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THE MUSIC TRADE REVIEW
REVIEW
PUBLISHED BY EDWARD LYMAN BILL, Inc.
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373 Fourth Ave., New York; Second Vice-President, J. Raymond Bill, 373 Fourth Ave.,
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Departments conducted by an expert wherein all ques-
tions of a technical nature relating to the tunjng, regu-
Ili»narfinoiltc
lating and repairing of pianos and player-pianos are
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Player-Piano and
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NEW YORK, JUNE 9, 1917
EDITORIAL
T
HE man who waits for trade to come to him these days is
making the mistake of his life. In our efforts to be patriot-
ically economical we find ourselves going to extremes in the
opposite direction in the way of misguided thrift, which is just
as great a danger as wastefulness and extravagance. We must
be careful not to deflect from its normal course the tide of
.the nation's money that keeps the wheels of industry turning.
A man may consider himself an excellent judge of what the
public requires. He may be an able and competent business man
throughout, but nevertheless he cannot solve the problem of how
to make progress in war times by waiting for business to come
to him. Activity was never more necessary than now, for there
must be aggressive action to combat the prevalent economy
hysteria.
The quietness in our own industry, while temporary, it is
true, is due largely to a sort of superficial conclusion that "there
is no business" owing to the war, and therefore a large number
of our dealers are apparently content to "drift." Meanwhile,
there are those who are hustling, pushing right ahead irrespective
of conditions—they have implicit faith in the country's future,
and consequently they are busy.
The old saw has it "in times of peace prepare for war." We
would paraphrase this and say "in times of war prepare for work."
This preparation should consist in activity, just now, in the
factory, on the road, and in the warerooms.
Sitting down and complaining will never get a man any-
where. It is necessary to be broader in spirit and accomplish-
ment. The future is not bleak by any means. The farmers, who
contribute immeasurably to the prosperity of the country, are
adding rapidly these days to their bank accounts, while the crop
outlook for this year in all parts of the nation, according to the
official accounts, is not going to be so disastrous as some pes-
simists pictured a few weeks ago.
While the necessity of supplying foodstuffs in increasing
quantities to England and France will naturally prove more or
less of a burden to the United States, there is no genuine reason
for alarm over a food famine. According to the latest reports
coming from the Chamber of Commerce of the United StateS
as to crop conditions, the crops will be normal or a little better;
and, with the high prices prevailing, the farming element should
be in excellent position to purchase liberally, especially in the
music trade.,freld.
!
The crop situation is summed up in the Chamber of Com-
merce Bulletin as follows: "With favorable weather from now!
on the total wiflter wheat yield may somewhat, though not man
aterially, exceed the harvest of-last year. At this stage of the
growth of the spring wheat crop all that can be reasonably said
is that the law of chance is for a greater production than last
season. If, hpwever, we_ should not have as much jwheat to ex=
port as would be necessary, there seems a strong probability that
we shall have other available food supplies, such as corn, oats,
potatoes, and the like—not only in full measure,. but running^
over."
''-
•
>
Such are the pleasing assurances given by the Committee
on Statistics and Standards of the Chamber of Commerce of the •
United States, and which are of interest to all branches of^in-
dustry. -It must •also be remembered that the vast sum of money -
which is going into circulation through the war expenditures of
the government, is bound to find its way into the pockets of
the people, and into the proper channels in all lines of trade.
The music trade industry is bound to get its share of "what
is going" when the business of the country is adjusted to a war
basis, and therefore every fact of fundamental value leads one
to the conclusion that after a short recess we are bound to have
great business activity. The sentiment in the trade is gradually
improving. Keen interest naturally exists in the progress of the
war, and quiet confidence has taken the place of fear of possible,
hurtful consequences.
We wish again to emphasize, however, that the manufac-
turer, the merchant, who intends to wait for business to come
to him will be sadly "left."
A
LTHOUGH the piano trade cannot be said to have been
fully alive to the dangers of the War Revenue Bill until
it was in the advance stages, it can be stated that the retail piano
men have proven themselves thoroughly awake to the value of
the much advertised Liberty Bonds both from a patriotic and
purely commercial viewpoint.
The campaign for the sale of the bonds had hardly been
under way before it was definitely stated that the bonds bid fair
to prove as negotiable as the ordinary greenback or treasury
note, as the bonds are issued in convenient denominations of
$50 and $100. Piano retailers were quick to appreciate this fact
and equally quick to advertise to the public that they would
accept Liberty Bonds as representing cash for the purchase price
of a piano or player-piano.
At least a half dozen piano houses have gone on record in
public advertising as.being willing to accept Liberty Bonds at
$102 or even as high as $105, in other words, to accept $100
Liberty Bonds as representing $105 in cash. The offer is one
that should appeal to the ordinary piano prospect. He can feel
that he is doing a patriotic duty by buying bonds, and then can
realize from $2 to $5 above his purchase price by turning them
over for a piano.
The offer should materially stimulate cash piano business
and make for larger payments, for $50 as a first payment, whether
in currency or bond form, is something not to be ignored.
I
N the various opinions published in The Review last week
regarding the desirablity or practicability of formulating an
agreement regarding minimum prices, at which pianos and
player-pianos should be advertised, some unusual but interesting
views were presented—some of them favorable and some not so
favorable. Although the New York dealers who started the
idea are working on the plan and consider it quite feasible, the
piano merchants in other States, some of whom favor the plan,
are of the opinion that it is Utopian in character.
Some piano merchants feel that the adoption of minimum
advertised prices would encourage certain members of the trade
to juggle prices more generally than is the case even at the