The recorder, or, Lady's and gentleman's miscellany. [volume] (Richmond, Va.) 1801-1802, 1802-10-06

In iact,lr IS Z matter OF great difficulty to
procure money on ahy terms Merchants
have location for all thar they 2olIefs
aud fhole who acquire II by cheir induR-
ry and labor, are afraid to lend it. The
farmers and planters know, if their mo
ney Se,s our of their hands, chat they
cannot command It AGAIN They, there
tore, iltfer II TO lie ufelefs in their cheits
until they can realize it. IF however,
they engage in a negotiation of this
kind, they take care to receive an enor-
nous premium. Inaead transferring
iPecie, they fell tobacco for 4 Or IS. in
the hundred above the current price.
Thus large quantity OF capital, eiritet
hes unemployed, oris brought tneo ope-
ration only on cerfus ruinous 70 tic,
holder. tI>he rate Of inrerelt in every
country depends on the Inconvenience
OF parting With money, and the hazard
Of not getting ii agih Il appears rhat
N Virginia, this Inconvenience and ha.
gard are eftimared by law at T Der
cent. bur by the people four or five
rlmcs as high. Perhaps there cannot
be more uRsquivocal symptom of rhe
adveric iiruation OF our donlefic affairs.
The rare Of interea is laid to be the
true barometer OF fate, and its low
hcis is ign alnoG infallibls. Of the
Hourifhing condition. ola peopla.
Z. The above definition, if 'conecf.
alto proves the falIacy Of that rcaloning
which regards credit as an evil. The
eHlttence Of II in rhe higheft degree is
not only the blching, but the glory Of
country. 1t proves the people 10 be
both wealthy and Ionef. In fact, what
can be more abiurd than to pro
hounce 1t analional evil, that men Iaould
obtain what they want, by the CONF
dence rePoied in the integrity a-1r
conouct, and their ability 70 pay. i
is tic misfortune of this country. .Yar
chs confidence does nor exit, ana il we'll
becomes the wiidom and parriotitn7 Of
the ieglllarure, 70 explore the fourcc
from which it {prirgs.
81 The rolicy hitherto purified, ri
order TO remedy the evils, which are
deicTlbed>aboye, and about which W..
hear perpetual complaints, has been
entirely Intellectual. If rhc PRINCIPLES
above ffared are ttl'r, the mifchiefs have
bccn multiplied One 1hne at leaf j
certain. The object, which the le.,,C,
larnre bed in view, ilas nor been arrsio-
cd. Sixteen years experience onqhr 70
convince them; tleat if'thcy perlcvere ri
their prcient hcaiureS, it never win h..
attained.
The carnc Of Ibis milcafriage mnr bc
traced to an error, 20 obvious, gbaf r. i
wonderful how intelligent men could falt
into IT. They fem % 4uppole thlr the
'dea q telling Oh credit originates With
tie merchant or owner Of tls Thing (okl
Certainty there cannot DC 4 gf0ltr mi.
apprehension. , The merchant would
generally wiiirto lell for cath, that he
might always nave the command Of his
capifai. 50 would every man. But
men, who make one cIrg>o CROPS onlv
IN a Je2r mufr either deal occsfIonallg
on credit, or rrHnquilh comforts ami
accommodations, which in reality thev
can veil aforA,l
L y on rhi. iuppoG;ioa, however,
that .be laws for diicouaeiaq eztsnavr
eredt arc founded. Thcy ere aI d:recr
ca a.8ainit ths feller. Every terror is
req outa 70 make him afraid Of giving
credit. About the BUYER, abou, the
man "ao requires it, nothing IS fad.
There Is no Idea more chinefial than
.daf o. preventing credir. The thin is
imPolilble. In fact, ir does not appear
f1at our 1sglihrarc mean 70 aboHilt ere
a. 0ut 20 render 'r leis e&tenfive! little