The Wellington enterprise. [volume] (Wellington, Ohio) 1867-188?, 1883-06-06
Common Sense and Business Prospects.

There Is no rule OF rare or Oh CommOn
sense compelling man to be either q wall
eyed optimist or long-faced pessimist In
business affairs. And it is no more mark
of sagacity to be forever croaking than
always seeing visions ofendless prosperity.
The lugubrious crank is no less crank
than his opposite, the sunny-hearted block
head who is cock-sure that commercial re-
verse will never come. The chronic
prophet of evil usually bases his able prog
nostications on foundations as insubstan-
tial as those that support the golden
dreams of the professional optimist. The
seventeen year locusts are part of the
religious faith of thousands who never saw
one of the winged rascals, and the neces-
sary and arbitrary recurrence of financial
panics once in exactly ten years is piously
believed in by businss men who, in all
other matters, pay some Difference to the
law of cause and effect. Commercial and
industrial revulsions having taken place
with more or less regularity at certain past
times, the illogical and the naturally tim
id skip to the conclusion that law exists
which brings in these unpleasant changes
without much regard to the sins of omis-
sion or of commission of which the busi-
ness community may be guilty. A class
of commercial Jeremiahs are just now call
ing attention to the fact that in September
next we shall have reached the tenth mile
post from the opening of the panic of 1878
the inferenee being that the 'recurrent
wave of hard times may be expected to
shike the country promptly on time. A
few of the fearful brethren, looking about
them and seeing prevalent solvency and
prosperity, reluctantly consent to postpone
the crack of doom for three or four years
yet, "but" they say, "it will be all the har-
der when it comes" Probably the Lord
has use for the people who habitually look
at the world through blue glasses. They
certainly serve as q sort of breeching to
keep the progressive, ,virile and wide-awake
portions of community from going too fast
for safety or losing their heads under the
stress of too much prosperity.
In the United States to-day few lines
of trade have been temporarily overdone
and are passing through a necessary and
perfectly salutary season of rest. That
this produces transient dullness in some
localities goes without saying. With the
marvellous development of railway build
ing from 1878 to 1882, the iron industries
dependent thereon expanded their opera
tions inordinately. The leading railway
fnanciers saw that they were going too
fast in building eleven thousand miles Of
new track in twelve months, and they
last year called "down-brakes." They
checked speed in time and averted serious
consequences to the great transportation
interest of the country-an interest which
is now solvent and prosperous. The iron
interest finds it not so easy to contract its
business, and friction results, but that fric
tion which comes from the. enforcement oi
reductions and economies to meet dimin
ished demand, instead of being a symptom
of disease is distinctly process of health
The same rule applies to other industries
The American people seem at last 10 have
learned how to slow up the business train
before 1t goes too far and comes in collis
ion with the immutable laws of trade
There is not to-day single widely prevail
ent evil tendency in the business of thi.
country. There is no longer any over
building of railroads, there is no consider
able over-production of goods, our export
bear a Wholesome relation to our imports
credits are not as rule being needlessly
expanded, there is no undue or unusua
extravaganza among the common people
production comfortably exceeds consump
ton, unequalled emigration is bringing
annually scores of millions Of new wealtl
among us, and hundreds of thousands o
new purchasers for the products of farm
and looms. 1t is good time to be com
mercially prudent and industrious, but j
is also a good time to be sensibly confident
Minneapolis Daily Tribune.