Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1848-06-30
From The Ns,c York ThiJune, Dc IS, lss7
Reform in Trade.

The year draws rapidly 10 a close its
Commercial transactions on a large scale,
are ended: Merchants are settling up their
books, taking account Of stock, and Just
beginning 10 prepare or 10 plan for The COM
ing season. Ii is Just the time to recti(y
mistakes and to adopt improvements, and
we trust the following crude suggestions,
though by no means novel, will be ponder
ed by many.
We have too many Mercantile establish.
ments-every body is aware Of that. That
is to say, business Of exchanging the pro-
ducts Of industry could be well performed
by less than half the number now employed
in it; thereby securing cheaper exchanges
to the producer with more ample or rela-
bic reward to the exchanger.
To illustrate this. we may roughly est-
mate the average sales of Dry Goods Job
bling house in this city at 5000 900 per an
mum. at a medium advance upon the cost
of ten per cent. Out of this must be paid
rent, clerk-hire. Insurance, the support OF
family. aud losses by bad dtbtS-lhe lat
ter item probably averaging $4,000 per
annum, or five per cent. oil the gross
amour, of sales. or course, we do not say
there has been FIVE per cent. lost on the
collections of this year; but we do say,
with perfect assurance of its accuracy.
that on oil the goods sold on credit from
our city within the last ten, twenty. thirty,
or forty years, the loss cannot be less.
The general result is that bad Debfs
work the downfall Of twoihirds Of all who
embark in business, while exiravagani ex-
pendiiures. tempted by the apparent rapioi-
iy and facility Of money.making Counting
the advance in price on Goods sold but not
yet paid far as Profit ruin large portion
Of the residue so tina, Of every hundred
who embark in Trade with sanguine hopes
of achieving a competency il not fortune,
nine,y-nine come out bankrupt, and not
more than FIVE ever find themselves able to
retire upon an independence.
The system cannot go on. Ii is already
undermined aud tollerng TO its fall. The
next Revision will very probably sweep
away the wreck of it. But If not, the ma.
ked fact that, under the system Of general
credit for goods, the country is always in
debt and paying interest 10 the city, and the
good, prompt paymasters are laid under
contribution 10 defray the prices Of goods
| SOHouhNu W wv NioSo NhO Poy ~ wv
end of lawsuit or not at all, is gradually
working revolution. So fast as those
who pay promptly and certainly come 10
understanding the matter they will back
out of so unequal partnership, leaving the
credit business to bad payers alone, and
that will soon wind il up.
J Not many years can elapse before the
large commercial dealings Of the country
will concentrate in the hands Of one.tenti
the present number Of JobbeIs, in proper
ton 10 the amount of transactions, and III,
general features Of the business will b.
these.
Instead of selling 100000 worth o
goods on credit at ten per cent. advance,
Jobbng House will sell 81 ,000. 900 wortl
at to 3 per cent. advance for goods un
affected by time or fashion, and TO s pc
cent on fancy fabrics. averaging. 2 pc
, cent. advance, or $4,000 on the year
business. out Of which rents, clerk. hir,
! &c. are to be deducted. leaving fair liz