The pilot and transcript. [volume] (Baltimore, Md.) 1840-1841, 1840-07-18
CREDIT SY STEM.

1t is surprising that the mechanics and labor
| ing men suffer themselves to be bored by the
idle, gossiping small politicians, whose leisure
permits them to traverse our city and intrudt
upon their time, with the common slang ant
abuse of the credit syst EN-.
How many of that worthy class of our commu-
nifty, particularly at this juncture would be in
suffering condition, were it not for the system of
credit His trade prof, sion, if he is worthy,
gains him a weekly, monthly, or even longer
credit, which, with the proceeds of his industry,
he promptly redeems; and that insures him
further extension. 1t is, eInphatically, the poor
mans capital. And to that very system, so much
decryed BY the federal destructive loco-foces of
the day, are indebted to the mighty improve
ments which intersect our country at all points,
like the arteries and veins of the human body
and which, but for the suicidal, selfish and ruin
Gus policy of the miserable politicians in power,
would infuse new life and activity into every
branch of commerce, trade, agriculture, tire me-
chanic arts and other producing employments,
ROW in state of torpor.
Have no examples on record or before our
eyes, of men in humble life, without any CAPITAL
excepting the labour Of their hands and their in
dustry, who, by their individual worth have OBJ
tanned credit, and by promptitude in redeeming
| 1T by that labour, have acquired wealth-and
then by giving credit to Others of meritorious
character, enabled them successfully to tefollow
in their footsteps? p Aye, we have thousands of
thousands of taat class, who are indebted to Gre
dit for all they possess on earth. Is it not then
demonstrated, that credit was the capital upon
which honest industry traded, and opened the
way to affluence'
Let us go one step further. How many worthy
foreigners have emigrated to our country. or been
fortuitously cast upon its shores, utterly desti-
tute OF pecuniary means; but having trade or
profession, with industry, probity Of Character
ana an indomitabie perseverance, have been
enabled, in process of time, to unlock the very
vaults of Crpsus, and thus acquire NOT only a
competence for themselves, quietly to enjoy The
serene evening of life, but enable some of those
very decryers of credit to hold IN their heads,
which, but FOR that very system, might have been
bowed down to some drudging employment. af-
iording little if any more than daily supply suf
fcient to keep soul and body together, and who
are now but mere drones of societyt
am working man myself, and have all nv
lie depended and still depend upon the labour Of
my hands to sustain myself and family. II exc,tes
contempt for that portion of my species. whose
Progenitors began the woodland prospered upon
cTedt-who had nothing else to begin with-and
YET whilst they, tor party purposes, continually
cry, down with the banlts-down with crad;t
themselves enter into foolish and visionary gam
bling speculations, even lotteries, upon tbc ere.
dit system, without possessing the virtues of their
fathers In promptly redeeming the credit ,pon
which they occasionally trade.
Felow-WorkIngmen, when such small 4,oliti-
clans intrude their impracticabe views mon
your attention, promptly interrogate them ,ghe-
ther none of their worthy kindred Commenced
their career upon credit, or upon boyro,red can't
tai and whether their industry and punctu.
atty did not secure its extension; and Ultimate
iy lead to wealth and responsibility, leaving a
competence for their offspring, without the ne
cesssty Of employing the sscreditr capital o,;p;
nahy used by them?
If you obtain no reply to your questions. YOU
will, at least, rid yourselves Of the FOSTERING nut
sance Of such small politicians.