The Roanoke times. (Roanoke, Va.) 1897-1977, 1897-05-20
NEEDLESS ExTRAVAGANCE.
Why Business is Dull and Times
Are Hard.

'"rhe times are out of joint Is the ex.
preston commonly heard from all classes
and conditions of the people. In point of
fact the times are not out of Joint, and
we have no condition in this country thar
is not entirely logical and indeed ineyita.
BILE from the causes which created it.
We rotate from prosperity and eNtrava.
gance to depression and want, and the
people are slow to learn the lesson that
much improved habits of economy arc in
dispensable TO American prosperity.
vi There is great stringencY in business
and industrial circles and IL comes from
causes which could and should have been
averted. The chief sources of the present
lack of employment of capital and the
suffering Of unemployed labor are the
general extravaganza of our people in rea-
sOnably prosperous times.
The immediate Gauge of the depression
in trade is the logical result of the inabil-
ity of consumers to buy. Capital is mot
ditfused into industrial channels for want
of confidence, and labor is unemployed
because there is no incentive to capital to
employ it. The result is that consump-
tion has been reduced to the minimum,
and it has been done not only in the in
dustrial circles, where there is an unusual
measure Of enforced idleness and but poor
wages where there is employment, but
living CN PShSCS utNC DeeIl TGuuCGu
among those who are regarded as possess
ing fortune because their incomes haze
been greatly diminished.
Secretary Alger in u recent interview
presented the situation very forcihly by
showing even slight reduction in the
daily expenditures of the people would
affect the aggregate volume of trade He
estimates that 5000, 900 of wage earners
i'll this country have been compelled to
reduce their expenditures at least on an
average OF 10 cents per day. This would
reduce consumption the enormous
am.unJ of $45D, 900, 900 year. In addi.
tion he estimates that the 10, 900, 0C0 fam
lilies in this country have been com PEELED
to reduce their daily expenses at least 20
cents, and such reduction would lessen
the amount of consumption in the United
States the appalling sum of $3.50, 600, COO.
That this estimate of Secretary Ayers
is within reasonable bounds will hardly
be questioned The average individual
expenditures of the u, 900, 900 of working
men in this country have certainly been
leSsened 10 cents day. and it is u low es.
innate to fix the average reduction of eX-
penditures in the families of the country
at 20 cents a day. yet these apparently
small reductions lessen the volume of pur-
chasing by consumers to the extent of
81, $50, 600, 600 in year. There have been
brief periods IN the past when like re-
auctions in consumption have been en-
forced, but when it is remembered that
the present depression has lasted for four
years with steadily increasing stringency
from its beginning until now. it is not
difficult to explain why there is strin.
gency in business because of the lack of
means on the part of the people to pur-
chase what they would be glad to con-
sumo.
1t would be we'll for all to understand
that this country is not likely to reach
any boom or high tide of prosperity in
the near future, and it is much better
that it should not. There has never been
a season of Inflated and superficial pros.
perity that has not been followed by de-
preston, revulsion and panic, resulting
in losses Of hundreds Of millions in excess
of what was apparently gained by the
floodtide of prosperity. A steady growth
of sound business prosperity is what the
country needs, and that can come only by
the people adjusting themselves to the
present conditions, which demand sys-
tematic and established economy in the
methods of American life, and the adjust
ment of our great business interests to
the necessities of the people and legiti-
mate profits. Artificial efforts to revive
industry and trade cannot endure, and
there can be no healthy condition of either
capital or labor in any country that de.
ponds upon the stimulus of paternalism
that inevitably ends in benefits to the few
and sorrow to the many.
The people of the United States have
been the most eXtravagant of any people
of the world. That they should live bet
ter than the average citizen of any other
country is only reasonable and right.
They have the opportunity TO do SO: they
have the resources, the energy and the
skill to make our great continent of
boundless wealth furnish comfort and
plenty to all, but there is no substantial
happiness in extravaganza even while it
lasts, and it can ut the most endure for
but brief season, to be followed by mis-.
fortune. We have Il painful lesson before
us for all classes and conditions, and If
they shall pront by it there is no reason
why this country should not, ut an early
day, begin a period of substantial and
enduring prosperity for the whole people
of the country. The times are not out of
joint; we are only reaping as we have
strewn.-Philadelph Times
THE BEST REMEDY FOR RHEUMA-
TISM.
From the Fairhayen IN T. J Repister