Lewisburg chronicle, and the West Branch farmer. [volume] (Lewisburg, Pa.) 1849-1849, 1849-12-05

cent. on it's cost, and think he is doing we
. will sell thousand miles away At twen1
per cent. and across q continent a fifty I
, even hundred. " hen the nations Of Il
= earth shall have become wise enough
; purchase freely Of each other such raw n'
,eriaIs as the nature Of their soil or climal
iorbids them respectively to produce, eac
fabrica'ipg and commingling for itself, tn
aggregate tax levied on labor by trafh
will be immensely diminished. But Iha
is work Of lime.
The more immediate instrumen,ali,ie
through which q reduction Of this tax is L
be effected are, as we have hitherto stated
The substitution Of cash payment ior credi
as the common law Of mercantile trans
| actions, ami an immense and sys,ematn
extension Of advertising. And though o,
these heads we have little to offer thai il
novel. we would again commend them Il
public attention.
Credit. we need hardly repeat, is an ex
celIent. an indispensable thing. bu, grossly
abused. as excellen, things are ap, 10 be.
1t cugh, to be based on substantial security
We give credit to bankno,e which we
know TO be based upon and secured by a
deposi,e Of s,s,e stocks in the public Golfers
Of our stale VIC give cred, to man who
Protfers pledge Of undoubted property for
the Punc,ual pay men, Of his debt; we give
cfedi, 10 the man we thoroughly know as
man Of integrity and !ecnn'ary ability.
So far all is legih mate. though it should
still appear 'hatshe. person giving credit is
thoroughly atls so to do. Cre1i should
be given because The creditor is aLle and
willing 10 intrust some share Of his means
10 the less fortunate debtor, aud not merely
because the former is seller and the latter
buyer. Selling and giving credi, are
too entirely distinc, operations, and one
should never suppose nor involve the other.
Bui the existing system Of mercantile
credn 10 es loose and vicious as i; could be
and not lead directly to general rum. Our
importers buy in Europe on credit; our
manufacturers are too often constrained 10
sell through commission. houses on credit,
not because they desire or are really able
TO give il, but because such is the course Of
trade, and they mus, conform 10 it or no,
sell a, all. exsep, al q ruinous sacrifice.
The jobber, OF course, jobs on credit, aud
when his payments crowd him he is forced
10 credit not less, but more; for his stock
in store will moi pay his notes. but when
turned into retailers paper, though no, ab
soIu,ely known TO be good. it can, we'll en-
dorsed, be ground into cash. !, is no mys.
terry, therefore, that a failing house has
lots of bad papers among its assets; i, is
as natural as life. Ii has been making
sales TO keep the mill going, and could not
stop TO be nice. Thus green country youths
no, worth thousand dollars 10 the world.
but backed up by such letters as most peo
pie will write or sign without much con-
sideraiion or conscience, can come here
md &c. in debt for five thousand dollars
worth Of goods, when they have no Iegit.
mate claim to credit for one fourth the
amount. These they 60 back to retail,
lne ienths on credit, 10 Tom, Dick, and
Havry. a. glorious prices, but with dubi-
'us prospects Of payment. The notes iail
III around payment is demanded; a part
# the retailers customers have paid in |
work on his new store, or in provisions,
urni,ure. or fuel for his family; a few pay |
'unctuslly, their goods costing from twen- |
y to forty per cent. more than they need
+ there were no such thing as mercantile
rcdi' others pay at the end Of an execu-
ion, and OF course pay nearer hundred
or cent. more than the cash value many
ave started for 'rhe west," or have no tau.
ib'e property. and never pay. Finally,
u, not when due, the retailer pays twenty
D fifty per cent. Of his debt, comPr","isr,
nth his creditors. and IN ready 10 begin !,
gain. The jobber pays the importer and
Ne commission house If he can; The upshot
;, that The goods are not half paid ior-
U. those who paid al all, have paid far loo
,uch. I've whole transaction has been an .
to knavery, improvidence, I,
nd, oser-srading |; for, if there were 10
ysiem Of mercantile credit. not halt those
ow engaged in trade could pretend to be
, it at all. They could rot buy decen. 4.
lock Of goods il obliged TO pay for shem
nd system Of cash sales would speedily
educe profits 50 that a petty business would
OF be worth doing. The mere simpli6ca.
on Of business consequent on the disuse OF
redit 10 trade, would save half the time .
II