Wheeling daily intelligencer. [volume] (Wheeling, Va. [W. Va.]) 1852-1859, 1858-07-10


JurT SETTLEMENTS AMONG OUR MERCHANTS
The Credit Sgstem are happy to know.
that most of our business men have been able
to make their July settlements with their deb
tors, in very satisfactory and prompt manner.
The people here seem to have taken upon them
selves more than the usual precautions to dis
charge their obligations to the mercantile trade,
knowing as they did the tremendous annoyan-
ces and endorsements 10 which that trade has
been subjected within the past few months
We say we are happy to hear this report be-
cause it is good for our people generally, that
such is the case, and especially is it n benefit to
the trade 1t matter of the first Importance
nowadays, that the credit system should be
curtailed-greatly curta;ed. 1t is matter of
importance to the cousumer-first, because it
diminishes his actual OUTLAWS by drawing in his
temptation to spend his credit; and second, it
diminishes his OUTLAWS. because it enables him
TO buy what he finds it necessary TO buy, at
greatly reduced figures. While in this way
it is q matter of so great moment to the
consumers-it is of corresponding impor.
lance to the merchant himself In the very
nature of things, the merchant is compelled to
buy his goods, many Of them, upon cred
it. is impossible to carry the heavy, or
what We might call the iatrausita transactions
of the mercantile world without a credit This
credit has been and is still further being
duced to a system. Probably it has been more
simpliied, and more nurtailed within year
past, than ever before Manufacturers in Eu-
rope and this country were formerly in the
habit of selling ON long credits. Importers,
I'll,
tempting credits in their turn to the lesser mer
chants. And so the detriment and democrat
ization, for it is both, worked Its way from the
producer, through the factor, to the consumer.
Now, however, a reform has set in. The in
terim of payments has been shortened from the
fountain TO the outlet. We find upon consult
ing the trade tables and reading the money
articles in the foreign and domestic price cur
rents, that the tendency is tn cut down still
further the very material reductions which have
been made within few months AS we OBJ
served the other day in an article analogous to
the one in hand, there is great diminuhon
of confidence all over the world, brought about
by the steady yet long unseen or unregaTded
operation Of immoral and demoralizing causes.
This has and is now righting itself to that
degree which is possible without the interven-
ton of moral agencies. Men arc disposed to
cut down their ealea, il in 81 doing they can
cut down their exposures to the guiles and quick
sands Of the credit system.
This spread Of the wave from the centres of
the commercial systems, has reached, as we
said the ont-edge of the mercantile routine, viz:
the retail merchant, who finding himself ham
pered with negotiable notes to his creditors on
short credits, is obliged to turn about and adj
Just his basis of sales Some have found them
selves under the necessity of adopting, rigor-
ously, the cash system-others, OF more means,
have adopted mixed bases of cash and cred
its, ranging from thirty to ninety days.
This is as it ought to be- so far as it goes. We
hope and expect, yea, we feel assured that it
must go further There is no truth more firm
ly established in political economy, than that
credit as between the producer of any ar
tiOlo Of ,uurchandiSe and the consumer, should
be reduced to the very minimum of time: and
to this, we will add, that the nearer to cash all
transactions between n retailer and his custo-
mers are brought the more perfect is our guar
anty against every species of commercial re-
vulsion and consequent hard times. We are
glad as we said at the starting out, to know
that there is so general a tendency among retail
merchants to do away with what might be
called credit system. There is no doubt but
what even with diminished sales, it is source
of revenue TO them, while it is health itself to
the average of their customers,
Tur WoopNAN DIvoRcE CAsE.-At last ac-
counts, the application for divorce by Dr. Wood.
man was still occupying the attention of the
Mississippi court. The evidence is most voIu-
ininous, and fully establishes all that constituted
the rumors of the day when the crposo was
first made. The villany of Gardner Furniss APP
pears from the testimony to be only equalled by
the uublushing cfTrontery which he Displayed
in his entire connection with the unfortunate
woman. SIrs. Woodman, in her answer denies
MI criminal intimacy with Furniss and also
slleges that DR.. woodman is not citizen the
State in which the suit is brought, he having
resided in Louisiana since the year 1859. The
case is creating no little excitement in the
Crescent City.
THe NosTn AMERICAN RRyiEw, July 1885,
The No III 6r,aricoy, far ,Ls, ,,o.,k ......;..