Virginia free press. (Charlestown, Va. [W. Va.]) 1832-1916, 1842-07-21
Gbe rrt i1rrss7


s,s-..s:l -. q. !. y enieatloqs promised %
I,s.aingppon ne subiect n efsail, Of he y,
- n-te eeen TOO much engaged is
say Is thfcwn out rather a IIs,. y, q
Isheeilan, hnd will claim ~ Il,
snafscer r. grave treatise bpon Il r,o.s
- Porlani subjeci. n - = = iaos1 !
2 70 many persons il nav s. rnn.e...... .
aiess word 90 he value and nse ~ y
! eneftoq and the unexSmpled r,r., $3.50 I :
{ IaPla adpancement Of cur c6an,rv !. IN q q
oesn and Sill Is exlensivelv p.ed .-.sr. I =
sooSineed and satisfied ererr tbir ~. ~ "
indeed, Il would hazsyd nothing Il 49,, 80
unnon. Us benign inn1ence and r,.'.s. :. ~ =.
our country would al This mDmen, x - e A..
llee years pehtrd re present Advance ner, ~
moral and physical As deere are so,Sz -
~, Pslsons ne are opposed 10 il en,ireiy.
~. enaeaYor 70 examine and explain he pt.l,e
4 s1eais eno me ways in which il is used.
a. we history OF credit. The hrsf thing 10 ~ !,
Mslkeu Is mat whether credit be given by nd
leuAls, % Hheihef the Staleshas created corpo
Ia.'ons 'nrpngh which lis blessings may 81 NOR
svntenientsy disiIibuled-in whatever fcfs,
may exlst--lhere is foundation for !, 4 NJ.
ture things and an nyincible necss.,v ~ !,
existence ftislrue that credit - s, y.
Dqt 10 The ample sense and purport ~ M. go.
~ = trust and confidence NECESSARY = ~ ~.
relations Of life. Socieiy could no. exist r,,sen
!. nor could individuals. We have op,y d, :.
neet, and We shall find lEat trusl. fam ~ !,
o'nen words credit, is in as daily use. ana : :,
indispensable asany Of The senses that we con.
stanIly employ, and Thai are neceSsarv e. -,
preservation, Without faith IN the 5,.n,s -
rfovldehce-w without that credit ,hat e,n.,.,. /.
fetarn when We I'LL our fields. he kar,h 800
vould oe waste and barren. and ihe sl,,,rard
~ou,d ioia Prs arms in Incidence and .sref,1ss 81
Sow because OF lbe eold.n Ahd 50 too anens
nsn y mere was 20 trust o. confidence 10 eel.
a 49,. snsn--n tpey could extend credl to each
o.ue, - notnings The whole commerce Of soeirtvs
t.. $3.50 cease, ankevefy interchange whether q
end. Men would exist in misersb le sols,;o..
perish from want Of something 10 bind ihs,,,o
gether. Indeed sa-i-.y has Deen defoa5 ~.
able pslfs,rai Economist sqssens 81 $500 hs -
And % spsh system credit is vitality essential,
80 much for The general subject. Bpt n.
view We now mean to take Of credit will i 80 |
npea 10 that c;edit which occurs n the conr,L,.
,lai and Peenniafy transactions Of men. Tbere |
y Two glasses q credit. First, the credit IL,
~ indlyidaai gives 10 anolher-sand secondly ~
p luinfsned 10 individuals or The essa.
nun,yl " corporations, created for the purpose
y The Stale. Il is directiS the reverse Of ,he I
perish credit doctrine, and The doctrine ma,
every man who trades on borrowed capiraI |
houid break Il admits and recognizes the fiebt
y every man, r3or tho be be in exierna proper
y, as lands and money, if he be rich ia honesty.
percy, and Judgment, to found upon these
fedt That VIII be useful TO himself and 70 others
tglores 10 be, what il has been well called III
X pk mans capital" and 10 place him above
ps,;on. Hser wilh his measures, or him .swho
I'm me pfI6e IS YET without Iose ca
pwmenls that alone make distinction among
1en THE piih o. sense and pride o. worth. II
This is The Divine capital, bestowed by the ctes-l
Or himself, 10 Whichserect lends wings, and IFS
rom subsetvieney and dependence No distinction
md usefulness. II is the opponent and foe q
hat purse-pfouc arrogance, ihattrampling worth
ind meri: in the dust, would al the same time
lepTiye the world Of lis brightest ornaments and
most active benefaciors. This world was not
made exclusively for rich men, wko stand in no
iced Of credit, and beast their independence;
lut they are as often dependent upon the poor as
he poor are upon them. The philosopher: said /
veil 20 the lyJaht, "Iwantgold which you have,
ind you want wisdom which ! can imparl 10 I
'on.n That money, as means, is Important in I
ociely no one doubts butthatlhere are other /
hings far more Useful, and from which money /
iseE must often seek protection, is equally true /
whether WE look 10 the halls oflegislaton, or 10 i
be head bf GU: armies 10 times Of peril and war I
u 10 the whole circle OF useful arts and sciences,
We may easily conYnce ourselves that the most |
iseful men Of our race are not furnished from 1
be lap Of wealth and Incidence and ease. They |
ire most frequently the offspring Of necessity ard /
,overly. Credit eleva:es such men from imbe-
;iliiy 10 strength, lends them the power and
means Of doing good, And all society receives, !
o their energies and benefits, full return and /
ample nsury fcr all il has loaned. Break down |
he credit-sysem and you viii crush and destroy |
he ellie Of cur race Selfish. stupid, purse |
,roud insolence will have full sway. All COM |
,etilion will beremoved from itspafh, and ali The
rover and The affairs OF society will Sc 10 the |
lands Of the rich. Will they be more safe 10 l
hese hands, Let a brief history, that We End
a the writings ofihe wise man. answer: There |
vas a little city. and few men within il and
here came great king against il, and besieEed
I, and built great bulwarks against il. Now
here was found in il 4 poor wise man. aud he |
" his wisdom delivered the city; JET no man re-
that same poor man. Then said |
wisdom IS better than strength: neyerIhelsssth the
,oOr mans wisdom is despised and his words |
Ire mol heard"
Tie effects Of NE etsdit system then are two |
cid while il fosters and encourages the merito- i
ions and enlerprising, il secures 20 soctety - 1
aTge tslents and eneikies thatthe rich are rarely
10 exert. | have heard il urged 90 |
he olher hand, by those who had hoardei money, \
ind who had direct interest in removing an
competition and Kidding themselves OF il, that ii
vas not fair and honest lhatthe poor man should l
anticipate his means and bring his crcdft ia com
,e,ilion with their cash their precious gold and
,ilver. par excellence There is % force or
Justice ID the position, however that could ever
'ee. All properly is founded in the arbitrary
viii Of society, and may for that reason be veryl
properly subjected 10 such rules and regulations
Is are most consistent With lis general lcoGse-
lience and prosperity. Weallh alVayx carries
With u sufficient influence. indeed TOO often an
lndue inaueHce, and thefefofe il is prudent and
pFpper 70 create counierpoise that may keep il |
Ei'hil fair bounds, and prevent its entife PIE.
dominance and dominion Ia countries where
here is no credit-SyStem, OF a very IimIiec kne.
wealth may be said 10 be omnipoient iii. Is M
and without check or balance To
France. where il is very limited, aud 10 ita!y
Ind Spain. where credit scarcely exists The few
i've IN Influence and spsendor, and the mahy 10
rant and indulgence ;-lhe few dkeil in palaces,
while the many, wiIhnus col o. shelter, dwell in
he open air. With such fae,s before orr eyes,
IRE weao be told, in this happy land. uhsIt'the
1hole picture is reversed, ahd where cFedlt has
lone 50 much TO eqnaiize wealth and h&pPlness,
ha1 this system is 10 beabandoned, and that 1he
poor man, whslever bis honesty, industry, and
enterprise, has no rieh3 20 Anticipate his casa,
percha1ce in the purchase of a shelter fof his
Iamilys All arerefdy 10 answer that they would
aoi 70 ehis far ana VI, Va lhem abolish he
credit system, and "a Ills s'eomPie4i0n i must
COME al last Examine The auesiien Is you may,
sin i IS 700 will, And yoH will ind mat every
si(ScE rpo1 credit, and every permitted practice