The Delaware ledger. (Newark, Del.) 1879-19??, 1884-08-23
JOHN WANAMAKER,S1w
Store}NeWs.l

1t is a hard time Tor l rnef-
chants, especially for manu-
facturers; and by a hard
time we mean a time when
they are losing money rather
than making. This is the
general fact. Amerchant who
bought his goods six months
ago is sure to be losing now;
a manufacturer who is at
work on stuff that is already
too plenty is worse off than
the merchant. Such is the
condition Of most merchants
and manufacturers now for
a few months.
Wholesale merchants and
manufacturers, both, are
holding great quantities of
almost everything in trade;
holding--not for better prices
for buyers. Buyers are
scarce, because merchants
have got already more than
they can sell. There is gen
eral stagnation.
But this very condition of
things affords a signal oppor-
tunity for a merchant who is
not burdened with goods
and has the requisite outlet.
He can buy any quantity of
the most desirable merchan-
disc, undersell the retail
market, and still make a
profit. This is our condition
exactly.
We sell in a year more
than four times the quantity
of goods we now have in
stock; and our sales are
going to be more, not less;
because we adapt our buying
and selling to the times we
are in. We spoke of max
ing a profit on these low
prices. Not always. We
are not smart enough to
judge correctly beforehand
always. When we miss the
: best thing, we try the next
best. When we find we
have bought on a falling
market, we hasten to sell at
a loss, instead of waiting
after the ancient fashion; but
the outgoing tide of trade
here carries the wrecks off
so quickly that we do not
stop to grieve over losses.
Time is emphatically money
where events develop SO fast.
What is the result, that we
ask you to read of our prob
lens and tactics? Why, the
result is that here is a differ
ent condition of things from
what you expect of the gene
raj dulness. 1t is said to be
dull; no trade. 1t isn't dull
here, not even in August of
a very hard summer. Every
body is holding his or her
money a little more firmly !;
everybody is a little more
cautious in paying it out.
That is all in our favor. The
harder the time and the more
cautious people become, the
more readily they go to a
place where advantage tum-
bles to their side of the bar
gain with the solidest guar
antee money back if they
want) on the top of it.
We are not old enough yet
to be quite sure of the fact;
but it looks as if hard times
were actually good for us
here, as if people might need
the stimulus of fear to bring
out the fullness Of their esti-
mate of what we are steadily
doing in good times and bad.
The store is full of mer-
;chandise; and the prices are
what our view of the oppor-
tunity makes them. 1t is not
a time for the quickest things
of fashion. 1t is a time for
getting almost all the sub
stantial staple things to wear
and keep house with. 1t is
a time to make money by
spending it. 1t is a time for
caution ; but the caution is to
be shown in choosing what
you buy, and the bargain
you make. And surely when
the bottom appears to be
reached in goods, and the
top of the purchasing power
in money and people are
trying to be watchful and
wise-that is our time to