The Nezperce herald. (Nezperce, Idaho) 1900-1957, 1920-12-16

gloom. Then We hear the voice OF
Samuel Mickle. He has been dead
for a good many years, but his spir-
it still lives on. Benjamin Franklin
wrote about him in his autobiog-
raphy.
"There are croakers in every
country, always boding its ruin
Such one lived in Philadelphia; a
person of note, an elderly man, with
a wise look and very grave man-
her Of speaking; his name was Sam
uel Mickle.
This gentleman, stranger to
me, stopped one day at my door, and
asked if [ was the young man who
had lately opened new printing
house. Being answered in the at
firmative he said he was sorry for
me, because it was an expensive I'M
dertaking, and the expense would
be lost for Philadelphia was sink
ing place, the people already half
bankrupt, or near being so, all ap-
pearances to the contrary, such as
new buildings and the rise of rents,
being to his certain knowledge fall
lacious, for they were, in fact,
among the things that would soon
ruin u.s. And he gave me such de-
tail Of misfortunes now existing, or
that were soon to exist, that he left
me half melancholy. Had | known
him before | engaged in this bust
ness, probably l never should have
done it.
"This man continued to live in
this decaying place, and to declaim
in the same strain, refusing for
many years to buy house there, be-
cause all was going to destruction;
and at last l had the pleasure Of see
ing him give five times as much for
one as he might have bought it for
when he first began his croaking."
The Samuel Mickles take the
front seats in business and where
prosperity had been pushed to the
breaking point now likewise depres-
sion is made altogether too much Of
Those who have been earning large
profits OF wages feel extraordinar-
lily sorry for themselves even though
frequently the money they receive
has increased in buying power.
There is always great deal of talk
about adjusting income or wages to
the cost of living, but, as matter
of fact. income and wages are never
adjusted to the cost of living. In the
individual case the Fl. c. Of Il. is al
ways either ahead of or behind the
pocket book. AS prices fall those
with fixed incomes who had been hit
by the high prices have their inning,
but it would not be human nature
for them to talk about their kind OF
When prices are going
up the crowd that is being hurt
walls. We rarely hear from anyone
who is not in trouble.
As prices continue to go down the
Inefficient business men have to
fail, while the forehanded ones i'm
prove their processes, eliminate
wastes, and begin to accept things
as they are and to make the best of
hem. 1t is in these times that good
business methods are evolved and
,hus it is that periodic depression
s, as rule, distinct benefit to the
What Causes the Business Pendulum
to Swing.
This depressed period does no.
commonly extend through a very
ong time. The community has to
tart buying again, and although it
nay do so gloomily, business is real
y going ahead normally long before
here is realization Of the fact.
)nce it is realized, another era of
prosperity sets in and that prosper
ty will usually be on a sound basis
ntil the community begins to feel
90 prosperous, when the whole pro-
ess that | have sketched is repeat
d.
We may rail as we like against
his cycle, but until we learn to con-
rol the changeableness of human
allure, it is going to be continued.
is in the end beneficial and makes
lightly for human progress. In the
'opics, where food may be picked
tt the trees and life is even, we find
cry little progress. One has to be
nocked down every little while in
rder to learn how to fight,
The disastrous part Of depression
not the depression itself, but when
is ushered in by panic. A panic
an hysteria, an emotional insan-
y, and is accompanied by col
pse, followed by long depression
has to do not so much with the
of the country but with
le state OF credit and frances. Our
ost serious panics cams in 1887.
'73 and 1898 Just before 1887 was
le first boom in the Wst through
e opening up Of Cover ment lands