The new dominion. [volume] (Morgantown, W. Va.) 1876-1904, 1904-01-27
VIRGINIA, WEDNESDAY, JANUARY 1904
NOW IS THE TINE
To Adjust Ourselves to the
Situation.

Conditions Which will Prevent 9
Panic are at Work-Morgantswn Ii
vitality Interested In the Future
To Plan Wisely Now means to Bring
Greater Success to us.
What is the promise that the COM
ing spring has for eur business com.
munity, Is an inquiry that is now in
the minds Of many of our people.
Will there be further trend toward
slethful markets and general depres-
SIGN; or will the skies sclear up End
the wonted business activity OF the
past years be resumed when the
spring time opens: are the questions
upon which many business plans and
enterprises are depending; and indeed,
upon which every individual is hesita-
ting, more or less, in shaping his plans
for the future.
Danger and disaster are half over
come when the cause is discovered.
To those who observed the coming OF
the present industrial depression,
there was apparent hating, timid
spirit that took possession OF the bust.
ness world as II there was an impend-
ing disaster but for which there was no
apparent cause, though everv body
seemed to feel IL ia the air. When
they analysed the situation they
agreed that the country was prosper
Gus and wealthy-which was true
that our financial system was sound
which was also true-and that there
was no apparent cause for a financial
panic, but nevertheless there was a
eoutagion OF fear OF something that
was going to happen.
Is other words the business com
munity had lost faith, and faith is the
very basis of all business prosperity
whether the conditions are favorable
or unfayoraole.
That faith will return again when
everybody gets active aud discovers
that they were scared without being
hrrt.
But above and beyond this mental
condition there was more substan
tial reason than simple loss of faith
ia the situation. There was apparent
to the business man in every line OF
activity the fact that prices of COM
modities, of property, OF labor, and
of every article OF trade and commerce
had reached the top notch and that
therefore it was dangerous to buy, or
build or go forward with any enter
prise that involved the expenditure OF
money, when falling market would
inevitably swallow up the property
acquired at existing prices.
This was the bottom fact in the
situation. This fact brought about a
loss OF faith, hesitation all round,
aud the consequent lulI in all unes u
business.
1t is not panic, then, that we are
up against, or destruction of the
foundations nf a general prosperity
We have the same wealth, the same
resources, the same general stability
and promise, upon which To build as
when everybody was active and buoy
ant
Throughout the country and in al
most every business community this
fact is now recognized as the che cou-
trolling obstacle To continuing pros
perity; viz, the unnatural and un-
warranted imitation of prices.
Therefore there is now going on every
where, a reimbursement OF prices to
reasonable and normal hasis. Labor
is meeting capital half way. The
products OF the manufactures are
being adjusted to The necessities Ut
trade. The prices OF living are being
reduced. And, 10 short, panic is
being averted, and the avenues OF
are being reopened .revivl-
lied by recognition Of the reasons
for the depression and removing them
by timely REIMBURSEMENT.
Just as soon therefore as our local
has concluded to recog-
nize and readjust them, we will be
ready to go forward without any ma
terial break in our prosperity. The
same conditions prevailed here which
prevailed every where. Men became
intoxicated with the progress and life
all about us. The prices of labor
were simply fabulous. The. price Of
material kept even pace. The prices
Of living were eveH beyond those OF
the metropolis of New York. 1t had,
in other words, become almost i'm
possib to live and do business in the
young city of Morgantown.
II we improve these winter months,
as they are doing elsewhere, in get
ting down to sane business basis all
along the line, and every bsdy meets
the spring opening with a practical
recognition Of the changed situation,
we will not have had any backset 10
our local prosperity, but our city will
continue TO grow and develop with
steady tread, and every avenue Of trade
that comes down to this level will be
full Of new life.
We must have reduction of rents
in Morgantown.
We must have reduction in the
cost of living in Morgantown.
We must have reduction 10 the
price OF building materials In Morgan
town.
We must have reduction in the
per diem OF labor in Morgantown.
We must scotch imitation wherever
it exists.
The men WHIT recognize this situ3-
tion and act accordingly will be in the
swim, when Spring opens. Those
who higgI. and hesitate will simply
have to fall out Of the procession, for
we are going forward aud there is on