The probable effect of the newcomer upon the trade in general is a puzzling factor in the outlook. “The chainless is an inspiration; it is a piece of folly; it will induce people to buy; it will hold people back from buying; it is and has been a trade disturber; it is just the tonic the trade needs”—one can take his choice of these opinions, for it is a matter of the point of view. Perhaps the real truth and the best course, as usual, lie somewhere between the extremes. This seems the more likely to be so, because the bicycle has been suffering 강남풀사롱 from extremes in the form of a large overdose of “boom;” it might be more euphemistically put by saying that the industry has been fostered and stimulated too fast. The “pace” of competition has been too hot, and the result is a part of the evolution through which this marvellous product of skill must pass.

Evolution works not only in the cycle itself, but in the methods of production and sale, in the ranks of the producers themselves, and in all included in the term “the trade.” The swift rise of the bicycle as an article of merchandising importance, together with sensational attempts by uninformed press writers to expose the alleged exorbitant profits, has produced a natural effect within the last three years. To make a bicycle for $20 and sell it for $100 was so sure and easy a method of amassing a fortune within, say, five years’ time, that the imagination of our ever-quick Americans was fired.