Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-05-27
tcoNUMoArEDI
THAT DREADFUL wORD"fAILUREw

hpeOueh'c tntOry ~ ," WV "'b'"t
continuance and ultimate outcome
OF this almost universal phenomenon.
Not but what periods Of financial
stagnation have occurred before, and
are likely to occur when the present II
forgotten; yet, 1t may be believed that
there is an individuality about these
recurring periods, else those engaged
in trade (partlculafly the experts)
would learn by experience how to
avoid or overcome that which 30 nj.
fects the many interests involved. The
very fact that this is not the case Ia
evidence that there Is no universal
law. Otherwise the universal pan
acca would ere this have been dis.
covered, and panics might have been
ms easily prevented, averted or limited
In their effects, rs IL tho disease OF
small pox by the Intervention OF vac.
clnation.
The strangest feature Of these times
OF suspended animation" IL that the
Oldest, most experienced, and those
assumed to be the safcet, " i,her and
die before the paralytic influence sl-
most ~ readily as tho inexperienced;
nay, many OF the latter may somehow
survive and upon the ruins Of their as
sumed supericrs rise to tilluence and
uuquestioncd stability In tradei
These thoughts may appear to DO
only applicable to the broad field Of
national transactions, or Of q world's
complicated commerce, for the barome-
ter OF business In London and New
York Is us sensitive Il the failure OF
Barring Brothers or the suspension OF
n prominent Australian bank M is
the little one on our door Jamb to the
climatic conditions around 1t. When a
great house or firm goes down, or an
Institution collapses, finance feels in
Its uttermost tentacles the shock aud
crash Of failure.
At the same time, insolvency and
bankruptcy are not confined to
stringent times. In days OF boom an d
undispnted activity men and firms 20
down. There are local and individual
peoullarities ~ there are national or
universal ones, and It Is with the form.
er more particularly, where observation
and special Interest exist, that
present comment may be OF value, al
though 1t ahouid be and Ia a business
mans duty aud pleasure to read anu
study his profession and things which
affect II near or far.
This favored Territory Of Utah Is our
home and its prosperity is our ambi-
ton. Even personal Interests are
merged 10 the consideration OF those
details which affect its good name, its
well being, iis business stability and
financial success. If years OF expert.
ence are Of account, II occupying 4
position to survey the territorial trade
field will render any comment
valuable, all that Ia desired will DO
achieved; and II the humblest one en-.
gagged In trade can learn a lesson, this
effort will not have been In vain.
There are large number of stores
or dealers In merchandis In the towns
and villages OF Utah. Years ago co.
operative stores were the rule, and
their deal was almost exclusively with
one house. Many Of those who were
directors and salesmen In those stores
were absolutely unaccustomed to buy
ing or selling, to dealing In or dispos-
Ing of produce. Receiving or giving
credit was not system In their busi.
ness program. They bought and ex-
pected TO pay; they sold and expected
to be- paid-some time. Promptitu de
on either side was an unknown factor.
Their pay for goods sold came r.ainly
In produce, upon which thsfe was
waste or loss, conSeq uent on distant,
changing or unknown markets. LACK
OF training and experience Gon ex.
hibited itself in oramped editions;
but all these stores had an
object,and even when disapr ,intments
and disaster stared them il the face,
the fact Of mutual interest tlded over
many u difficulty which meant ruin
under other circumstances 10 directors,
stockholders, salesmen and settlements
at large.
A case recurs 10 memory where In n