Year: 1875




General business has been depressed
for a long time, and there are not
many suspicious signs of returning
activity. Natural and well defined
laws govern the business of individ-
uals and communities-and that busi-
ness in its alliances and ramifications
Is connected by close bond of union
and sympathy. The rule is well estab-
lished that branches of busin ess SYM
pathise with each other, the depression
of one tending to beget general dep res
sion, aud the activity of one likewise
stimulating activity on the part of all
others. Thus there are long periods
of general depression, followed by like
periods OF life and activity. There
are special kinds OF business, mOnOpo-
lies, ETC., that form exceptions to the
general rule. These alternate periods
of business activity and business de-
preston are results of the unchanged
BILE and omnipotent law of cause and
effect, whose principles can De traced
through all the ups and downs of busi-
ness, producing good or hard times, as
the case may be. A study of these
principles and their application to the
affairs of all individuals, will conduce
to the two following results A
greater degree of individual, and pub
lie prosperity, and business stability.


The starting point of individual
prosperity is living lOithiH ones means.
Public prosperity is individual
prosperity aggregated. Whatever
the condition of life, the philOsO-
ply of individual success is in
| having the income greater
than the outgO. A reversal of the
rule inevitably brings both hard times
and discredit. The individual who
contracts more Indebtedness than he
or she can pay, loses caste in the COM
munity and Is constantly annoyed by
unsatisfied obligations. The mistake
is sometimes male Of following a
false pride, and trying to keep up
appearances not warranted by the in
come received. There are those, and
this is quite numerous class, who
forget when the times are prosperous
that there will come business depres-
sions, and they pitch their style of
living on too costly scale for the
hard times that follow. Nearly all
the financial troubles of individuals
and communities are to be traced
directly to the cause Of negleeting TO
observe that law of finance which
SAYS that one dollar cannot be paid
with seventy-five cents. The latter
sum, or q smaller one, may De pald
toward an obligation, and satisfy It's
holder but still 1t has not been fully
paid, and a just principle has been
violated. 1t is these violations OF
sound business principles that con-
duee to inspire hard times. The lax
credit system Is primarily the cause
of the whole trouble When this
system shall be less abused, and the
people shall learn more and more 10
conform their method OF living 70
their means, good times will uninter-
rnptedIy prevail


A great need Of the age and the
period is business stability. The OBJ
stacle to business stability is the loose
credit system, to which we nave re-
ferred. Men of energy and unosi-
anced minds rush into business, and
simply because they rush ahead on


borrowed capital with no clear con-
ception of business principles are en-
! couraged and credited with being
enterprising, when they are really
making rapid headWay toward in
soIvency. Energy and enterprise
directed by well balanced minds, are
most commendAhle charscterlstlcs-
As these should be encouraged, SO the
other kind-lesding to Wild specula-
ton, and ultimate financial disasters,
should be discouraged. An unpronta-
BILE business, however great It's mag
nitude, will sooner or later entail loss


and weaken the public confidence.
The need of the period is business
stability resulting from discreet busI-
ness management. And the remark
applies to every species OF business,


from the man who earns his dollar
and half day to the merchant and


manufacturer whose financial trans
actions foot up hundreds or thousands
of dollars per week. In each case


from the smallest to the largest bust


ness transaction, there should De al
least q small balance on the side OF


profit. This will of course insure


business stability and prosperity, and


these constitute good times. And THIS


is the whole secret how to create


goods times and maintain them