Alexandria daily advertiser. [volume] (Alexandria [Va.]) 1803-1808, 1805-09-12

From the M r. DAILY Alusrtiser.

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extended .5scli through every quarter of
the world. aud wherever il has obtained an
asceniin cy, has tead=d mach to remove
local preiudices, aud to give scope and IL
bsraiity to rhe mind. The commerce of
this country is nos only widely extended,
but also most actively pursued 10 all its re-
lations and establishments. Numbers have
raised themselves TO the possession OF con.
siderable property, to the advantage OF
themselves, of the agriculture of the coan-
,ry, and the community at large. AS then
commerce and every internal business con-
nected with il, must necessarily be OF I'M
portance, any communication which may
in any degree tend to correct or improve
the sy8tems which may have obtained,
must be deserving of attention. The
world at present admits great advantages
70 have resulted from communications on
the systems of agriculture, and those OF
business no doabt are equally susceptible
of Improvement. The system the writer
has in view as exceptonable, AID too much
acted upon, is that of accommodation pa
per. When man is known TO be without
capital, it does not follow that he is un-
worthy Of credit: his experience aud know.
ledge In particular branches OF business,
NAV entitie him to and procure HIM safe
aud good buslaess, aud as much credit as,
without capital, it may be prudent tor hi n
+ to accept. But business IS haetering great
profit may be had; his mind is ardent and
active; not the smallest particle OF discre-
dit is attached TO the mode OF procuring
money b. accommodations; they can be
had from any of his friends, or from many
of them unknown TO each other, at no ex.
pence-merely slip of paper, aud no tax
on it: for one good turn 1t may be he must
do another, aud with his endorsement ac-
commodate in his turn. On this system
he raises 6ctlcious capital, ne has great
prospects before nina, and 1t Is possible
By good luck he may realize them, and be
successful But if with the greatest bust
ness, knowledge aud attention, the pros
poets close on him, what can he do ne Is
all sail aud no ballast, he cannot cast aa-
Choir, ne cannot take 10 sail, they are too
uawieldy for his meaus, ne cannot lie TO,
from tae quantity of sail and wait of bal
last he would make so much lee way: IN
other words, if an addition to his want OF
success (even negatively in business he has
TO pay real interest on large imaginary ca.
pital, not to hint in the least at shaving
now and then on an emergency at the rate
of % or 80 per cent. per annum, 1t is EVIL
dent that the property In his hands must
diminish rapidly, and in spite of every ex-
ertion he mast soon find himself much de-
fcient. How will things stand then? will
alrthe property be divided in proportion a.
mong all his creditors, so that they may all
bear due proportion Of his deficiency !?
No. The insolyent, it is admitted, is an
upright honest man but what can he do |!
can be ACT honorable in the eve Of opposite
parties he has Indeed choice of wrongs
his friends have endorsed paper to great
amount without any advantage or expecta-
ton OF any from it. What dishonorable
conduct (they would say would it be to
allow them to suffer? What has he to pay
them with-his own property No. Wha:
then? why their 6ctitious capital has pro-
cured him sufficient business credits, by
which he has got into his hands the proper.
ryof the industrious planter, trader or ma.
nufacturer, and the laws of honor it seems
allow him to pay his friends with their pro.
perty. He no doubt is equally sensible
that this is a direct breach of the laws oil
honesty, but what can he do he mas acted
on asyste.n which though h. has nor per-
ceived it until 700 late, has placed those
laws in direct opposition, and as he must
commit breach on one of them, it &C
cords best with his present case and future
prospects to turn the scale in favor of stand
ing well with his friends and homer: so
much for the principle.
Now lett be supposed that the insolvent
orras SO01n JoIfarc ichA LII La.o,,a -,