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THE MUSIC TRADE REVIEW
TWENTY-FIRST YEAR.
j* EDWARD LYMAN BILL^« J* J*
Editor and Proprietor.
PUBLISHED EVERY SATURDAY
3 East Nth St., New York
SUBSCRIPTION (including postage), United States, Mexico
and Canada, $2.00 per year ; all other countries, $4.00.
ADVERTISEMENTS, $2.00 per inch, single column, per
insertion. On quarterly or yearly contracts a special discount
is allowed. Advertising Pages $50.00, opposite reading matter
$75.00.
REMITTANCES, in other than currency form, should be
made payable to Edward Lyman Bill.
Entered at the New York Post Office as Second Class Matter.
NEW YORK, JULY 14, 1900.
TELEPHONE NUMBER, 1745--EIOMTEENTH STREET.
THE KEYNOTE.
The first week of each month The Review
contains a supplement embodying the literary
and musical features which have heretofore
appeared in The Keynote. The amalgamation
is effected without in any way trespassing on
our regular news service. The Review con-
tinues to remain, as before, essentially a trade
paper.
SETTLED BY REASON.
HP HE campaign orator is burnishing up
his arguments for the coming cam-
paign, and ere long the horizon will be
•ablaze with argumentative pyrotechnics.
Opinions of members of the trade in the
city, given during the week, are to the ef-
fect that business will be comparatively
free from the depressing effects which
characterized the last Presidential cam-
paign. Bernardo Fischer remarked: "The
introduction of the sixteen to one plank in
the Kansas City platform clearly defines
the issue and to my mind insures the con-
tinuance of the present administration. We
have gone over the ground completely and
the people are posted, and I do not look
for any calamitous outcome as a result of
the battle of the ballots."
Perhaps never before in the history of
the world, has a vital question, affecting
for good or for ill the welfare of seventy
million people, been debated so entirely
without the suggestion of the use of force.
It is, perhaps, not too much to say, that
the last Presidential campaign marked a
new milestone in the advancement of the
human race towards the time when all
national problems shall be settled by cam-
paigns of education. Prejudice may arise
and attempt to assume the dignity of a
passion and sectional interest may seem to
the highly imaginative to be the open
wedge that will drive asunder a united
people. But behind the temporary haze
which this vital question produces, stands
supreme the ideal of the great Western
repul lie—reasonableness and peace. A
sort of conflict may be nourished in the
brains of the innocent partisan, or the un-
seasoned sectionalist, but when it ventures
upon the stage of public attention, it is
lines as to the danger and dishonor of any-
thing but straightforward ways of doing
business, and encouragement has been
given to those who, in spite of adverse
conditions, have maintained their reputa-
tions for absolute probity.
The discussion of these matters relating
to business ethics has developed an un-
looked-for number of those who, while
supposed to be reputable and honest busi-
ness men, have allowed themselves to de-
viate into practices that were demoralizing
and dangerous. Under pressure of busi-
ness exigency men will do things which
perhaps in other days would never have
occurred to them. If this tendency does
not show itself in adoption of methods
that are actually dishonest, it may be in
the shape of unusual and severe methods;
in taking petty advantage; of adopting a
sharp and technical way of doing business
which, while perhaps advantageous to
themselves, is the cause of endless friction
and falls just short of being of the dis-
'"THE Exposition juries are approaching reputable sort.
the completion of their labors at the
Paris Exposition, and the announcement I NSURANCE is always a vital subject to
of the awards may be shortly expected.
a piano manufacturer, and it will be of
It is explained that the system of awards interest to give some statistics concerning
is different from that practiced in the a kindred industry. Something like two
United States. In Paris the Grand Prix and one-quarter millions of dollars is the
heads the list, gold, silver and bronze med- sum which the insurance companies have
als and honorable mention following in the had to pay for losses on furniture factories,
order named.
including wholesale and retail stocks, dur-
ing the first five months of the present
BUSINESS ETHICS.
year. A number of companies are refus-
DIANO advertising has shown a decided ing the right to class, except at rates con-
advance during the past few years, siderable in advance of the figures offered
and it can be truthfully said that nowadays by local agents. Furniture risks always
there is comparatively little misleading, or have serious features and compare in the
what we may term, fake advertising. The point of inflammabilty with piano factories.
national and local piano associations can
do much to eliminate the trade evils which
ON THE DECLINE.
from time to time creep in, and in this T H E report of the Industrial Commis-
connection we are glad to note the com-
sion on trusts directs attention to over
mendable action taken by the Boston Mu- capitalization on a fictitious basis as a
sic Trade Association, in regard to the recen t source of danger. The report further
Blake system of advertising in that city. makes the important recommendation that
We believe that much good has been the large trusts be required to make annu-
done to the general trade, not merely by ally an audited report showing in reasonable
the exposing of individual instances of detail the assets and liabilities, with prof-
fraud, but by the lesson which has been it or loss. Such report can, audited under
read to many in the trade, not of out-and- oath, be subject to government inspection.
Naturally, the purpose of such publicity
out questionable character or reputation,
but who might be tempted to deviate from is to encourage competition when it is
the straight path of plain and honest busi- shown that profits become excessively
ness methods, that after all honesty is the large, thus protecting consumers against
too high prices, and to guard the interests
best policy.
Many business methods which were lead- of stockholders by a knowledge of the
ing up to questionable or dishonest prac- financial condition of the business in which
tices have been amended. A halt has been they are employed.
There can be no reasonable doubt but
called to business careers which, if con-
tinued in the way they were going, would that publicity will have a beneficial effect
have ended in disaster. Many lessons of upon the workings of trusts.
There is already a noticeable retrogres-
value could be read in and between the
overwhelmed, like a chip in Niagara, by
the common sense of a people whose ener-
gies are to be spent henceforth in the up-
building of new industries and the expan-
sion of old ones rather than dissipated in
civil or international conflict.
The victory won in '96 was in itself a
greater triumph in the history of human-
ity than any victory achieved by an ancient
or modern milit iry campaign. More steel
is now used in the manufacture of pens
than in the making of swords. The metal
annually turned into pens weighs more
than all the metal used during a year in
the war implement factories of the world,
and thus with a singular literalness already
"the pen is mightier than the sword."
The mightiest republic on the face of the
globe, holding in its hands perhaps the
financial destiny of the world, settled one
of the most important questions of the age
by rational appeal to everything save that
might which once made right.