The Arkansas banner., 1850-09-17
fwsittsa fbr lhs Banner. l The Credit system.
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NUMBERI.
 Mr. Ediior: Living, as we do, In . land of civil and rsiisioas hhetty--under government the Fursst and just the werId hss ever seen, and in an age asparseied fOs its progressive character, the oPpostsaity Tor the brosching Of any and ail sub. jeeis. the thorough and proper understandings OG which s, in any respect. calculated to advance our in,eres's, is peculiarly aaspieiOus.
 With the view and kops oi being ussful to ihe community in which live, and to my country, |, siT. with yoar permission, propose communicating. through the columns Ot your paper. few short tietes upon the subject with which this Is headed THK CaKDrT SYsrEA..
 Long since, tt has beea the hoaest and settled conviction Of my mind, that the credit system, to the extent 10 which is is extended tn our land and county Is eIetstous to oar highest interests snd brightest snlcipatiOns Of success ia life. Indeed, ,s, is the bans of eus lanl--a mighty incubus resting uPee ths great body of the people, the raihOas sG. scts Of which lI be eEelong fet Ay every class sl society. Without fasther Preliminary. proceed ai once 10 oiEes my objections to the system:
 First TAs pfsaisss upon rAieh ihe system IS based are unisaaas sad roiiea 10 tas core. Now in order to show this take the agreement srtersa into by the debtor and creditor: |, ihe debtOs. purchase lele Grom yoa. the creditor. promising te pay you within certain stipulated tims. Al the time the purchase is made verify believe shall be able to meet the liability. and 60 do you. otherwise you would not extend the credit. But how does the matter ,urn out, Are your expectations always realized. No, far from it. From some cause or .A.. kt~Az Iiquidate the debt when t falls due What is the eonsequenee' You. too, in your turn. have your creditors. who must suffer- and they. in their turn, have theirs; and so on, throughout the whole chap ter Hence, you plainly tha, this credit is based upon, or suspended to. chain of uncertainties, the breaking or:hending of any link of which is ai,en- ded witha the most disastrous consequences. and which prove beyond doubt. the utter untensbieness of the premises upon which the system is founded, Second. Iastedd cf onstrsriag he ends tor wAieA, aras intended is dsstraeiirs ef thoss pcry ends Show me the community in which this monster, the credit system exists that does not pay 20 to 30 per cent higher for every article it buys than the com muaiiy in which it does not exist. Furthermore, show me the people who avail themselves of it who not oppressed. A slight recurrence to cur ob- setvation and experience proves iacontestNby that ours is ground safe and tangible. Facts. we are toid are stubborn things; and to such capable of apPseeiating thca. and 10 such aioae, submit them.
 Third, The tendency ef tAe system is demorsixins tn ifs RGtuSe. Man is so constructed by his Creator that he cannot long bear the hsrrassmen, and per plexites incident to debt and preserve a due and just equilibrium of all the moral feelings and sensi- bilities. Debt forms fatal whirlpool, into which have been drawn the quiet of the domestic circle, the harmony of society, and the peace and prOs- perity of country at large. w hin its iron and compusive grasp, lauduble ambition and un,rIng zeal, bright hopes and fond prsdiiecton, have been forever hushed. The strength and beauty of morai principle, holy aspirations. an earnest of joys n- mortsl-al falling willing vOtares before this vile monster. the modern Jugernaut-D While upon this par, ef the subject, the scrpura iniune- tion with all poiDtedaess and applications forces t. self upon our mind, "0ws no man any thing
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