The times. [volume] (Richmond, Va.) 1890-1903, 1897-01-01
WUSTRIAL B MERCANTILE
a Thoughtful Review Of The Year by The
President Of Chamber Of Commerce.
LESSONS TAUGHT BY EXPERIENCE.
Can the Cause OF Business Depression lie
Traced 90 Errors ON Our Part Which
Might Have Been Ayoided-Out.
look for This Year.

In reviewing FOR the year the condition
Of the industrial and mercantile affairs
OF the city, upon which iis other material
Interests ultimately depend. continued
depression BIAS served 20 reveal more
clearly The operation OF those unfavor-
able influences which are local in char
actcr. ass distinguished from those that
are general. ana which have effected so
adversely the business and enterprise Of
Tho entire country.
To frankly consider the present situa-
ton viii. therefore. Doe especially instruc-
tive though not altogether productive OF
ser comp'Hccncy We may see things
70 De regretted ana impcratlvcly demand
ine REFORM though nothing which should
cause detection III we are Inspired. ass We
Should De- with determination TO re-
move OH possible obstacles lu Gao way OF
our future progress.
II should Doe remembered that there
was % regular and remarkable growth in
almost every line of business pursued 10
Richmond from thc time 10 had recovered
fairly from thc devastating influences Of
the war; up tO tho year 1893. and thu.
this was $50 Boo spite of amy unwlsc meth
ods OF customs of which We had been
guilty. Individually COR as community
That this marked progress proved con
clusivciy. in tho face of the drawbacks
under which we labored. such as limit
al capital lack OF experience etc.. the
Intrinsic merit and vitality of our enter
priscs justified the wisdom of their l0ca-
ton here. and established the fact OF our
natural advantages and facilities for in
dustrili and commercial development. i'm
strong contrast with the short lived OK
tfcuco of similar enterprises whore pro-
NOTED Dog land syudlcdtcs or other arti-
fetal influences. And it in no way de-
tracts from the force of this favorable
record that of late years. say since 1893.
Few if any new ventures have been under
taken. hut is rather ana evidence of our
sagacity. as the energy and resources Of
our business men were most wisely de-
voted to sustaining ana whore oppor-
tuniiy admitted. developing those they
had already established
is IT OUR FATLT2
with the seasons throughout tho coun-
try characterized frequently by string
encv in fhe money disturbance
Of confidence. contraction Of credits. un-
satisfactory collections. curtailed demand
for products and merchandise sharper
competition. declining tendencies in prices
not only was there good reason for not
embarking upon new enterprises. but less
business less profit and what is 90 be
most lamontcd. less employment for la
hor was to- Doe anticlpat And these
general conditions of course reflected
themselves in idle plants. closed stores
and untcnnautcd residences. TO greater
or less extent in every part OF the land
But the question is have these UNI
avoidablo symptoms of bad times been AT
all more pronounced here ON account o..
errors ON our part which might have
been avoided? Let as ask ourselves cam
didly: Has too much of the profit former
lv made here in legitimate business been
tied up or lost in operations outside Of
Richmond or sunk in purely speculative
operations Has too much in the aggre-
gate been invested in buildings. I'm COM
paris0n with or I'M proportion 10. what
was reproductivolv invested here in en-
tcrprisos 10 sustain such superstruc-
ture7 Has the expenditure for particular
. buildings been too Creat-Out OF Keeping
with the requirements and the means at