LEGITIMATE BUSINESS.

Otago Witness, Issue 1253, 4 December 1875, Page 3

LEGITIMATE BUSINESS.

The recent business failures are not without their lessons, which, if properly heeded, will prove a blessing instead of a curse. All business derangements necessarily produce hardships in individual cases, and most often with those least able to bear them. Hence, any suggestion in the direction of reducing the number of failures to a minimum cannot be out of place at any time, and is peculiarly opportune at such a time as this. It has been remarked that only about 20 per cent, of business men retire crowned with success in any event. This may be true as judged from some standpoints as to what constitutes success. But to assert that eighty out, of erery hundred business men must necessarily fail and defraud creditors at some time during their lives, is a sad commentary on a field of enterprise that absorbs the best executive talents of the the age. That some failures are, unavoidable, is generally conceded. Such instances only prove that man in his best estate is not perfect, and does not understand all the workings of even his shortfuture. Cause* over which he may nothave the slightest control often work his downfall .when least expected. , All business men know the legitimate from the illegitimate fields of enterprise. They know the path of safety is a long road j to assured competence. It is beset with { hard work, early and late, and small daily , accretions. , Few- pursue this, path. -from J choice, it is so uninviting and toilsome. There/ are, however, some old-fashioned merchants and bankers still living who, have, followed it, from their youth jUpj.

and it is an encouraging fact to know that the reputation and judgment o! thesi men are of great weight in every com* mum'ty. They act as the balance wheels of the business world. There is anothetf class of merchants who belong to what insurance policies denominate hazardous. They are quite willing to step aside occasionally and take a chance in this or that speculation which promises large profits and quick returns. Every diversion of this kind is a weak spot in their business career; and when these diversions , become paramount, speculation takes the I place of business, and they are on the road which eventually ends in ruin, for it seems to be an irrevocable law that those who persist in a speculative career should be brought up with & round turn. — San Irancisco Bulletin.