The Northern star, and constitutionalist. [volume] (Warren, R.I.) 1834-1837, 1834-09-06
yARMERs AND MECHANICS ADvoC ATE
DEBT AND CREDIT.

DEBT AND CREDIT.
I dialike the whole matter Of debt and
credit t--fro,n my heart l dislike It and
,n,,. the m.n, who first invented a ledg-
.r, should be hung in sffigy, with his in
vsutioa tod to his feet, that hive neck
might support him and his works together.
NV reason for thus sweeping at the whole
system is, not that believe it totally use
lsss, but that I believe it does more mis-
chief than good, produces more trouble
than accommodation, and destroys more
fortunes than it creates honestly.
These opinions are not OF recent date
with me they are those upon which l
%, out ia early life, and, as grew older,
I became more and more confirmed in
them not that changed my practice,
while held fast my profession, and got
my fingers burnt at last, by trusting nv
name in day-book for never did it,
because I. saw the evil effects OF credit
around me in every shape and form.
A visit, this morning, to my old friend,
Timothy Coulter, called the subject up
On forcibly, that concluded to write you
, line upon it. His last COW was sold
this very N ,rning, by the constable, for G
dollars, though she cost him sixteen and
they have not LEFT an ear Of corn in his
efib or d bushel of rye in hrs barn, much
less any OF his stock: it was xhat was
sailed winding up Of the concern and ne
is now on his good behavior for | heard
one Of his creditors say, that, If he did
rot 70 very straight, he would walk with
him of to the county prison-ship. Thus
hns ended Timothy's game Of debt and
credit.
When he first commenced farming, he
was a. industrious and promising a young
man IS was to bo found T; he worked day
and night, counted the cost, and pondered
on the purchase OF every thing. For
year or two, he kept out Of debt, lived
comfortably and happy, and made money !:
every merchant, that knew him, was read
y to make polite bow each knew him
m one of your cash men, and liked his
custom. The mechanic shook him by
tho hand, and begged his company to
dinner, hoping 10 get Job from him !;
and even the lawyer, in contemplation OF
his high character, tipped his beaver as
he passed him, with sign, us much as
to say, Tim you have more sense thun
half the world but that's no consolation
= 10 U.s."
BY soms fatality, Timothy found out,
however, that there was such thing as
credit. He began soon to have many
running accounts, and seldom paid Tor
vhat he got il soon followed that the
INQUIRY, "Do really want this arti<le"
before he bought it, was neglected then
the price was frequently not asked ; then
he begun 10 be careless about payday ;
his accounts stood he disputed them when
rendered, was sued, charged with costs,
snd, perhaps, silly, with interest too and
hs became money borrower before long
but his friends after lawsuit had brought
them their money, were ready to trust
him again, and he was ready to buy. The
sams farce was played over and over, un-
Ill now the end of these things has come
and, poor fellow, he is turned out upon
the wide world, without friend, save
wifs and six miserable babes.
1 asked the constable for sight oi
the execution, and he showed it to me-
1t was issued by young Squire Bell, and
c0uIo not out reCOIioCt ho" uHiC'eh'
was the history Of this man from that oI
Timothy. Young bell was poor boy,
and commenced his life with nothing bu,
health aud trade but he adopted, as a
sacred maxim, "Pay ms you go )" aud
he frequently told me he found little diifi'
Guilty IN sticking ~ his text
The ncccssaries Of life are few, and in
1nstry secures them to every man It Is
the elcganccics Of life that empty the
purse the knick-knacks Of fashion, the
qualification Of pride, and the indulgence
Of luxury, make man poor. To guard
against these, some resolution is neces-
,ary aud the resolution once formed, is
much strengthened and guarded by the
habit of paying for every article We buy,
at the time. IL we do 10, we shall sell
dom purchase what our circumstances
will not adord.
This was exactly tine manner in which
Jack Bell proceeded. Habit strength
snsd by long continuance, and supported
by reason became second nature. His
business prospered his old purse became
filled with Spanish dolIars /; all his pur-
ehsces, being made for cash, were iavor-
Bile and, by always knowing how he
stood wnh the world he avoided oil de-