Seattle daily post-intelligencer. [volume] (Seattle, W.T. [Wash.]) 1881-1888, 1884-09-07
Northwestern LumbermaB.


There is a nearly occult motive ester-
inc into every essnmercial depression.
Generally financial reviewers and fnar
ket reporters seek for causes Ia visible
objects such as stock, bonds, money,
commodities and real estate. But there
ia an invisible cause IN the human mind
that, after a panic has occurred, toe
rush Of business has been checked. and
a period of depression supervsnes, in
tensifies the trouble and prevents re-
yival. Men often exclaim, IN the midst
of hard times, what Is the matter
with the couutry? There 10 a constant
increase Of population, and all are con-
sumers; there pas bcsn no famine, nor
is there likely TO be; evidently there %
NO reason Why our communities Should
NOT 90 on prospecting as heretsforef
Prosperity would be immediately re-
stored il the material factors only were
necessary. But a certain condition OF
the pablo mind IL requisite 10 revival
During boom every body 10 excited and
driven alose by the accumulated force
of good times Business II lively, cred
its are easy, expansion comes a. mat
ter of course. While everything is
rushing along on Q high tide nobody
thinks of pAusing 10 consider. Men
and corporations discover that they are
making money, and that, ~ prosper Jus
times continue little longer. they will
be rich. With the natural gambling
instincts of human beings. most men
are willing to take risks for the oh tnc-
of winning the great stake. tbs head.
long gait is kept MP until production
and commerce overweight the machin
srv then something breaks u trem n
10 felt, yet the movement CONTINUES
other parts suecumb, and there 10 n
lar. then q crash. Tue rapid rush
ID shocked, there is drug In The
markets. depressed prices and los
Ing loud atoms. Yet very few stop
eating, ar wearing, or pleasure seeking.
Some luxuries are Topped off. and n {
tie 90 nosiy 10 practict d, Int, taking the
community altogether, the great volume
Of consumption for all staple cnmmodi
ties goes on as before. But the mood
OF men has changed. Those who have
made their fortunes during the b ,osn
draw out and live on the profits they
have amassed. They sty, That II
what intended to do when the crash
should come, m come knew II must"
Those who, perforce, oousinas bu mess
Suddenly become conservative. They
propose hereafter 30 supply oi.iy the
actual Gu rent dema.d. Nobody
branches out, because all are afraid of
changing values. Capital, that IN TIRES
Of depression aud log prices might step
In and buy itself rich In many things,
locks itself In vaults and refuses 90
come forth until prices RQ kitinR again.
A few months since every body wanted
TO buy ut any price. I he higher the
price the crazier TO buv people seemed.
Now that values have sunk 10 the mini
mum, men will not touch the once high
priced property at any figure, though il
has Just a. much intrinsic value for use
40 it ever had. This change Ia popular
appreciation results almost wholly from
o change of mood. The business mind
has Its cycles ne we'll a. everything else.
The trouble Ii that when the business
mind gets in the dumps il Is apt TO stay
there until the lever of events lifts Il
out, as IL were. In 1873 the commercial
and manufacturing interests Of the
country, that had been eroveling since
1873, suddenly awoke to the fact that
goods OF all kinds were scarce. Then
there was a wild scramble for three
years TO supply the lack. The thing
was overdone, as usual, and then there
was decline.
Now manufacturers and merchants
are going slow and will not. take new
start until they are pricked by the goad
OF sharp and sudden demand. Then
there will be another headlong rush.
and many people would like 10 be
caught mp and borne onward by the
m0yeuont: and IL cannot oome too souu
for them.