Alexandria gazette. [volume] (Alexandria, D.C.) 1834-1974, 1886-08-04
A BUSINESS BOOM.


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BUSINESS BOOM.
According to Webster "to boom" is 'sto
rush with violence as a ship under press
of sail.'' This word was made from the
noun. and the latter has since acquired a
new meaning from the ase OF the verb. A
business "boom" is therefore condition of
trade which rushes along its channels with
great force, as ship does before a gale.
We have been particular in this definition
because we have received from several cor
RESPONDENTS residing in different sections of
the country the same inquiry in relation to
the expected rush and excitement in busi-
ness circles. They oil ask substantially the
same question, i. e.. "Are we soou to have
business boom? 2"
We have often advised our readers of our
inability to forecast the future. We claim
some expertness in matters of history, but
civil service examination in prophecy would
return US at very low percentage. Even
where cause is known and its effect soon.
err or later is certain the interval of opera
ton is an indefinite quantity, and it is not
safe to predict the inevitable result at GER
tain fixed date A man whose expenses ex-
ceed his income is on the road to bank
ruptcy, and it is a mere question of time
when his name will be in The gazette; but
with good credit and large circle of ami.
able friends he may prolong the agony for
years and postpone far beyond all reason
able expectation the date OF manifest failure.
In estimating the probabilities it is safe to
say that there is no glut OF manufactured
goods either in the channels of distribution
or in the hands of those who sell directly to
consumers. The latter in all parts of the
country have bought sparingly for several
years and have no surplus for the coming
season. There is no great individual dis
tress or psucity of means among consumers
in any community. The families of the
strikers and persons who have been in vol
untary idleness feel the sore effects of their
folly, but the great maj ajority have in hand
the means of living snd of making payment
for their ordinary wants.
This insures fair demand for seasOnable
goods in every section of the country. The
Eastern, Middle, Western and Southern
States must all be furnished with household
comforts, necessary apparel, and the tools,
implements, and facilities for their usual
avocations; and with few exceptions they
have the means of obtaining the6s without
asking extended credit. Thus far then,
| trade must be active, and to the limit Of
supplying such wants the dealers may de.
pend on stirring season.
This, however, falls far short OF the
'boom' which is waited for by SO many
anxious hearts. The business which meets
| the usual demand Tor each seasons con-
sumption has in it few of the elements Of
excitement necessary to speculative profit.
| When the rewards of industry have been
meagre the regular demand is slack; people
make over the old dresses. use the old tools,
study out of the torn books, and deny them
selves many comforts they would otherwise
| purchase. When the income improves they
make up for lost time, and the retailers
have their hands full until these wants are
satisfied 1t is in one case the vessel in q
calm with the sails Tapping idly against the
mast, and in the other the same craft in a
moderate breeze with all the canvas filled.
Of course all classes are affected while
business is very dull, but the regular, legit-
innate trade may be very active without ex-
citing the mania for speculation out Of which
80 large a portion of the community are now
seeking their living. There may be good
demand for investment securities and no
rush of business at the Stock Exchange. If
no sales were made at the Board except to
capitalists looking for interest on their mon
ey the brokers would have sorry time of
| it. If no cotton was sold except to spinners,
no coffee save that which is to be roasted
and drank, no grain but what is want
ed for the hopper, no -four but that which
goes to the hands OF the cook, no pork but
what must be made ready for the pot, in
short, no produce of any kind not ticketed
for direct consumption, the great body OF
Sd eculative traders would not be able to
purchase their own necessities. to say moth.
ing of the purple and fine linen they 80
much covet.
A "business boom" means, therefore,
nothing but speculative excitement, ex-
tending, when general, to nearly erything
that is bought and sold in the country. Ev-
erybody, with money or sufficient credit.
must be taking turn in stocks. All who
know ANYTHING about cotton land many
who do not) must engage in buying or sell.
ing for forward delivery. There must be
great activity in coffee, tea, grain, flour,
beef. pork, lard, butter and every other
commodity, leading and misleading, without
regard to the need of any one, at home or
abroad, making fortunes in the pocket or on
paper for some and swallowing up the capl-
tai and hopes of many more. This IS the
boom desired.
We see. no Indication of a rush OF TINS
character. Nor is there any inducement to
men of good sense to engage in business so
illegitimate, exactiDg and dangerous. We
advise all who will heed words of sober
warning that there is nothing 10 he out.
look to justify engagements which can he
made profitable only in the case Of such q
wild excitement. If the excitement comes
it will have no substantial basis, ard spec
tators will suffer less injury than those who
permit themselves to be actors in the ro-
namely. Y. Journal of Commerce.