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THE
MUSIC TRADE
REVIEW
finance which extends credit to nations and governments is a
force for international peace and morality whose importance
grows daily.
"The great financial houses of the world are merely the
federation of the lesser forces of your body multiplied; they are
the wholesalers and credit men. the retailors in the fields of
credit; they hold the pursestrings of the world, and, as war is
merely a matter of dollars, pounds, talers, francs, rubles and liri,
EDWARD LYMAN BILL - Editor and Proprietor the time is coming when the credit givers of the world will
make the world lords sheathe their swords, muffle their drums
J. BVSPILLANE, Managing Editor
and transform the hosts of war into the armies of peace.
"It is no small honor to be a part of a system which can and
Executive and Reportorlal Staff :
will accomplish these things.
GLAD. HENDERSON, EUGBNI C. MAYKX, H. E. JAMASON, B. BRITTAIN WILSON. W. H. DYKES,
A. J. NICKLIN,
AUGUST J. TIMPE,
W M . B. WHITE,
L. E. BOWERS.
"Credit as a means to public good, to honest and economic
BOSTON OFFICE:
CHICAGO OFFICE:
E. P. VAN HARLINGEN, 37 South Wabash Ave.
administration of public affairs, has vast potentialities in it if we
JOHN H. WILSON, 824 Washington St.
Telephone, Central 414.
Telephone, Main 6950.
will only apply the same standard to public as to private busi-
Room 806.
PHILADELPHIA:
MINNEAPOLIS and ST. PAUL:
ST. LOUIS:
ness. The Spaniard says: 'Money makes the dog dance.'
R. W. KAUFFMAN.
ADOLF EDSTEN.
CLYDE JENNINGS
Why not make the dog dance to our music? Moral bankrupts
SAN FRANCISCO: S. H. GRAY, 88 First Street.
CINCINNATI, O.: JACOB W. WALTERS.
are as dangerous in administration as in business; why not
BALTIMORE, MD.: A. ROBERT FRENCH.
eliminate them?
LONDON, ENGLAND: 1 Gresham Buildings, Basinghall St., E. C.
"We have need to educate the average man in the true
Published Every Saturday at 1 Madison Avenue, New York
meaning and philosophy of credit; we must teach him that waste
Entered at the New York Post Office as Second Class Matter.
and dishonesty travel in the same coach; he must be shown the
SUBSCRIPTION, (including postage), United States and Mexico, $2.00 per year; Can
unromantic
truth that every dollar of the government's money,
ada, $3.50; all other countries, $400.
ADVERTISEMENTS, $2.50 per inch, single column, per insertion.
On quarterly or
whether
spent
righteously or wasted riotously, comes out of the
yearly contracts a special discount is allowed. Advertising Pages, $76.00.
REMITTANCES,
in other than currency forms, should be made payable to Edward
pocket of the man who pays last—the man at the bottom—the
Lyman Bill.
man of the tenements—the consuming Atlas upon whose back
Piann anil
Departments conducted by an expert wherein all ques-
our whole economic fabric rests.
j T i a i l U U1IU
t i o n s o f a technical nature relating to the tuning, reg-
T«M»hni4*al n o n a n t m o n t c
ulating and repairing of pianos and player-pianos are
"This man is a voter, and when he gets it firmly fixed in his
l t X U l l l l a l VKyal IlllCllto. ^ ea \ t y,-^ w jfi b e found in another section of this
paper. We also publish a number of reliable technical works, information concerning
head
that the wasted dollar comes out of his dinner-pail, and
which will be cheerfully given upon request.
out of his baby's mouth, he w r ill begin to keep a sharper eye out
Exposition Honors Won by The Review
for the government's cash and credit both ; and lie will soon acquire
Grand Prix
Paris Exposition, 1900
Silver Medal.. .Charleston Exposition, 1902
Diploma — Pan-American Exposition, 1901
Gold Medal
St. Louis Exposition, 1904
the
habit of looking for men to manage his millions in Bradstreet
Gold Medal
Lewis-Clark Exposition, 1905
and not in Queen Street.
LONG DISTANCE TELEPHONES-NUMBERS 4677 and 4678 GRAMERCY
"We need a credit club for our political and administrative
Connecting all Departments.
affa'rs as much as we do for our business concerns. If we demand
Cable address •• **Elbill, N e w York."
brains, capacity and integrity in business, why should we be satis-
NEW YORK, FEBRUARY 10, 1912.
fied with tongues, lungs and wind in politics ?
"Fitzgerald, translating the Persian philosopher and tentmaker,
makes old Omar say:
" 'Ah take the cash and let the credit go
EDITORIAL
Nor heed the rumble of the distant drum.'
"Our contemporary Fitzgeralds translate freely as the dead
HE question of efficiency and scientific management in the ones; they have the same concern for cash and contempt for credit;
industrial domain is being accorded an increasing considera-
but it is up to us to make them hear and heed the rumble of the
tion by all interested in manufacturing problems and is destined
distant drum, for it means the mustering of forces very much con-
to form a very important feature of our industrial progress. Dur-
cerned for the cash and credit of this community."
ing the past year a great impetus has been given to this movement
through the hearings before the Interstate Commerce Commis-
TRANGE, is it not, that the worm will turn at last!
sion, when the shippers protested against proposed increases in
Strange, is it not, that an alleged trade newspaper can con-
freight rates by the railroads, and the argument that economy
tinue to abuse manufacturers without some kind of retaliation!
should be practised by the great transportation companies through
No, that is not strange—the strangest part is how in any in-
the inauguration of a policy of scientific management and efficiency dustry men have been permitted to exist whose chief aim in a
has resulted in a mass of discussions appearing in all the leading
journalistic enterprise is to abuse and malign members of that
papers and periodicals. This continued agitation has produced
industry.
good results, and to-day proprietors "and managers of great indus-
How any sensible man can figure that a trade or profession
trial plants throughout the country, including just a few in the can be built up through abuse of a most virulent kind is beyond
music trade industry, have been prescribing such remedies as the ordinary human conception.
elimination of lost motion in all departments, increasing output
Just so long as an institution is permitted to exist which
at a minimum of cost, efficiency in financing and general account-
exudes a noxious poison, just so long some one in the industry
ing, in selling and in business administration.
will be liable to infection. The slimy, crawling specimens of hu-
manity who slavishly yield to the immoral domination of a con-
N speaking of the bearing of credit upon civilization at a re- scienceless chief are just as guilty as the man who directs the
machinery.
cent meeting of the Boston Credit Men's Association,
No question about that and all sympathy on a bread and butter
Joseph Smith, of the Boston Herald, showed how men must be
plea is wasted. Breaking stones on the street would indeed be
taught to understand the true meaning and philosophy of credit.
an honorable employment compared with the sneaking, abusive,
The business of extending and withholding credit to mer-
piratical outfit which has so long disgraced a profession and an
chants throughout this land is an important factor in that sys-
industry.
tem and civilization which keep the world moving upward
To have won the eternal enmity of such an outfit is indeed
and onward. Credit—whether applied to individuals or states—
an honor, for it shows that one is diametrically opposed to such
makes for morality; it makes honesty compulsory, since any
methods.
other policy spells lack of credit and ultimate ruin. He said:
It shows a clean line of demarcation between honor and dis-
"Credit forms the policy or habit of honesty; habit is second
honor.
nature, and all morals are merely continuous habits. The high
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