Camden journal. [volume] (Camden, South-Carolina) 1852-1852, 1852-02-10
The Credit System.

4 Is an undcniabie fact that tais system Las done
an immense amount Of evil It is bad rule, work it
as YOU may There certain classes ofmen thatmay
possibly be benefited by it, but even in extreme ca
scs we are not prepared to admit, that II is either
safe or advisable rule for business to follow. We
will take for example the laboring class Mechanics,
in most cases who absolutely dependant upon their
daily labor for the means Of subsistence. 1t does seem
that these mcn should get paid for their work promptly
and vet it is notorious and lamcntable fact, that in
TOO many cases the poor mechanic is obliged to leave
his bench and board. and go a moneyhunting ex.
pedtion every time lie gets lard up; (Which from this
aboninable credit system Of ours occurs very oitcn
bv which means he loses hours perhaps day at
time which to him might be employed in his shop to
great advantage Time is money. and to the ahorng
man who is honestly pursuing the arocations OF lie
is no small consequence to lose several hours in the day.
CountNp the minutes and hours lost in dunning slow
customers ard the aggregate at the end Of the year
will be surprising.
The evils of this system are manifold. We will not
attempt to enter very far into detail but may mention
few to show how much better would be the condition
Of all business men, the system entirely abolish
cd Ifeyery person would adopt tho cash system,
how much better would it be for all? The merchant
could not only sell cheaper but realize greater profits
for his labor We are met here with the objection that
the idea is inpracicable and that such plan could
not be carried ont. We don't believe it. Where is
the difference between paying at tc first Of the year
or at the last Of It? The difference il, that the buyer
as well as the seller would be benefited by the change.
Credit has ruined thousands Sometimes man is fiat
cred at the idea that his credit is so good. Every
body wants 10 get his name their books. He is as
good as gold Don't all business men know to their
sorrow, that this is often the greatest error against
which they have TO contcnd 1t IS not all gold that
glitters and sometimes our good turn out to be
small potatoes. This thing has happened over and
often. The merchant who sells on time is obliged to
charge more for his goods than if he got the cash in
hand The adage isa good one as well as an old one,
that bird in the hand is worth two in tho bush If
he sells for cash, he buy for cash. and in that way
the rule works well bu; where he is obliged to buy on
time and sell tbs way he must necessarily charge
'one profits to cover accidents If the system to
pay as ysu 20 was strictly carried out better state Of
affairs and feeling would exist in the community. No
crossgraincd grum0ing, oppressed hard upindvldual
would be seen, who had note to pay in the Bank and
didn't know where the money was TO come from
whose notes and accounts might be sufficient to pay
every dollar he owed in the world but what good Will
that d. if he cannot get his money? lfhc duns too
hard, people get vey4d and quit HIN. lfhe resorts 10
legal process to collect lis dues he makes cnc-
mics forli!t, and sometimes prepares himself by that
!notus-operapdi for gcntcel drubb!ng Viewing the
L. H., IL, &,
an cy-a growing evil and that continually. We
have said nothing Of good many classes in society,
who are oppressed by this system. We know t!at
there are very many who make accounts from one
years end 20 the other who puncual to the day
Win such it is pleasure TO have dealings. Under the
most advantageous circumstances, however the credit
plan is not as good as tie pay down one. Misundcr-
standings and difficulties would be avoided if cash was
the word Every man is liable 10 error, and it some
times lappc.s that Of the head only set down
10 those Of the heart Where the doctrine Of credit is
rcpudalcd and the cash seals the contract there is
room for mistakes and Observation-Disclosures they
occur they may be adjusted at once; but where
counts permitted to stand open year alcryear they
become confused, and even when a note closes up the
book, men may imagine the debt isl paid whc noo
is given. 1t is impossible for any business man. no
matter how careful in the management ofhis affairs he
may be- TO settle promptly with his creditors if he is
dependant upon his debtors for the means unless they
discharge their respective duties towards him.
We have no particular point in writing this article,
and have no personal allusion in the matter but only
make these observations generally, upon the general
subicct-dcprccang III our minds most earnestly the
ruuous system of credit which has IL jared our country
not little and i'll too many cases led to the most Sc
rous and painful consequences.
We have no doubt that large majority Of the me-
chalics of our town would Join us in saying that they
would rather work third lower and get the money
down. than at full prices and wal; from 10 IL months,
and too often lose the debt entirely quick penny
is better than slow shilling man must be lost to
all seiErcspcct who would cheat mechanic, and yet
Printers are often cheated out Of their hard earnings
and some magiuc they do a smart thing thereby. But
We would inform all SUCH that if they williuy deprive
the printer Of his dues they may expect to be annoyed
hy the shr cry Of his juvenile satanic majesty whose
prcrogative it is 10 say to all dcnqUents, Pay the
Prntcr
'that sometimes people stop their papers without pay
ing tlc arrearagcs"
Ia. o,,1lc, krn,v cor