Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1880-05-14
THE,pERIL OF PROSPEROUS TIMES
A Few Golden Words Of Advice for
Young Men Anxious to Make Money

From the Rochester Democrat.

Young Men Anxious 10 " MAKE Money
Fast"
From the Rochester Democrat.
The young man who began his pro
fessional career seven years ago ought,
other things being equal, TO be most as
sured Of prosperous days and an easy
struggle for existence now that the days
OF prosperity have returned again. In
1873 the financial crisis came with
crushing effect upon many an honest
man, and we have seen the richest men
brought to penury, and the poorest re-.
duced almost TO want. In the period
Of business depression everybody Is
heavily handicapped by the clrcum-
stances of the time, and if a young man
happens to set out upon his career OF
self-support at that time, he is exceed.
ingly fortunate if he can keep himself
abreast Of the current and does not
give way before its adversely. We are
told by those who have made study
of financial reyulsions that about once
in decade the times become hard, -
overproducton and excess of the specu-
lative mama bringing about stagna-
ton in business, then a stringency in
the money market, then the collapse.
1t takes ordinarily half a decade for re-
covery from the prostration Of panic,
and then the pendulum swings in the
other direction, and buoyancy and
better times prevail. During the
period ofdepression another generation
comes upon the stage, and happy ID it
for that generation if it shall diligently
cultivate the lesson the times have en-
forced. Unfortunately, many of them,
regarding themselves wiser than their
fathers, then their day and generation,
disregard the teachings of the ex-
perience OF others, and themselves,
when first they feel emancipated from
the stringency of hard times, run to the
extreme of recklessness, become crazed
with the speculative mania, violate all
principles of sound business procedure
and straightway meet with to them
unaccountabe disaster. Some of these
enthusiasts are now appearing in the
papers as dead failures. They have
been caught between the upper and
neither millstone and have been ground
to powder. 1t is related Of Cornelius
Vanderbilt, the astute vice president
of the Central Hudson railroad, that
one day he went to his grandfather for
advice concerning investments; that
the old gentleman told him to buy GER
tain stocks; that the young man ex-
amined the marked, became suspic-
ious of the soundness of the advice Of
the old Commodore, disregarded it and
made good sum of money in the trans
action. A few days thereafter the old
gentleman offered him some perfume
tory coincidence on his ill-timed invest
ment-he supposing that Cornelius had
taken his advice-but the young man
assured him he was in no need of it,
nasmuch ~ he had followed his own
judgment and disregarded that advice.
But Cornelius Vanderbilt is an exccp-
tional man.
To-day all New York manhood is ex-
cited over mining speculations. The
papers contain four or five columns of
advertise. OF sound paying in.
yestments" and every one talks of
leads and ores and finds and prospects
and claims and smelters and assays,
and in goes the hard cash and out
comes the splendid prospects which
end in illusions, delusions and dreams.
The present generation seems quick to
forget the lessons of economy and pru-
dence taught by the "hard times" and
rushes pcl-mell into the very thick of
wildcat schemes of INSCRIPTIONS de-
ceivers. This is the prosperity Of the
gaming-table, u prosperity which is but
an accident Of most demoralzing dissi-
patton. The young man who struggles
for existence in that way, who makes
undue haste to be rich, will find that
life is q burden and that existence is a
travesty on comfort and satisfaction.
Bat there is q golden mean. A
young man with fine abilities, sensitiv G
and clear conscience, faithful as the
pole star, always in his place, pursues
the even tenor of his way, gains friends
slowly, but surely, makes deliberate
haste to get rich, is honest in his deal
ings with his fellows, moderate in his
expenditures, prudent in his invest.
ments-to him the struggle for exist
ence is an easy, almost an impercepti.
BILE striving. He is the young man who
contributes to the true and desired
prosperity Of the land. No thought o
suicide ever enters his mind, he never
becomes soured or vindictive. He Of
the other class, however, is positive
setback to the world. The youni
man who since 1873 has set foot upof
the commercial stage, should cultivat'
that patient, prudent habit, which il
satisfied with slow but steady additions
to his earthly possessions, if he would
preserve the composure of bis spiri
and be a blessing to himself, his ag'
and time.
Al. l.a...,lia.. Mann Z.