St. Johnsbury Caledonian. [volume] (St. Johnsbury, Vt.) 1867-1919, 1891-07-30
-TNew York Sun.
MUTUAL CONFIDENCE.

MUTUAL CONFIDENCE.
Probably the most essential factor
in social life is a certain measure of
mutual confidence. 1t is developed
to limited extent in savage life, and
grows with the growth of civiliza ton
Xhntil in the highest state of society
1t is the very cornerstone of mems
Irelations one to the other. In the
Drdinary course of events this fact is
seldom noticed. Men transact bust
hess with each other, although they
HAY be strangers, on the basis of
conhdence; paper moneys or promises
Ito paw circulate far from their place
Df issue, and in all the affairs of life
fnen show that they trust each other
Ia mass, though individuals may be
+ Viewed with suspicion or denied
# credit. The recognition of this con-
4 fdence which civilized men have in
Zach other comes when the basis of
& confidence is destroyed by financial
4 banjo. Then everything is changed.
In the crisis of affairs business is
4 brought to standstill; credit is not
ito be obtained; checks upon the
IIbanks are viewed with suspicion;
pdDCl II IL lSSuSd ~
/ the government, and the government
4 itself is known to have reserves Of
gold or silver, becomes deprecated,
and for a time, until confidence is
restored, the ordinary business rela-
I tons of men are profoundly disturb
ed In some financial panics there is
no real disturbing cause other than
4 the unsubstantial fear of impending
4 trouble-the absence of confidence.
That being restored business goes on
Has usual. In a minor degree there is
La disturbance of the ordinary rela-
<ttiOnS of men with each other when
&trusted man is shown to have been
"a hypocrite, or when banking insti-
tuition having failed is shown to have
been trading for years upon value
less notes and obtaining credit by
false entries on its books. For a
Time all men and all banking institu-
lions in the immediate locality are
Viewed with suspicion; deposits are
taken from the banks, money is
[Nithdrawn from circulation, and
t'hard times result, not because
there is less work to do or less need
for food and other supplies; not even
because there is a scarcity Of provi-
sions, but simply because there is a
want of that mutual confidence
(which is an essential factor in social
and business rela tons. 1t is a thing
4 las impalpable as air, but no less real
Esand no less impOrtant in the economy
LOT the social state. But confidence,
bike many other things may be
|abused. 1t is not to be bestowed
unthinkingly upon all who may be
met. 1t is careless bestowal of con-
/ hdence upon those unworthy of it
&that brings betrayal in individual
Eases and ultimately wrecks the
general confidence that holds society
together. Men should trust each
other, but with a reservation, and
should not let down in any case the
Ordinary guards against betrayal
It is the happy combination of dis
TRUST and confidence that brings
Banking institutions partly because
|other men who have established
Bright to be trusted have charge of
them; partly because of their known
condition and of the guards put
#around them by thelaw to prevent a
#falsi6ca ton of accounts. 1t is when
Etne O1StruSt IndI CneSe SudIQS repre-
sent is kept active that the confidence
Essential to business enterprise is
fully developed and maintained
|Disaster seldom or never comes save
when over-confidence, an absence of
t1istrust, lets down the bars to wrong
foing. When audits are neglected
because of confidence; when clerks,
|bookkeepers, managers or treasurers
are allowed to control affairs with
put supervision because of confidence
In their personal honesty, then the
svay is open to dishonest practices
that may for time destroy all con-
fdence. But this is the result of an
abuse, and slowly the public, after
such a shock, realizes the fact. A
Eyery little consideration then shows |
that the percentage of rascals who |
abuse trusts is really small, and that |
although two, three or a dozen men
pf high reputation have sacrificed |
their good names to greed of money,
The great mass of men still remain