New Ulm review. (New Ulm, Brown County, Minn.) 1892-1961, 1899-03-01
Hard Times Make Good Times. and Good Times
Make Hard Times.

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times" eliminating in crash, to be
followed by years of painful recupera-
ton called ''hard times, with conditions
gradually improving, until conditions
are again reached which stimulate en-
terprise into an activity that becomes
increasingly more feverlsh, until the CHI
max is reached and the cycle is again
completed.
The outward condition of a panic in
dicates its cause to be a dearth of mon
ey. Creditors clamor for it; debtors be-
moan their Inability to commando. The
condition breeds the financial crank who
dins his panaceas into the public ear.
Political parties pander to the cry. The
financial quack gets followers. But there
is not one dollar less in existence after
than before the panic. 1t is simply
boarded. Its possessors over value it.
They distrust every means ofinvestment.
They see prices shrinking and believe
they will never rise again. But business,
the real basic business of supplying food,
clothing, shelter and fuel, goes on, bit
diminished, for everybody is economic
ing. Luxuries are clipped. economies
studied, cost of living reduced. The
cure is beginning; the process of recup-
Grafton starts.
Gradually confidence returns. The
holders of the boarded money begin to
venture it. The accumulations of indi-
vidua]s, resulting from their enforced
economies, gather in the banks. There
is no commodity so useless as idle mon
ey. 1t demands investment and profit
just as does farmers grain or manu-
faoturel's plant. The accumulations be-
gin to hunt borrowers. Business is said
to revive, as enterprising men without
money are enabled to secure loans. The
field of conservative business is soon
filed. There is still surplus money. 1t
accepts investments in which there is no
risk. Speculation begins. The promot-
er abounds. Cities grow ambitious.
Credits expand literally. Securities are
loosely scanned. Prices rise. Stocks
boom. Fortunes increase and others,
eager to share, rush in. Wants also
swell rapidly. The luxury of last year
becomes the necessity of this. TIE eco
Monies are forgotten. Men live up to
their expectations, beyond their means.
Men live agaln::in FOOLS Paradise. They
are having ''good tlmes.''
Then comes the signs of collapse. Con-
servatism reacts. Men begin to think it
time to realize. Payments in cash are
insisted upon. Then comes the crash.
The cycle is complete.-American Land
and Title Register.
Official Proceedings of Special Session Of
the County Commissioners.
The County Commissioners of Brown
County, Minnesota met pursuant to a
majority call at the Courthouse in New
Ulm on Monday, February 9Th, 1899,
at 10 o'clock A. NJ. but as there was not
quorum present, the meeting vas post
poned to o'clock P. M. ..-
Afternoon Session.
The Board met at 2 O'Clock P. M.~and
the meeting was called to order by the
chairman. Present were F. Schubert, J
B. Augustine, A. Richartz and o. Syn.
steby. Absent, J. G. Peterson.
The bond of s. A. George who was ap-
pointed Judge of Probate Of Brown
County by the Governor of Minnesota,
in place of Jonas Laudenschlager, de.
ceased, was upon motion approved and
accepted.
Application fer Auctioneer's license Of
John Korpen of Nicollet County and
Frank Wohlfard of Redwood County
were considered but not granted for tht
reason that parties are no legal voters Of
Brown County.
Chas. Grussendorf was allowed .0C
per day for II days for Office work, dur
ing the vacancy Of the Judge of Probate
Office.
The statements of fees of the different
county officers were read and ordered
fled
On motion the Board proceeded BY
auditing and allowing the following
bills:
City Of New Ulm, grave an inter-
ment for Ingnald Johnson 4.0(
Math. Mueller, repairs basement
courthouse 3.6t
Mrs. 81. Laudenschlager, supplies
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