustnng: msseuta et.as peH,
PIE + vcrx qusSy eht be looked for
once in about ten years; IN & New Lnslanhu ~! u.
about twelve or fifteen; in England perhaps
| twenty; and in Holland, Nhere Tue! y elc nese1
excited, perhaps once IN ~ seaFsi IT, iatn VA
| After thc first year OF two OF the late "a!,
| sudden ironetus was given to industry. lne