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THE MUSIC TRADE REVIEW
From the Editor's Note Book.
AN ILLUSTRATION OF HOW PESSIMISTIC TALK BECOMES CONTAGIOUS TOO MUCH TALK AND
LITTLE ACTION—IF YOU WISH TO SUCCEED YOU MUST JOIN THE ENERGY
BRIGADE DUN'S CHEERING REPORT ARTISTIC ADVERTISING.
'r ^ HE pessimist stalks abroad in
the land, and his influence to
a certain extent is retarding
the onward march of General
Prosperity. His forces are de-
ployed in such a way that it
is difficult for the moving columns to pass
by the pickets of pessimism easily.
The declaration of John Wanamaker on
the now famous occasion, when he chose
to sound the note of warning that unless
Congress acted promptly in the settlement
of business uncertainties disaster would
follow, has percolated through the minds
of the people, but as yet has had no special
influence upon the legislative branches of
the national government.
It is amazing sometimes to see how this
sort of pessimistic talk permeates the minds
of the entire people of the country.
I have a friend who is generously
remunerated for his labors by large weekly
cash installments from a well-known insur-
ance company. I know positively that his
salary has undergone no diminution during
the past three or four years. It is ample
for all his needs and he should be one of
the last men in the world to complain of
hard times, and yet, the other day while
we were engaging in a friendly and remin-
iscent chat he said:
"Times are mighty hard. I expected
to make a purchase of a piano this year,"
naming a certain make, " but things are so
tight with me, I think I shall defer the
purchase until more favorable times."
I looked at him in amazement and said:
" And you talk this way, you who have
a stated salary, a salary which will pur-
chase more in every line of wares made or
sold in this country than ever before in
this country's history, whether colonial
or national, and still you complain of hard
times? Tell me if men who are as snugly
fixed as yourself, and whose dollars have a
greater purchasing power than ever before,
complain of hard times, how shall the rest
of us who are subject to ever varying trade
conditions be able to stem the tide success-
fully against such a strong current of
pessimism ? Open any metropolitan daily
and you will see more advertisements of
every line of goods sold practically below
the cost of production than ever before,
and you who have dollars in your pocket to
take advantage of this situation complain
of hard times? "
4
'Well," he said, "I hadn't just looked at
it in that light, but you know I hear so
much about hard times that I suppose I
am influenced to a certain extent by my
environments like others."
"And," I replied, "that is the trouble.
One of the greatest drawbacks to-day lies
in the fact that men succumb to this in-
fluence rather than strive to overcome it.
Men talk too much about these things,
and it is this very talk which influences
their actions. We get tariff and currency
for breakfast, served up again for lunch
and its cold remains placed in a convenient
locality so that they can be easily served
for dinner as well. In the meanwhile there
are generous offerings interjected during
the day, which keeps the entire system
agitated. There is too much talk and too
little action. Talk is mouth-filling but it
does not supply a business or a financial
deficit."
*
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*
*
The men succeed best who devote less
time to bemoaning their sad lot, but press
their energies towards extending their bus-
iness. It doesn't pay in these times to sit
down and lose faith either in the country
or in their neighbors.
Take a look about you, in your own and
neighboring towns throughout the coun-
try, and see if the following facts are not
universally true: The men who are suc-
ceeding are the ones who are pushing
things. And the men who are pushing
their trade are members of the energy
brigade. Work—persistent, continuous,
intelligent work—is producing results now,
just as it always has and always will. We
are in a era of careful though painstaking
merchandising. The careless merchant
or manufacturer cannot maintain himself
and continue in business in competition
with alert, active, aggressive, up-to-date
competition. The new merchant is in touch
with all the new ideas of merchandising.
Everything about him—his store, his em-
ployees, the display of his merchandise—
indicates enthusiasm, concentration, and
absolute attention to his own individual
business. Leaving the currency question
and all other political questions now to
public men, he is giving his entire atten-
tion to solving the problem of his own
individual success. And that man is suc-
ceeding.
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#
*
*
There is reason for the stimulation of
business energy based upon the report re-
cently issued by Dun's Agency*. I append
an excerpt which is of interest:
The statement of failures in May by
branches of business gives much encour-
agement. In amount of defaulted liabili-
ties the month was the smallest since Sep-
tember, 1895; in manufacturing liabilities
the smallest since November, 1895, and in
trading liabilities the smallest since Sep-
tember, except the last month, 1894. Fail-
ures of general stores have not been as
small in any month as in May, 1897; in
only two months out of thirty-six have there
been smaller failures in boots and hats,
only five in groceries and not one trading
class in that month has reported failures
larger than in the half the preceding
months, though in furniture failures are
rather numerous. In clothing manufacture
the month was the smallest except four out
of thirty-six; except five in chemicals, six
in woolen goods, seven in machinery, lum-
ber and miscellaneous manufactures, and
exceeded the average only in iron and cot-
ton goods and earthenware, owing to a few
failures of exceptional size. Nobody can
mistake the meaning of such returns.
The statement that except for the tem-
porary depression in prices, the volume of
business transacted is now larger than
it was in 1892—the year of greatest pros-
perity—has been questioned by some. But
a comparison of prices this week in the
leading branches of manufacture not only
confirms that view, but shows a remarkable
similarity to the course of prices in the
earlier months of 1879, when the most won-
derful advance in production and prices
ever known in this or any other country
was close at hand. The key of the situa-
tion is the excessive production of some
goods in advance of an expected increase
in demand. So in 1879 consumption grad-
ually gained, month by month, until sud-
denly it was found that the demand was
greater than the possible supply. All
know how prices then advanced and the
most marvelous progress in the history
of any country resulted within two years.
Reports from all parts of the country
now show that retail distribution of pro-
ducts is unusually large and increasing.
There is no improvement in the market
for farm products.
*
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*
*
Advertising involves the expenditure of
vast sums of money, and every investor is
actuated by the desire to secure the great-
est possible returns for the outlay which
he makes.
Tt is a question always open to argument
as to just which kind of advertising is the
best. I count among my friends some of
the best advertising men of the age. They
have brains, and are well paid for the use