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THE MUSIC TRADE REVIEW
but the men who triumph over difficulties and temporary interfer-
ences are going to be stronger in the end.
EDWARD LYMAN BILL - Editor and Proprietor
J. B. SPILLANE, Managing Editor
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B. BRITTAIN WILSON,
A. J. NICKLIN,
CARLETON CHACE,
AUGUST J. TIM PE.
L. M. ROBINSON,
WM. B. WHITE,
GLAD HENDERSON,
L. E. BOWERS.
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Departments conducted by an expert
1 1OJC1-I laiiV ailU
t i o n s o f a technical nature relating to
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V p
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ea]t wjth w i u b e f o u n d jn a n o t h e r
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wherein all ques-
the tuning, regu-
player-pianos
are
gect i on of th i s
concerning which
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NEW
YORK,
OCTOBER
10, 1914
EDITORIAL
'"I" HERE is a lot of common sense, timeliness and sane counsel
•L in the remarks recently made by Judge E. H. Gary, head of
the United States Steel Corporation, when he says: "What this
country needs now more than ever is more courage. This is not
the time for Americans to be 'quitters.' It is tine for prudence
and economy, but not for hysterical economy. There is danger that
some of our business men in their overcaution will wreck the
mechanism of their own organizations and injure everyone else."
There is undoubtedly a tendency to extreme pessimism on the
part of many of our business men, superinduced naturally by the
disturbed conditions both in the financial and business worlds
which have prevailed since the starting of the European war.
Meanwhile, business men would do well to consider wisely and care-
fully before becoming victims to a course of action that prudence
and foresight should enable them to avoid. As a writer in The
New York World aptly expressed it the other day: "The unex-
pected disturbance of the world's commerce and the immediate
effects felt in this country seemed to cause many people to lose
their heads and fall under a paralyzing fear that deprived them of
all energy and initiative. Reasonable retrenchment in many direc-
tions and careful husbanding of resources for the time being was
the obvious course of wisdom, but 'hysterical economy' that meant
hoarding and suspension of effort would only be a step toward
disaster.
"With reason Americans have boasted of the greatness of their
country and the variety and extent of its markets. They have been
confident of their capacity to face trials that would exhaust the
strength of other nations. To yield to the first impulse to believe
that all trade must be bad because business in some quarters has
suffered a setback is to ignore the facts. It is as imprudent as it is
unnecessary."
Judge Gary's good advice is well worth heeding by members
of the music trade industry. The critical, period . in the business
world is rapidly passing, and the outlook to-day for the United
States is most hopeful. Tt is the time for courage and optimism,
on the part of everyone in the business field—a trying time truly—
E members of the piano trade, both manufacturers and deal-
ers, responded, and are responding nobly, to the appeal of the
Southern planters to "buy-a-bale-of-cotton," for were the purchases
of the various concerns combined they would probably amount to
several thousand bales. The Southern dealers are buying the cot-
ton or taking it in exchange for their own protection, for much of
their prosperity naturally depends upon the prosperity of the cotton
planter. There is already a big question in the minds of the finan-
cial experts as to whether the cure of the cotton situation in the
South will not prove worse than the disease when the next crop is
to be marketed. At the present time the purchase of cotton at ten
and twelve cents a pound has served to inflate the market value of
the commodity, and when, later on, the cotton now in the hands of
the non-users, who purchased to "help out" is put on the market
together with the unsold of this year's crop, and with the full new
crop the planter will find that the market is in a condition far worse
than at present.
The South has been for some time past the "boom" section of
the country. While other sections were standing still or advancing
slowly in the matter of business increase the South has been pro-
gressing in an astonishing and gratifying rate. The present crisis
has proven, however, that "King Cotton's" tenure of office is as un-
certain as that of some human monarch and that permanent pros-
perity cannot be built up on one commodity. If the planters heed
the warning to give their attention to diversified crops well and
good. If they don't the "buy-a-bale" movement will fail in its
mission. The country will answer the appeal of the cotton planter
once because the conditions are exceptional and a lesson had yet to
be learned. If the appeal becomes a habit, the purse strings will
not remain so loose.
Piano men should join with other merchants of the South in
urging planters not to depend entirely upon cotton for their prosper-
ity—to realize the fallacy of putting all their eggs in one basket.
I
T is significant that the exports from the Port of New York in
the third and fourth weeks of September ran almost six million
dollars more than last year in spite of the nearly total loss of ex-
ports to Germany, Austria-Hungary, Russia and Belgium. In four
weeks, ending September 26, Great Britain and the British posses-
sions took eleven million dollars more in New York exports than
last year, and Denmark, Norway, Greece, Spain, Cuba and other
countries, a substantial increase. With the approach of foreign
exchange to normal figures, the trade of New York shows a won-
derful capacity for a swift revival—a condition which is certain to
show a steady improvement and place the country on a sounder
financial basis as the increase of our export trade necessarily de-
creases our indebtedness to foreign nations. Musical instruments,
of course, are playing but a minor part in these exports, but the
situation, as outlined elsewhere in The Review, shows a distinct
change for the better that is most encouraging in every respect.
have received a number of communications from Review
W E readers
in which writers have taken extreme views re-
garding the European situation and the causes which led up to the
deplorable war. These we have not published, nor do we propose
that the columns of this paper shall be open to controversial argu-
ments concerning war conditions in Europe.
No good can come through such discussion, and we feel that
the management of a trade publication should exclude from its
pages matters of this nature. Many of our readers have pro-
nounced views upon the subject, and why should we offend the sensi-
tiveness of anyone by throwing our columns open to bitter dis-
cussions.
We shall maintain this stand, and it is useless for anyone to
send in to us opinions praising or abusing either side in the great
European struggle. We preach neutrality and we shall practice it.
R
EPORTS from Review correspondents throughout the coun-
try the past week are couched along lines that indicate
steadily improving conditions of business in their respective
localities. Locally, manufacturers state that orders are more
plentiful, than for months.