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VOL. LX1V. No. 18 Published Every Saturday by Edward Lyman Bill, Inc., at 373 4th Ave., New York. May 5, 1917
10 Cents
Year
Preach and Practice "Business As Usual
A
no time in trade history was it so necessary to be up and doing"—preaching the doctrine of business pro-
gressiveness in all branches of the music trade industry, and at the same time cultivating cool heads
but not cold feet—as in these exciting days.
Carefulness in the conduct of business is always necessary, but conservatism is sometimes con-
fused with super-caution—as now being manifested in an economy hysteria—and there is nothing in common
between the two. Conservatism is a form of human preparedness. To the young and uninitiated the markings
of a channel carry no special significance, but to the skilled mariner they are the language of danger and safety.
To know and follow the markings is conservatism; to know and disregard them is recklessness.
The "super-cautious" merchant selling pianos or other products is of the ilk who, fearing possible results
from the ever-present discussion about the effects of the war, sends in letters countermanding or cutting down
his orders to the manufacturers from whom he buys. This is the type of man who acts as an "alarmist"—a
contributing factor to a business unscttlement which, if it were to become general, would be most harmful to
the country, inasmuch as it would tend to undermine the confidence which now prevails, and which is built upon
the foundation of a business prosperity that has never before been known in this country.
There is a class of men, unfortunately, who, instead of standing up to their guns and shouldering their
responsibilities as patriotic citizens, will hurry to get under cover, cancel their orders, cut down expenses,
preach economy, and all that sort of thing, thus contributing to a condition that is decidedly harmful to the
nation's stability and progress.
Such people permit themselves to get scared when there is really no occasion for it. A little more backbone,
a little more confidence in the country, will prevent the clogging of the wheels of trade.
The business man who devotes his time talking and thinking war cannot blame his competitors if they
capture his trade because they are more level-headed—not less patriotic—and see the wisdom of keeping
business well to the front. We are prone to shout that we are a brave, patriotic people—in fact, history
well bears out the fact that we have a just title to the claim—yet we have a class of citizens who allow thcni-
, selves to be thrown into a nervous tremor when war is discussed.
The government is planning to distribute enormous sums of money in its campaign to enable our country
to maintain its honor and dignity. This money will be circulated among our people, and as a matter of fact
the present war is strongly on the side of business advance rather than business depression—pessimists and
alarmists to the contrary notwithstanding.
Calm, clear thinking and careful conservation of business prosperity should be the nation-wide rule
to-day. This fact was emphasized very aptly by Howard E. Coffin, a member of the Advisory Commission
of the Council of National Defense, who, in a recently issued statement, warns against the wave of hysterical
economy which would swamp business at a time when prosperity is most needed. In this connection he said:
"After nearly three years of refusal to take the European war and its lessons seriously, we suddenly
launched forth in a most feverish activity to save the country overnight. Patriotic organizations, almost
without number, are milling around noisily, and while intentions are good the results are often far from
practical. Because of an impending and possible shortage of foodstuffs we have hysterical demands for
economy in every line of human endeavor. Waste is bad, but an undiscriminating economy is worse.
"Some States and municipalities are stopping road building and other public work. General business is
being slowed down because of the emotional response of the trading public to these misguided campaigns
for economy; so savings are being withdrawn from the banks, reports show that some people have begun to
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