New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1847-03-17

ness, 90 long as no gigantic and papabie evl IN
duced by such habits or modes is pressing On the
public attention. Still, az every voice, however
lonely or feeble has some share IN making up OF
modifying the imposing aggregate known as Pubic
Opinion-ss by the continual dropping OF gentlest
rin the hardest rock is ultimately dissolved ana
worn away-so may our unwea1ed renonsuaDcS
against the presen. character and extent Of MercSn
tile Credits prove ultimately 81 some avail AT al
events our convictions in the premises shall be
faithfully obeyed.
Thu. The present system Of selling goods On ere
dit from the City the Country and from the great
centres Of importation N the lesser emponums Oh
State or ether region, az well a. from the retailer
To bi. customers, il deploraby loose, expensive and
unstable, need hardly be reiterated. That II mas
been somewhat modified and restricted WITHIN Ine
last ten years is freely admitted STILL the ex'
pepsiye and cumbro1s machinery whereby our
merchants seek 70 secure themselves, imPeriectiy
at best, against losses by the insolvency o. pef
customers the frequency Of cslsmitoos iaiiu'es'
even in times Of general prosperity the necessary
enhancement Of the cost Of all articles thus maze
the basis Of hazardous speculation and the newt
able tendency and temptation 10 over trading and
reckless expenditure--these and many more con
siderstons forcibly urge the abandonment o. our
systen OF Mercantile Credits. II must be evident
that the One Hundred and odd Millions of Dollars
worth of Foreign wares and fabrics with the pro-
baby at least equal aggregate Of Domestic Goods
exchanged through the agency OF Mercantile deal
ing for the products Of the Soil can only be AFFORDED
70 the consumers under the prevailing system Of
credits at much larger average price than they
would cost if the goods produced in any year were
exchanged for the Agricultural staples Of that year
instead Of the next Precisely how much IS the
excess paid we will not undertake 10 say but that
il must amount to many millions per annufn no man
who reflects can doubt. And who is seriously per
maDently benefited by this
There never was time when the desired change
could be effected so easily as now OWING 10 tne
universal scarcity in Europe, and the presumed
elimination Of the Cotton Crop here, the staple pro
ducts Of our National Industry have commanded
and still command extraordinary prices. The in
creased market value thus given TO the staples Of
our Agriculture cannot fall below One Hundred
Millions Of Dollars Now, as our Farmers have
hitherto been the indebted class the purchasers oil
most of the goods consumed on credit, why should
they not come 10 general resolution 10 use the
surplus proceeds Of their last crop in getting out oil
debt 10 the Merchants, and thereafter keep out
Would not this greatly diminish the cost OF their
wares and fabrics henceiorth3 Would IT not ben
eft all classes except perhaps sheriffs and their
deputies officers OF Courts and a class of Lawyers
who could serve the public more efectualy IN
some other vocation
We know well that any Reform which may be
effected in this department must be the work Of
time and struggle and in part Of bitter experience.
Now. when the requisite change could be most
easily effected. the larger number will not think OF
il because they are at ease and seem prosperous
by andy, when the evil day shall have come, they
will think they cannot accomplish it because cir
,umstances are 80 unpropitious But let the wise
anticipate the evil day and if the unwise will not
hey must abide the Consequences If one hall the
business ofthe country throughout were done on the
ash basis the other half would commit suicide N
he course Of a few years and Trade then glide
naturally into sound system. The evil IS iormid
able because it is SO nearly universal
We need not repeat that we are In favor OF
Credit and Credit System. Let the Contractor
the Droyier, the Miller and whoever is engaged IN
forwarding the produce Of the Country 70 market
pay cash in all cases and let the Banks and CAPT
tasts loan the money to do il with to men OF tried
integrity and responsibility. Let men OF means
END TO those who legirimately need but do not
let Merchants, who require the ready command OF
oil their resources trust the bulk of them out in
loose credits of three to twelve months to those
who ought not % to run in debt, thus compelling
the farmer to incur debts to importers and job
Ders in turn. Cash payments and small profits
would be better for the honest and solvent on all
sides--we speak from experience both ways. Few
er goods might be sold, but would be paid Tor
than now; there would be fewer merchants and
fewer bankruptcies in trade.-We
say this with novthought of commencing those
traders who profess TO sell only for cash We know
any merchant will sell cheaper for cash tharShe can
afford to do for credit, however undoubted Bay
anywhere but buy for ready pay, buy only to the
extent Of your ability, and all must SO well.