New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-09-07

I'm f.,.sd isInst az sa3 Aasiitaii"" "f lsst " "'"
Ans "a q benahsspt consequence 81 h'A IN
pio'smfht In epf gahafsl sohdi,i"s' us e"'if"'
oa, farmers. 40 far az possible. ~ t"fh ''Af .
,vtasf IN tLn matter ~ aabt ADD afHai,, aa9
nsL,e 4 n.ly G6t b. moitgsge theif e"P be
fo,a the, have gftwn u. bat Halt thsir ~"
ehsss 10 n eifmrsts aud pr as ih'y 90.
f. the advice hard 30 ioiI"r ~ n" mshA''
n is onIJ HARD 20 Legin 10 follow Il. We know
that may II not mo.t Of our farmers arc IN deb.
md eaniot instaniiy sItiicA'c thsrnsei's'i Bat
ury en- get out and keep out Of mercantile
l,Lts will Pos Of the mortgage gfsf1-
ally. but have no running nc ,0pats at the stores
they ere Issues through which many a noble
,.,,,uou, Las run ost. The me rchsnt doe. and
us,f charge more IL be credits than hs would II
hs ,Oid On,y for ready pay there Ia no help Tor
II. On the each system, he might turn bis capt
tai over several times in each year; nov he
doe. very well if be turns It once. The easy
sl0ucLiBg fsrmtT meEss 10 square Oil on "hea
b.. sell, bis grain or his cheese; but the account
IL a good deal larger than be supposed 1t would
cr could be; then his daughter IL to be married,
or bix son il setting Of to the West and must
have sn outfit; 30 be pays part, gives nste f'f
the balance. and bee;ss to run up q new score.
The merchant considers hin good in the long
run. and continues to trust him but next year
| fro.t or food, or hail, or 6routh, cuts his crops
short and now the whole years bill must
| be put into q new note, aud Interest added
10 the old one Finally, the debtor becomes
di,couIaged and takes to drinking or he
h. Aarf
bis farm ard AL be has 90 TO bis creditors;
10 he paddles of for some new location, and the
merchant loses bis customer and part If not the
whole Of his debt. Such il the vicious system
which keeps our farmers always in debt to the
merchants, the Country 10 the City, and America
10 Europe lts complete abolition would he a
treat help 70 American manufactures and Indus
trial development, which ale now crippled because
the wealthy and long established foreign producer
Of Wares or Fabrics, having the command ofunllm.
tied capital at low rates Of interest can give larger
and longer credit than bis comparatively young
ssd poor American rival can possibly afford
Hence bad harvest impels commercial convnl-
sion; it has been eaten up before it was grown,
and it, failure works universal bankruptcy. The
farrner or planter cannot pay bis merchant; he IL
consequently in default to the jobber; he to the
importer; and the latter to the manufacturer or
his banker in Europe. And the cost and risk Of all
this fall at last on the men who save and thrive
and Pay. The merchant must charge profit enough
ON his good sales TO cover his bad debts. If this
yenr's crop were to pay for next years goods in
stead Of Last years, the producers would receive
for han ha uiv
them.
The true principles OF Business are little under
stood among us. We have too many merchants,
too many unproductive consumers generally. II
our farmers and artisans would never buy goods
until they were ready to pay for them, competi-
ton would reduce the profit thereon to Onefourth
it's present average per centage, and berate seven
eishths Of our traders to engage in other pur
suit. If one-teDth Of them knew enough to stop
crediting inexibly, reduce their prices to the fair
cost of procuring and selling on the cash system,
and then spend for year or two half their profits
in advertising, they would inevitably secure nine
tenths of the entire trade. Thrifty farmers would
not continue to pay, as they now do, through the
mercantile credit system, twelve to twenty
per cent for the use OF money, which they might
borrow directly on good security at six or seven
per cent and as to the untbrifty and irresponsI-
bic, who would still adhere to the credit system
they would run out those who trusted them III Is
the thoughless adhesion Ct the better class which
keeps the system on it's legs whenever they lot
90. il must fall And az for the merchants, who,
seeing It's vices still cling to the credit system be-
cause they think they cannot otherwise find Gus
tomer,, they are the victims of sclfdeluson. A
few years since, it was supposed that newspapers
must be sent out on credit; but few bold spirits
rev oted and now three fourths of the periodicals
sent out from cities paid for in advance to the
signal advantage of all parties 1t needs but ade'
quatc effort, by competent and substantial men,
to work similar revolution in Commerce. rev
olution which the true interest of all classes i'm
peratively demands.