Northern tribune. [volume] (Cheboygan, Mich.) 1875-1885, 1878-05-04
SATURDAY. MAY 4, 1878.
THELESsoNs on THE rAsT.

rise, and it mGttered not what person
invested in, he was sure OF an advance.
This continued until the close of the war.
Speculation ran high throughout the
country, and everybody was doing
business equal to the extent other cap
ital and credit. So long as prices were
on The advance this was well enough,
and the country was apparently at the
high tide of prosperity. But SPECULATION
OF the war the tide began to turn, values
commenced 10 have downward renden-
cy, and those.who had not foresight TO
see and preparation the decline were. after
few years OF hard struggle against the
tide, obliged TO succumb, The reaction
eliminating in the crash OF 1873, when
men and corporations which had been
considered among the soundest, finan-
clally. Went down in che storm that swept
the country. Since that time, the times
have ben hard, and year after year has
recorded the wrecks of fortunes. anG the
speculative spirit incucated by the years
of prosperity only served TO make matters
worse. Men, thinking to retrieve their
losses'by some venture, were led to in
vest in promising schemes, and not only
invested their own funds, but unfortu-
nately the money in their trust belong
ing to others, and, in many cases, TO those
who could i'll afford the loss. The VEN
ture proving fallacious to their hopes,
not only brought irretrievable ruin upon
themselves but also to those whose con-
fidence they had betrayed.
The lesson of the past should not be
lost, and if the misfortunes of these years
of hard times shall be needed by the
business men of the country, and lead
them to do business upon safe and
economical basis, it may be that in the
future the nation will be all the better
for having passed through these financial
straits. 1t is the general opinion that
the bottom has been reached, and that
the tide il again about to turn for the
better. From all sections of the country
comes the cheering intelligence that na-
ture promises an abundance this year,
unequalled in our past history. The
Dayton, Chic, Journal says: ''The fruit
trees are covered with fading blossoms
or loaded with young fruit. The wheat
in many fields is two feet high. The oats
are growing vigorously. Harvest will
be from fifteen to twenty days earlier
than usual if the seasonable weather con-
tinues. The ripe grain will be cut and
shocked before Ethe ordinary time for
putting in the sickle" This is equally
hue of the whole country, and the har-
vest promises to be abundant, and with
the prospective European demand the
indications are that all will bring a fair
price. With coin and currency equal in
value, there is no doubt about the cir
culating medium of the country being
sufficient tor all the demands of trade,
and if the people only content them
selves to the legitimate avenues of trade
and avoid the rock of speculation upon
which so many fair crafts in the past
have been wrecked. aud rot expect to
attain sudden wealth by some unusual
rise in prices, the day for that has
passed away with the close of the war.
and fnrtupaS now oro nor ,naIa Il, m dox,
it will be for our country.
Business is now done on basis of small
er profits than during war times, and it
becomes the business man to practice the
strictest economy in doing business, for
competition has largely reduced the
profits. compared with former years, and
the merchant or manufacturer cannot
afford to do business on borrowed capt.
tai and pay the interest he did during the
period of high prices and large profits.
The resumption of specie payments has
brought the country to good, sound
financial basis, and with the promise of an
abundant yield 10 the farmer for which he
Is likely to receive a remunerative price
there is no reason why, if the lessons of
the past are needed. that we should not
once.more enjoy season of prosperity,
and manufacturing, commerce and bust
Hess OF all kinds bring in returns upon
the capital invested. The profits may
not be so large as in former days, but
business will be done upon safer basis,
and the laboring man be sure of his re-
ward. 1t is very importanta that all
should keep out of debt and live within
their means. Learn to save and make it
point TO pay as you 60, which is the
only safe principle, and sureao preventa-
tire of hard times, Let more leave the
overcrowded cities. engage in farming
and become producers instead of con-
sumers. In Chebopgan county there are
thousands of acres of good, rich farming
lands to be had, which, with toll and
strict attention to business, would bring
wealth to many who now are ekeing out
miserable existence in some crowded
section where everything is ever done.
Let young men abandon the foolish no
ton that it is not respectable ITO earn
their bread by the sweat OF their brow"
and secure farm and go to work. If
they will do this their success is assured.
Come TO this section and secure a home
While land Is cheap, and cali be had con-
venient to good market for all that the
tarm pro luces.