Semi-weekly standard. [volume] (Raleigh, N.C.) 1853-18??, 1857-04-15

York Mirror, will commend itself to every person
Of sense and reflection John Randolph once rose
suddenly in his place in the House Of Represents.
tives, and extending his long arm and bony forefn-
ger, exclaimed, "Mr. Speaker, have discovered
the philosophers stone, both for nations and indi-
viduas it is, pay as you gor" He then took his
seat.
We have been dealing, for the last twelve months,
on the cash system. Our kind and indulgent pa
irons have been watching for the cross-mark,"
and renewing their subscriptions thereby obtaining
their papers for So and 49, instead of and S. and es
Gaping the annoyance of collectors and the other
hand have been paying the worthy aud Industrious
mechanics who do work their wages regularly
cry Saturday evening-and indeed. paying for every
thing which we receive, whether in materials or
work, cash down, cash on demand We have
adopted the same rule in all private transac-
tons. We ask credit Of no one but pay as we 60.
We are satisfied it is the best system for all.
True it is, there cases in WHICH credit may be
properly resorled to, as for example, when young
man of good character and business habits COM
the world in his trade, or in the calling he
has chosen, whatever it be. In such a his
character and his qualifications are the basis for cap
ltaI. he commands IL tueTeOy, USES
and lays the foundations of good living. Far be
it from us to censure the credit system thus used.-
Yet the credit system, it now prevails is one of
the main causes of extravaganza, dissipation, and
bankruptcy. Spend nothing until you earn some
thing, is good rule. Keep within your income, and
stocks may go up down. property may rise and
fall, specula may make may break, and it will
not seriously affect your fortunes.
But to the article to which we Just now alluded ::
"PAY AS YOU Go-TuE CREDIT SYsTEM.-Dr.
johnson said very wise thing when he advised his
friend to pay cash for everything he bought, ready
money being such check the imagination. If
the lady who is tempted to purchase costly diamonds
at Ball l. Blacks had to count out the cash de-
livery, her jewery bill at the end of the year would
probably be only hundreds instead of thousands.
Ard so in all kinds of business and among all
classes of buyers-abosh the credit system, aud
you do away with extravaganza. 1t is easy to
in debt, and so easy to order thousand dollar
kncls- knacks, when only has to say "charge
it" that even prudent persons, who mean to be
nomi.al, and never 80 beyond their ability to pay
constantly led into the purchase of articles they
do not need, and for which you sometimes find it
| difficult to pay.
In the fluctuations Of speculative business, based
on the pernicous credit system, comparatively few,
| of the reputed wealthy, know how they are
coming out at the end of the year. Stocks may go
disastrous. The gambling operator" suddenly tia! :
bergass," and his palatia mansion, filled with what
Mrs. Partington calls articles of "bigory and vir.
tue" must be sacrificed to pay his debts and his
differences" The merchant, who has sold "a
| million on time" as heard dry goods importer
say the other day, cannot tell whether his house is
founded rock on the sand; and there are few
| men whose property is securely invested, that
! their riches may take to themselves wings and
| fly away" No man who runs in debt to-day is alb
much less three or six months hence. The doctrine
of chances and probabilities may favor his hopes
but any of thousand accidents may upset all
his calculations
The more reflect, therefore, the we
convinced. that not money, but credit is the ''root
of all evil" and the only wise system of trade, the
only remedy for multitude of social evils is
be found in the golden maxim Pay as you 60
Let the rich, who have the cash in hand, begin the
reform to day. and every vein and artery of the So
cia organism would feel glow of quckenng vitali-
ty, prompting to all of benevolent actions lead
ing the NEST blessed results. Debt causes thou.
sand fold more suffering than African slavery; and
yet our phan,hrop;c reformers have sympathy
for the exquisite misery entails and voice Off
buke for the evil that produces it. The Southern
planter sells his cotton before it is grown; The North
farmer his before it is harvested; the
merchant realizes his cargo before it arrives; the
builder mortgages his house story by story; and
everybody buys on time, in the hope Of being rich
morrow than to- day. And this is the great and
radical wrong OF society, almost prolific in evil
1.-THE fruit of that forbidden tree,
Whose mortal taste brought death into the world
And all our Woe"