The recorder, or, Lady's and gentleman's miscellany. [volume] (Richmond, Va.) 1801-1802, 1802-10-06
VIRGINIA.,
tCFigAalJs Printed in I7o6.)
[Contihaed lf-0m Nc. o.


itare II proper degree.
2. That where it exits in the his,hetf
degree, it is not IN evil: and
3 That the n1iichiefs ariiine from
the prevailing 1yttem Of credit, can BE-
rennedied only by policy dire city opDo-
iire to that hitherto obierved.
10 prove the firt petition, IitrIe
more Is neceliary than to define the term,
credit IS a confidence exiting in che
mind OF the feiler or lender of a conno-
dity, in the ability and honefv Of rh,.
purchaier or borrower. When tb;x
confidence is complete; when tbe}elIrr
or lender knows that he will receive
payment at the appointed time, unIefs
lone unexpected Calamity befalls the
Purchaier or borrower; he will be con
tent with pfotir exactly proportioned
20 the inconvenience which he iultai0s.
o1y parting for given time with a nor
tioA OF his properly. With this profr
nc mutt DC content, becauie the man
who Purehales on credit, with the means
ana intennon TO pay, with pun6tualiry.
"lh never give more for an article which
he may'want, than the real value Of oric,.
OF chat article, with reaionable com
peniatlon for the ufe oft, until the Dr;r.
IS PAID. It ieems obvious that fhis con-
liberation alone mutt regulate rhe 5;r
terence between faIes for CATH, and (aIes
on credit Under che fuppoitlon which
has been made, there is no Other c;r-
culnitance, which can influence the iran.
faction. 80 9 az
B,le rhia confidence sioes-nyt-,,.x;i,7,..
\ the teller OF a commodity, flppoles
mat there is Pol1ibility that he NAV
nor DC PaId at ALL. thar there is a Droba-
bii.fy that he will not be paid at the aD-
pointed time thar in fa6}, the laws IF
! the country, by exempting lands from
the payment Of dcbrs, and Barring &C
IONS on fore accounts of more than
twelve months ltanding, pur him en-.
tlFely at rhe mercy Of his debtor he a,crs
ao1urdly indeed, if he fruits out biz
money Or ms property, wittouc beiro
PAD tor tte FIii< that he enccunrerS
! nc debror,too, in fucl fate O trag,sir.
Is tempted 70 buy NOR than be ,eal,v
"atlts'fo Promiie more chan he can pun
tnaliy perform, and 70 allow = hjgher
price than he can afford to pay. Tie is
not ooiged 10 make moe calcalari9es
nc IS ienil5le ofthc apparent ac!ysataoe
afforded him ~ Tie laws buys wbae
MS fancy approves; means honel,y If
Tie time TO payifhe can; but IL lie can
nor foreiees that the inconvenience
tails on the creditor alone,
Let us compare this thcogg with IA.
In the ordinary trahfa6lioas of MI. cr,,n
Try, there is difference OF neary Eo-
Per cent. bsrwcen fale5 for calb ~
5aies on twelve months credit fan,,.,{
iar me trhth OF this aHlr;ion. 70 cir
cefnitahccs within tbs Isno~ ledoe nf IN
Q what caule IS this difsreace r. -
F alcrioed7 To the majority ofnlsn cyrn
money IS nor worth more than jrveo and
halt Per cent. Proptrry IS wortb n;lj
ieis. Ihe feGdue, therefore, chat is G..
's"-Ieh and aalf per cent. of cour(e ere
Paw 'o' h2t lng This fact caa0or mir
ieaa. Credit never car exiR on = r,ob,
ioorlnG II any country, v6er. E, -
pfol1ait prealiun is paid in order 70
loata ohfderabje differences. made
~ merchar5s, 5etwcen Ike rah and
.ae cfeolf P1cs Of articles, isa fat Of
uhlyycria' nosoucty This diaerence
'''>i0 ~ : Gag meditation, and depends