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THE MUSIC TRADE REVIEW
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exhibits, then let the standard be known;
let it not be hidden in the minds of the jury
who might all disagree as to that ideal stand-
ard. The ideal standard business is liable to
tangle one up completely, and there should
be clearly defined rules governing the award
plan.
Our own idea regarding the award ques-
tion is that, to a large extent, the almost
general distribution of prizes at Chicago had
an immediate effect to depreciate the value
of exposition recognition; but still, it is an
undeniable fact that value exists to-day in
awards, and there should be no mystery or
juggling surrounding a plan on which ex-
hibits are to be judged.
If there are awards to be granted, let them
be given on a basis of comparison of one
exhibit with another, and not with that mys-
terious ideal which was followed at the "Pan."
Furthermore, there should be a decision
rendered whether the withdrawal of one or
more exhibits, composing, we will say, some
of the most distinguished names in piano
history, should lower the standard of a medal
from first to third degree.
Now that music trade interest is aroused
in the St. Louis exposition, we have urged,
and propose to urge, that the managers of
that fair declare themselves clearly upon that
most important of all questions to exhibit-
ors—awards. A man who has engaged to
contribute thousands of dollars to the success
of a great enterprise should be entitled to
know precisely upon what grounds his offi-
cial recognition may be determined. Awards
should be made solely on the ground of
merit, and with no discrimination such as
should deteriorate the value of those awards.
Jurors should be selected who are not only
fair-minded and competent, but who are ad-
mitted experts in their various departments.
Ic is the proper thing now to keep this award
question well before the people, and trade
papers in the various industries should play
no unimportant part in bringing forth some
official utterances regarding this question
from the men who will control the situation
at St. Louis.
BUSINESS OUTLOOK GOOD.
s viewed through
Business men are
e n c o u r a g e d—No
the spectacles of
b r e a k apparent —
Some changes in bank-
prominent music trade
ing law may be made
—Country generally
m e n in t h e various
prosperous.
branches of the industry,
there is not the slightest excuse for pessim-
ism as regards conditions of the late fall or
holiday trade. The consensus of opinion is
against any apprehension of a weakening of
the trade vertebrae this fall. It is generally
conceded that there are no matters which
shall be brought up when Congress assembles
that will cause the country the slightest un-
rest. While we are peculiarly sensitive, yet
A
even the most pessimistic cannot feel any
possibility of a business break this year.
It may be that there will be some reform
of our present banking system so that by
liberalizing our national banking law there
will be a more even distribution of the sur-
plus capital of the country. A reform of this
kind will benefit business and stimulate the
enterprise of the country. A man in Texas
should not pay ten per cent, for money, while
a man in New York gets it on call for two
per cent. Business men, however remote
from great cities, farmers, stock growers,
miners, should have the same opportunities
to economically use their credit by having
adequate banking facilities, and at present
our system tends to congest the currency in
money centers where a few have ready ac-
cess to it at low rates of interest.
The entire country is prosperous, and what-
ever Congress does in the way of legislation
should act as an aid to business, rather than
create fear on the part of business men.
A personal survey of the country gained
by weeks of travel, confirms the opinion that
our continent is prosperous in all its differ-
Tra.de Journalism
was ccmplimented Ly the jury of
swards at
the
PAN-AMERICAN
exposition, by the awarding of
a dip Ion a to
THE REVIEW
ent conditions. That is to say, mechanics
are enjoying good wages, farmers and stock
raisers are blessed with a good price for farm
produce, and the damage to crops in the West
has been largely over-estimated. Good times
for the past few years has created a surplus
in many pockets where a deficit formerly ex-
isted.
Take it all in all, the outlook is most en-
couraging for the piano merchant, and he
should just at this time paste the word "hus-
tle" up in large type in his office so that he
can observe it early in the morning. It should
not be hidden from the gaze of his staff, be-
cause an active fall is now with us, and the
man who puts in a little of that strenuous life
that our President has referred to, will be
the man who will come out at the right end
of the business campaign this fall.
POSSIBLE CHANGES IN THE LAW.
O OME piano men, to-
Present bankruptcy
law not pleasing to
gether with busi-
piano men — Affords
loopholes to t h o s e
ness men in other enter-
who wish to evade the
prises, have not been
payment of debts—
Changes possible.
slow to denounce the
bankruptcy law, and we believe that it is gen-
erally recognized by all business men that
the present law is anything but perfect. It
has been the loop-hole through which many
a dishonest man has crept to evade the pay-
ment of all honest debts.
The present law has been in operation now
nearly three years, and the business commu-
nity has been able to determine its advantages
and disadvantages, and perhaps all laws upon
our statute books require a practical oper-
ation to demonstrate weak points.
That a bankruptcy law is advantageous to
a business community is not doubted by any
one, and there is not a civilized country on
the globe that has not had for years some
system affecting bankruptcy. It is argued
by friends of the present law that, with all
its defects, it is a vast improvement over
any that has hitherto been in operation. In
the absence of a bankruptcy law the dis-
honest debtor is constantly preferring rela-
tives and friends to the detriment of the dis-
tant creditor. Certain creditors, by various
means, secured the powers of attorney au-
thorizing them to confess judgment, and in
that way, upon the least indication of insol-
vency, judgment was entered up and such
creditors were paid in full, while others less
fortunate got nothing.
Under the present law the creditors are
placed upon an equality, and it cannot be de-
nied that credits have been raised to a higher
tone than ever before.
To our minds, the weak point in the pres-
ent bankruptcy law is that it enables a man
to obtain a discharge of his obligations where
he has obtained property on credit by means
of statements by him known to be false and
made for the purpose of obtaining credit.
There should be some regulation granting
the discharge in bankruptcy to men who have
within a limited time taken advantage to have
their debts discharged in the same way be-
fore.
There are many changes suggested, and
probably out of this will come a vastly
improved bankruptcy law, of which the coun-
try sadly stands in need.
APPRECIATED BY THE TRADE.
'"THE unusual demand upon The Review
advertising space has been so great
during the month that we have been com-
pelled to print from forty-four to fifty-two
pages weekly. This fact alone emphasizes
more than columns of self-laudatory words
the fact that clean trade journalism is being
more appreciated than ever by the members
of the music trade, and that a paper with a
wide distribution and a vast influence is con-
sidered by leading advertisers to be the cor-
rect one in which to exploit their wares.
Facts are indisputable, and the little papers
must show more enterprise in the conduct of
their affairs or the concentration of business
into the larger journals will become more
marked as the months go by. Men to-day
do not believe in patronizing the eleemosynary
journalists, as in days agone. They have a
right to expect the largest possible adver-
tising returns for their money.