Music Trade Review

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THE MUSIC TRADE REVIEW
ity, inability and indifference to the wants
—the needs—the necessities—of the people,
has reigned so long. Unless we can arouse
our servants in Congress to a position
where they realize fully the real needs of
the people, then the case of Wilcox & White
L\MAN
will be oft repeated in this country.
Editor and Proprietor.
Bankers seem to look upon every busi-
PUBLISHED EVERY SATURDAY
ness institution with more than a modicum
3 East 14th St.. New York
of distrust, and no matter what amount of
security a man may offer for a loan it is
SUBSCRIPTION (Including postage) United States and
Canada, $3-00 per year; Foreign Countries, $4.00.
oftentimes difficult to obtain a reasonable
ADVERTISEMENTS, $2.00 per inch, single column, per
Insertion. On quarterly or yearly contracts a special dis-
loan on fair time and rate. Money is not
count i% allowed.
REMITTANCES, In other than currency form, should
everything, and it should not be the god
%9 made payabltt to Edward Lyman BilL
before which we all have to prostrate
Bnitrtd mt ths Nmu Y»rk Post Offict as Second- Class Mmtttr.
ourselves in order to keep our crafts afloat.
NEW YORK, JUNE 12, 1897.
Property should have consideration, and
men who have worked their affairs to a
TELEPHONE NUMBER 1745. — EIGHTEENTH STREET.
point where they can show good available
THE KEYNOTE.
The first week of each month, The Review assets, where they can show a good paying
will contain a supplement embodying the liter- business and a constantly expanding trade,
ary and musical features which have heretofore should not be turned down by the men
appeared in The Keynote. This amalgamation
will be effected without in any way trespassing who sit in charge of the money vaults of
on our regular news service. The Review will our great banking institutions. They are
continue to remain, as before, essentially a trade
not the lords of creation to strangle and
paper.
throttle trade at will.
THE TRADE DIRECTORY.
The Trade Directory, which is a feature of
The Review each month, is complete. In it ap-
pears the names and addresses of all firms en-
gaged in the manufacture of musical instruments
and the allied trades. The Review is sent to
the United States Consulates throughout the
world, and is on file in the reading rooms of the
principal hotels in America.
THE CAUSE OF FINANCIAL TROUBLES.
HE announcement of the failure of the
Wilcox & White Organ Co., Meriden,
Conn., will be received with general regret
by the trade.
The business career of the concern has
always been characterised by honorable
business dealings and upright methods. Its
active members have won the respect and
friendship of the trade in all sections of the
country. It is to be hoped that the busi-
ness misfortune which has overtaken them
will but temporarily hamper their efforts.
The failure of this concern is due largely
to the lack of confidence which has prevailed
for such an extended period in this coun-
try. It is much to be deplored that such
concerns as Wilcox & White, whose mag-
nificent assets, with a good business, well
established trade, with active members who
are originators and inventors, should be
forced into financial difficulties by reason
of their inability to raise a specified amount
of money at a given time.
The tightening clutch which bankers
hold upon their property is steadily forcing
many gpod and solvent firms to the wall.
The lack of confidence in everything which
seems to have permeated this broad land
has its inception really at the fountain head
of our national government, where inactiv-
T
What, after all, is their money but mer-
chandise? They should deal in moneys
the same as manufacturers deal in their
wares. Money is only the oil of the
machinery of industry, and if we stop the
use of the lubricator the wheels grow creaky
and after awhile cease to revolve.
Again, the policy of our moneyed institu-
tions is suicidal, because by their failing to
grant loans and discounts to reputable,
honorable, deserving concerns, they choke
the life blood not only out of the in-
dustry of the country, but from their own
bodies as well, for the gold that stagnates
in their own vaults brings them nothing.
Money is only performing its proper func-
tions when in motion, and earning money.
When it stagnates it ceases to become a
value. In motion it is the lubricator
of trade.
Bankers by their parsimonious course
are adding fuel to the fires of Bryanism,
because by their action trade life becomes
stilled and men who in ordinary times are
peace loving, law abiding citizens become
sour, morose, discontented, and their
hearts become the most fertile spots in
which to sow the seeds of anarchy.
In this trade, and in all other trades,
here are to-day manufacturers who stand
in need of ready funds: they have assets
in plenty; their business affairs are in ex-
cellent condition, perfectly healthy, all the
useless appendages have been lopped off,
and still bank officials look frowningly
down upon them when they ask not what
should be considered a favor to them but a
favor to the banks, because the bank has
ample security for the loan asked, as good
as anything can be, and what do they do?
Refuse, while their vaults are bursting
with idle dollars.
One thing is certain, unless the people
of this country and their servants in con-
gress recognize the fact that confidence
must be speedily restored, in order that
this may again become a prosperous nation,
we shall be face to face with conditions
more bitter than those through which we
have passed.
No nation on earth can prosper when its
disbursements are greater than its receipts.
Neither can it move ahead industrially
when it is continually undergoing a politi-
cal juggling with its tariff laws. With such
conditions the business man has nothing
upon which he may rely with a degree of
certainty for his future operations. The
whole thing is speculative, and the result,
men cannot proceed with their plans and
endeavors as if they were assured of cer-
tain clearly defined political laws govern-
ing them.
America has undergone many trials, but
none which has affected her more seriously
than this damnable political jugglery which
is going on. It plunges the stiletto of
despair directly to the heart of industry.
Banks' keenly sensitive to the political
influences of the times, add their generous
quota to the depression by refusing to
grant reasonable accommodations to per-
fectly solvent institutions, from which
in good times they would only be too glad
to receive commercial paper.
There is no use of mincing this matter.
Neither is there wisdom in glossing it over
with any superficial lustre. The facts are
before us, and while we believe in the
main in eschewing pessimism, yet there
are times when one feels forced to speak out
truthfully just exactly the thoughts which
lie deep in the heart.
The visit of the South American mer-
chants to this city this week marks another
step in the development of more extensive
commercial relations between the northern
and southern divisions of the Western
Hemisphere. It will not only enlarge
acquaintance and strengthen good feeling,
but the delegates will learn how capable
and thoroughly equipped we are to cater
to the wants of their people.
One of the most practical and effective
plans of bringing our products to the at-
tention of the people of the vSonth is that
just adopted in Venezuela, where, thanksto
the personal efforts of Mr. Rudolf Dolge,
backed by the go-ahead policy of the
National Association of Manufacturers and