Year: 1873

There seems to come a cry OF Hard Times
from every corner of the land. What causes
this cryy Without attempting to solve the
great questions of free trade, specie payments
railroads, ETC., in Their bearing upon this cues
ton, it shall be the purpose OF this article TO
point out some few OF the elements that so to
make up the alarmingly prevalent and remark
ably inconvenient commodity " !Iard Times"
And first of all, debt shall be mentione d as the
one most worthy to lead this band of veterans
IN the army Of "IIard Times" Times are al
ways easy for a nation or an individual when
contracting debt. And they are corresponding
~ hard when those debts come to be lquidated.
During the war the country was steadily and
rapidly going in debt. Everybody had plenty
of money and used it lavishly. Now the coun-
try 10 paying ITS debts and money Is not so
plentiful as in the days OF the war. Individual
debts come up Tor settlement and all at once
there is a general diving INTO pockets to get
hold of the wherewithal to pay. Close times
may be expected until people generally are out
OF debt


\ want Of confidence is another fruitful
cause OF the close times Of the present. \
few bank. fail, few more close their doors for
a short time, and immediately the multitude of
men imagine that everything is on the fast
road to destruction aud that nothing can save
the country from general bankruptcy. \ gem
eral rush is made for deposits, money is locked
up in idleness, the legitimate business OF bank
ing institutions is either seriously crippled or
entirely destroyed, and these frantic efforts for
individual safety result in general depression
What a rich lesson Is to be learned in tho con
dition OF things i'll towns where the business
men and people generally have shown common
sense IN their conduct with the banks. and have
not been frightened into a general grab for
their money.


A lack of strict honesty in business is no un-
important agent. When times begin to tighten
men are inclined to hold on to their money and
delay the payment of their debts Not untre-
quently is bank suspension made the excuse
for non-payment when the man has the money
in his pocket. An honest effort should be made
by every man to pay his just debts when pay
ment is asked. In this way will each in turn
be able to meet his obligations and business
may continue without even temporary stagna-
ton.


A failure to economlze properly has mighty
influence IN prolonging and intensifying the
hardness of the times. People are always
reader to cut down expenses for the necessa-
ries than tho luxuries OF life. The butchers
bills and the grocer's must be overhauled be-
fore expensive dress or the thousand costly
items Of dissipation and amusement receive
attention. But butchers and grocers bills are
hard things to reduce, and many times the
whole effort to e,onomlze is spent IN fruitiess
exertions upon these and other stern necessi-
ties. with the result that no economy at all IS
effected With little curtallIng of the need
less expenses a great reduction in the cost OF
living might be easily made. There are thou
sands of fancy stores, millinery establishments,
tobacco houses, billiard halls, dram shops and
the like in the country that might be turned
into manufacturing houses and honest work.
shops. if people would live sensibly.


Finally, and by way Of summary, the want of
n true. honest, sensible mode of life and way of
business on the part Of the great mass of the
people. is the greatest cause Of ''iIard Times"