The Madisonian. [volume] (Washington City [i.e. Washington, D.C.]) 1837-1845, 1842-03-29
From the Journal Of Commerce.
OLD TIMES.

The world is evidently getting into bad state and
something ought TO be done. The moment The crops
TURN out short,or sold off, if never SO large
tiade stops like clock when the pendulum strikes
'ne pack board, We want business 10 go as IL uSea
To go,-with buz, like q watch when the chain IS bro
Ken Previous to 1897 the banks always the peo-
pie along They would lend the millers and the mer-
chants me money necessary to buy up the crops as
soon as they were harvested getting the money back
when the year round. But more tina N this the
merchant would the farmer over TO his xt CROP
and at the South 10y merely getting his factor accept
"race-hose bills, the planter able to antc ipate
his crops for two three years before they we're
grown. This gave people the means of buying land
and stock, and dry goods, and kept prices high. 1t
made business brisk and if only that system had beea
kept up every thing would have gone on well to this
day. The States did great deal TO hep along busl-
ness, by issuing their bonds which were sent to Eu-
rope under the protection of the United States BANK
and brought back in a thousand things which made
trade brisk The plan of running in debt every way
aud every how, is the right way to make business
brisk. Experience has proved it. Now that every
body has taken to the opposite policy OF paying up
and getting paid see how it has ruined trade l ne
banks will not carry over the merchants, and the
merchants will not carry the manufacturers and
farmers. No matter how many crops man intends
to raise, he cannot get cent advanced upon lhem u
Ill they actually raised and brought to market II
he has any thing SELL he sell 1t at one price or
another, but not until he has brought 1t fully to mar
kct. What seens most strange is, that people will
not go into debt if they could On both sides, get
ting into debt is out of fashion. Paypay, is all The
go. Let any any man look the good old way of do
ing things the plan of being in debt and recolect
how swmmingly every thing went then, and compare
it with the miserable condition of things now, and
who can hesitate in determining VIII CHI Is the night
policy? In the good old times of which we speak
when the country had exhausted its crop, business
did not stop for every body got trusted, and SO bust
ness went just as well if there had been never
so much wheat and cotton in the stores. What mat
ter is it whether there be crops not, since getting IN
to debt answers the purpose? Upon the shrlvcl-
ed up plan which prevails, man can get an
inch farther than he see his way clear to pay
We have good stock of fresh goods in market,-not
an extravaganza supply but more than can paid for
at remunerating prices There is perhaps onehird
more than is wanted; and the consequence Is, that
the goods will bring but two thirds Of price. There
is so much to pay WITH and no more; and whether it
is to 90 for less goods: the aggregate is just
the same. As the quantity of goods increases, the
price diminshes There is elasticity in the times
They made Of iron, and not of India rubber as
they used to be. Some people say that such times
we have now, but the natural and necessary con-
mery and that every thing will right at last
These chiefly people of theorisng and metaphy-
steal turn of mind who always pretend to see beneath
the surface. But it is much easier to judge of things
they appear before Let any man look at things
they are n,w and then let him transfer himself to
SO and look at things as they were then, and say If
the noble system of remaining in debt is not immea
surably superior to the system Of paying up