Southport telegraph. [volume] (Southport, W.T. [i.e. Kenosha, Wis.]) 1840-1850, 1845-05-27
May %, 1916.

The great mass of mankind are apt tt
think that The institutions which have exis:.
ed around them, from their earlier days are
lmmu able in manner and must Of neces-
sily DO tolerated. Thus, very few conceive
of such thing as an entire abandonment
Of the credit system. The evils which at
tend upon this system and at all times man
fest, and occasionally monetary convul-
sion brings them out TO more immediate
view; but the question is never to abandon
the system, but some new change, some
modification is proposed 10 remedy the evils
which have been suffered.
Looking at one side of it the credit sys-
.em has lis advantages. BY means Of it in
great measure the internal improvements
OF the country ale projected, and complcted;
the resources of the country are developed.
new sections are explored and filled up, and
constant rush in all departments of bust
ness, is continually kept up. But it has its
evils. Improvements are projected where
they are not waited, and IcD, paralyzes the
che' es Of state and people. Capital
gets mo the hands Of men who are not quail
flied TO use il; the consequence is failure,
and general distress among community,
but its worst feature is the thousands who
are entering life, finding it easy TO get into
debt do SO with the hope of paying, and all
their life struggle in debt, with energies Of
body and mind in manner crushed, and
with the most detrimental influence to soci-
ETY.. The same results which the credit
system accomplished would be accomplished
without it, but by no means so rapidv.-
Without it, we might be century behind
the present age, in the matter of business
and lis thousand appliances; but we should
be century in advance in morals and gen.
s:al happiness We sigh much ever the
happy and contented days of our foretathers.
1t is the era of credit and banks which has
made us SO much unlike them. The i'm
provemenis we have made in the sciences
and mechanics, and the application of them
10 tho creation of the elegances and luxn-
ries with which the world is filled have their
Offset in our retrograde in morals and happi-
ness.
| Whether credit between man and man
should be entirely abolished, we are mol
prepared to say, but we do believe that the
present system of edit, should be abolish
er pational or state, entirely disconnected
from institutions of credit ei'h,, directly as
partner, or by laws creating them. We
would have all laws of the land entirely dis
connected from the sys,em-that is, VIC
would have no laws for the collection of
debis-or which in anywise inter!ercd
in the Transactions between man and
man. That this would do away with
all Circulating mediums, except such as pos
sessed an intrinsic value, we bel but
it would not entirely destroy the credit sys-
fem. 1t would root it out in every place
where it could be dispensed with, and leave
it where the health of the body social and
polite required it. Oar plesent system OF
business is one which is full of huctuaiion,
and frequently where one step forward is
gained, we fall two steps backward. E"ery
Thing rests upon on uncertain and fictitious
foundation; what is here to-day is gone to
morrow; and in addition to the feverish OK
element which is continually KEEP, up, we
consider il by far the most prolific parent of
the vices which are abroad. Without ii
every step taken would be a sure one
True we should step more slowly, but should
rest upon sure and certain foundation; the
ieyelish excitement would be lost, and as
we advanced in INTEL gcnce we should i'm
prove upon the virtues and happiness of our
fathers, instead of falling back as We have.
|: will read ly C seen thai according to
our idea, what little credit we should have,
would be based on moral instead of a
property qualification. We arc aware thai,
many will ridicule this idea, but certainly
upon reflection, no man will contend tina,
even with an indscrmina,e credit the losses
would be much greater than now. Tho
idea that tie morals can ever reign supreme
n nan is hard TO be cntartaned by the prea,
mass, but il mus, be recolec:eI tina, ali our
insiuiions-al our Thoughts and ideas have
,cndt d 10 different conclus :on-aad il re-
quitcs only IN our opinion 10 think d fer
emily, and To commence the exl eriment to
prove that The moral man is destined 10 be
AMI will lie the governing power over BIS
action. The system we propose would APP
peal to and reconze the supremacy Of the
.. moral man. That it would at frs, be a,,en-
ded by d iticulty we do not doubt, bu, we
would come into it gradually, and satisfied
thGt what evil might be endured would be
tn parent of much good. Every man in
business finds many tina, lie would credit
willingly ,.:aon their woodland not because
Of their ability, but because of their moral
honesty. To this would time bring all, be-
c ,uss the morals instead Of The possess on
of property being made the criterion of Gre
dit and standing. their devel"p Hment would
b encouraged and condueed to. A little
reflection will couyiaes every man, how
powerful would be the impulses compelling
a man 10 keep sacred his word in COM
muniiy-where their whole safety rested
on the bass Of moral honesty; vastly more
powerful than al The appliances of legal
machinery which have reference alone to
property. A man could not 1--we in com
muniy, where under the circumstances, his
word had been willillly forfeited Now a
+, days il is no great crime TO avoid the pay.
! ment of debt. The law is at hand, to al,
: tend 10 collection, and The creditor and com.
nuniiy generally are perfectly willing thai
! the law shall takes its course: if nroperi,
can be .ound, we'll and good, if not. nobod,