The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-05-04
THE DRY GOODS TRADE.

TCoMMCNfCATGoN.7
THE DRY GOODS TRADE
! To TEE ED1Fors OF TIE DAILY EXCHANGE
| Ge8.'e1ea:-It has often struck me fore ,bv that
while in our larger Northern Markets, there is no
branch of tradct that stands higher point ofrespect
ability and responsibility than the Dry Goods trade
here with by kird oftscit admission has been
and is looked upon in somewhat doubtful and sus-
picious light. As | never could any particular
saving grace in molassas or vinegar, more than in
cloths or domestics, and have never been able to
find in any books Of heraldry any patents of nobility
for the vendors of bacon and guauo. over and
above the dealers in ginghams and silks the rea. o.
it any, must lie elsewhere. And perhaps we shall
not be far from the mark if we look for it in that
cornucopia Of odds and ends familiarity called ''Pop-
uiar Errors Responsibility and respec liability are
inseqarabe virtues Prove that you have one. aud
you get credit for both Let the one be doubted.
and the other goes for naught. Now ] firmly be
iieve that body, there is not anothet class of
business men in our community, that could have
gone through what our dry goods men have en-
dured, and stood up as bravely as they against all
odds. 1t seems almost impossible to kill ten.
They thrive on Losses, and grow fat upon a falling
market. y on may squeeze them, shave them nav
skin them, and there are but few in the trade who
have not at one time or another undergone one or
all of these delightful processes vet they still stand
in solid phalanx, with their souls IN arms re9Jv
and eager for another fray. True, there have been
a few killed and wounded but only very few. for
like Barnaby' raven, they 'never say die" Hence,
when | admit and may as well do so at once that
they are often ''short, must not be supposed 10
mean shorness Of breath, which is generally consil
cred incompatible with longevity: but merely and
simply "short"-a scientific term for monet ,ry nm,
easiness and inconvenience. From this cause main
ly our bankers and moneyed men have cot the idea
that the dry goods trade generally is carried on
with too small capital, and that as consequence,
it Is unsafe and Improbable. There IS some truth,
but far more error in this opinion and " IL Try TO
prove it. Comparing the grocery with the dry
goods trade venture The assertion that there is
far larger business done the same amount of car
ital by the former than by the latter The regpon-
siblty in both branches is in equal proportion.
Besides, the prohts Dig goods are sufficiently
more than on groceries TO the additional isk
of more perishable stock Then there exists at no
time the spirit of speculation in the one to the same
extent a in the other. Yet It cannot he denied
but that the grocer transacts his business with
much more monetary than the dry goods
merchant
The reason is obvious The grocer sells his
goods on short credits, and insists upon punctual
payments, while the dry goods merchant. through 2
miserable policy Of timidity and over anxiety to
secure custom, almost invariably gives longer cred
lis than he gets The nominal selling terms Of 4le
| jobbers are SIX months. But no one scarcely es-
poets to be paid in that time. The country 1ner-
chant knows that if his grocer's bill is not met
| promptly he Will get more credit ut that shop
| or in any Other. And he knows equally well Shat
if he pays his dry goods dealer one-fourth. not TO
say the eXravagant ratio Of one-haIl Of lis ndebt
ness, the latter viii be but too glad to sell to him
again. lap bill upon bill, aud count himself rich
upon the unavailable and unreliable trash called
country bonds, that fill his pocket book to rep'etion
One certainly cannot blame the country dealer for
taking it ''easy'' under the circumstances. judi
ing from the swarm Of drummers that beset his path
from the moment he reaches town-eatino. drink
ing and ten-pinning him with Iavishness and dis
interesteiness perfectly refieshug-he has no pos
sible fear of not getting stocked with dry goods
from one or the other of these exceedingly liberal
gentlemen and it becomes a matter of supreme iu-
difference to him whether he pays up old scores or
rot. But this is not all that the obber has to CON
| tend with According to the amount of business he
does he is bound to carry over from season to sep
:
enough at all events to lock up good part of his
capital. 0fneg6ti bic paper he gets bat little. Ifbe
wants bank facilities upon his own name and can or
chooses not to give an endorser, he is bound TO
pledge his country bonds as collateral security aud
not to one but rather as one to TIRE or four
Need we wonder after this that the dry goods dealer
is sometimes "short,' and was ] not right in saw
ing that set of merchants that can stand all this
and more, well worthy of trust in point of re.
speciality and respor, bility? NJ that is needed
! to make that branch OF business as prosperous ard
independent the best among us, is for every man
engaged in it to refuse selling his property unless Oh
short credits and when sure ofprompt payment The
necessity for long credits out of town customers
has vanished with the establishment Of railroads
and telegraphs. The time was when due allowance
| had to be made for distance and slow conveyance.
! But that has gone by and forever There is no
| sound reason why a county merchants credit
should not now depend upon the strike of the clock
as well as the iowa dealers Make it so. Qn,e
convince him of the feet that his ava ton as rer-
chant depends upon bis punctda'ity, and YOU win
hear no more his eternal excu IS that the farmers
have not sold their crops, that they are waiting
Tor higher plices for grain, &c. &c. The farmer is
well able to pay his merchantin sx months at least
and If he knows that he must he will. 1t is the lit
tie wheel within the larger one that sets the me- chin
cry in motion. 1t is the retail dealer in town and
country that must commence this desirable reform
The dry goods trade of all Others is most interested
in the matter for just certainly short
make long friends just so surely do long accounts
make ''short" ones.
A DRY (IoonS