The Cecil Whig. [volume] (Elkton, Md.) 1841-current, 1855-03-03
1ltJt:lcGG @}ccforIgy.
THE CREDIT SYSTEM;
FOR Ike Cecil !jAig.

Is it good Or evil; an advantage or q dis
advantage to our citizens and country at
large. I assume 1t is evil and disadvantage,
generally. have TO doubt that many good
meaning men will &c startled at and object
to my theory, rs long established usage be-
comes kind OF second nature, and what
men have been accustomed too from boyhood
they r,sgrl as right; seldom if ever looking
at the rcasola, or attempting an investigation
for themselves. Hence 9 change in opinion
or practice is looked at by them rs detli-
mental, and every suggestion looking to
change, or TO introducing any thing new is
regarded as hulnbug oI Of doubtful utility.
Consequently they reject it and move on in
their CID course.
We will take a loo!, at some Of the evils Of
the Credit System; many men have been in
debt, arc still in dcbs, and think it cut Of the
question for them to get out of debt; are con-
tlnualiy making new contracts and meeting
old obligations and are harrasscl and run to
death-hare no satisfaction vail, they live
and have thorn in their dying pillow; and
having been so troubled in life they have
poor chance to prepare for another world
and leave perhaps, . little property to be
covered with debt and nothing left for wife
and children.
There are other men who are easily per-
suadcd TO buy what they don't need, merely
because they can get credit. These men
usually have interest and cost to pay in the
end. Othe" men so into business with a fair
capital, they trust out their wares Or MGR
chandise and buy on credit: then begin to
take notes and give notes, pay discounts, sc;
then their trouble begins and the longer the
worse. Their bills payable and bills receiv-
able increase, and also their troubles. AS
long however as the banks will discount, they
can move Oil. The Banks are, however, eau
tious; they set their bounds which they will
not pass, and when paper lays over, or too
much paper offered with one set of names,
they will stop and the parties are driven to
the Brokers and the streets, and to all man
ner Of eXpcdients to raise the wind and keep
their credit, submitting all the time to heavy
shavcs till at length their whole substance is
shaved away, and they forced 10 break. They
then receive the curses OF many, after doing
as they think they best could; but they can
not make their creditors believe that. They
suffer, some justly and many, no doubt un-
justly, but still they suffer in their character
and often in their health; their families, also,
are often the greatest sufferers, while they
| themselves drag out a melancholy and mis-
cradle existence, and go down to prcma-
turc grave. Many other evils are connected
with the system, but for the present will
let the above suffice
There Is money enough i'll the country, in
these days, to do all the necessary business in
every department.. We therefore can and
ought to dispense with the Credit System
altogether; and to do this one simple rule
only need be observed, that is: to earn and
collect our money before we spend it, in place
of spending b fore we earn it; then we will
be controlling Our by sntss, otherwise we will
live and die slaves to it. ANTI CREDIT