New-York daily tribune., 1857-10-19

Since the lo4e crash, we have seen intimatOns
that our Rassrn manufacturers, through their great
commission hOoses, had resolved to revise and re-
trench their systsm of giving credit for their fab
RIGS; and this was followed by a statement that
German importing house had resolved to classify
their customers, and give ] credit for six months
only class credit for four months, and all Others
no credit whatever. This statement has elected
from the house the following card:
To the Editers " The Ereaing POET
70
is without authority We determined however, in
concert with other importers to reduce the length OF credit
''''''' ''''''' IoEsciHiGK wEsENDoNk 4 Co.
We wish these importers and our manufac.
turers, while they are cutting of the tail of the
vicious cur Mercantile Credit would firmly resolve
to clip it just beAind the ears. They will find no
other place hsf 90 6t or eHectuA.
The libsrsl credits extended 10 jobeers, by i'm
porters eepeeisl,y, have been coo main Immediate
cause of our recent collapse. The importers are
generally men Of capital, who have ample credit
among the wealthy manufacturers end exporters Of
Europe. They are thus enabled 70 give longer
credits than Ne bulk Of our own manufacturers;
and this has given them great advantage in max
ing sales This advantage, however. he's proved in
the end disadvantage; since the more goods they
have sold in 1867 the worse od they will End them
selves at its clOse.
American manufactures are yet in good degree
experiments. They are established TO give eject
TO Lew invention, ID take advantage u capital
water. .poxer, to build upa village, or for some kin
dred purpose Profit on the manufacture itself is
generally . secondary object with the projectors
and managerial least, this is usually the less con-
siderable scarce of gain. Under sscA circum-
stances, the capital is obtained with dimouty and
furnished grudsingly. But finally, the works are
all in order, and the fabric or besns 10 be pro-
duced. 1t good it is cheap; it 10 acceptable
vet it can ealy be sold on six to nine months credit
Those WHO stand between the producer and the
consumer can buy rival foreign fabrics to any eIens
on credit, and they won't even entertain the sug'
eestion of paying cash for the American article
So here is q wide gulf between producing the
homemade fabric and getting pay for II, which
must be brdged over by the help Of Bank discounts
or az it best can If no credits for goods were re-
ouired by our consumers, or given BY importers
and manufacturers, American fabrics would stand
much better chance. The importer, having credit
in Europe, is measurably independent Of our
Banks or at least has two chances to eur manufac-
turers one
In our judgment, the day Of blOased mercantile
credit is over. The high priests Of the temple may
set Daeon ever 90 .quarely on bis pedestal again;
but the next morning light will reveal him PROSTATE
and headless. Importers Will do as they please
with their own; but if all Europe would soemnly
resolve never to give fraction of credit for her
products henceforth to any American, we should
gratefully rejoice. We do not need credit abroad;
we wish nore could evermore be gwen US. Let
u, pay what We now owe 30 far and so fast as Is
possible; but let Europe profit BY this years sad
experience and resolve to sell us henceortn 70 the
extent of our ability and willingness to pay down.
and not one cent further. This would Dc pest iof
us and 1--WE believe) for her also. We have an ad-
dictiou to bankruptcy which is not desirable IN
debtors but we are not beggars; on the contrary.
We are amply able to pay for al that We ought TO
buy. We could wish, therefore, that both our QUO