The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1859-09-13

ueDtS. Ioo ilucH the WOiSe lOT uls I'puta
ton. Imagine n merchant putting his
hands into his pockets and with an indiffer.
ent air, walking into bank parlor to in
form the president that ho is perfectly
good, but he canno. pay his notes without
making some sacrifices, either by selling
property for less than he expects it to be
worth at future time; or paying two or
three per cent. a month, temporarily, for
money, and you will have in your minds
eye the picture Of an individual that wo'd
be promptly known through financial cir
cles as a dishonorable man and an unwor.
thy member Of society. This rule of mer-
camille life in the city may appear harsh
and exacting, but it is right nevertheless,
and more, it is necessary. Without such
such a rule, the whole credit system would
fall to pieces in week, and every city in
the country would be the scene of inde-
scrbable distress. Now, there should not
be one code Of morals for the city, and an
other for the country. What is right in
the former must be applicable to the lat.
ter. If promptness is necessary in one it
must be so in the other. The injury re-
sulting from want Of moral rectitude in
this respect, varies in proportion to tho un-
liquidated liabilities, but otherwise there
is no difference.
Let us take another example by way Of
n practical illustration of the question. A.
is a city merchant. He sells goods an
nually to the amount of 100000, en-
a credit of six or eight months. These are
distributed among one thousand country
merchants, who sell thom to consumers on
a credit of six months, or, as an "Indiana
Farmer" has it, to be paid at the "end Of
the year." Well. when the farmers cred
it expires, or the end of the year arrives,
he cannot pay conveniently. He has wheat
in his barn, corn in his cribs-a good sup
ply Of both-but prices rule low, and he
desires to hold for a better market. With
that excuse he meets and puts off the
country merchant. A similar excuse is Of
fercl by half or two thirds of the custom.
ers of the latter. With these apologies,
and what money he can collect, he pro.
ceeds to the city. There his notes for sew
eral thousand dollars are due. He pays
part, and the balanc, the city creditor is
compelled to hold over until "tho farmer
sells his wheat" So the story runs. But
the notes Of the city merchant, in the
mean time, fall due, and arc paid or tho
merchant breaks. If he asks an extension,
he is at once reported in every city in the
Union and falls into discredt. The indul-
gence, it is seen, stops with the city job
Der. He is required to face the music, ho
is forced to pass many weary hours and
sloepless night. as he tremblcs for his shak
Ing credit; he makes all the sacrifices, and
will, if an honorable man, sacrifice almost
anything, to save himself from protest, or
the huiniiatcn Of asking an extension; all
because "lhe farmer will not sell his wheat"
Consumers think, because they owe only
fifty or one hundred dollars, that it makes
little difference whether they pay prompt
ly or not. II the delinquents were not
numerous it would not make much differ.
cncc. The Ohio river is supplied with
water by a large number of tributary
streams, most Of which, in themselves,
are comparatively insignificant. One or
dozen Of these might be cut off without
producing any marked effect upon the main
body Of water, but let twenty five per cent.
Of the tributaries DO diverted, and the
commerce Of the river would langush and
die. So it is in merchandising. The
manufacturer stands at one end and the
consumer at the other. The merchants
are mere middle men, whose business it Is
to facilitate the exchange Of commodities.
Now let tho consumer cease 10 pay for
what he buys, and tho current Of trade
will be disturbed, by the failure, first Of
the merchant, and then Of the manufsc-
turer; and when these two classes suffer,
the man who cultivatcs the soil will not
escape, for it there is no work for the mo.
chanic or the business man, prices Of agri-
cultural products must decline. We see,
then, how much is dependent upon con-
sumcrs Of merchandise, whose debts range
from fifty TO one hundred dollars. These
are the tributaries thst supply and rcgu-
late the gre It stream of commerce. They
supply tho arteries Of trade, and their
healthy action is necessary 10 the life of
business. Having thus established tho
principle, the lesson can be stated in few
words. 1t is the plain duty of every man
who has debts due or o, erdue, TO make
payment if hc can. 1t is no excuse to say
that prices of produce arc too low; and
that if everybody would sell, valuables
would be further deprecated. Everybody
is not in debt, and there is, therefore, no
danger of a general rush upon tho market.
Besides, every man has duty to perform,
and his own couse must be determined by
a sense of personal obligations. If man
"es one hundred, two hundred, or five
hundred dollars, and by sacrificing reas.
enable per centago on the debt, he can
discharge the obligation and relieve his
it is his duty to make the sac
fee. Such course will pay in the end.
The effect that the example Of a man of
strict integrity and high moral principle,
exercises upon the community in which he
lives, cannot be measured by dollars and
cents. We would rather have ono such
character in neighborhood, as an cleva.
tor of society, than score of statute
books, filed with stringent enactments,
aud an army of officers to enforce them.-
No roformatory measure can equal, in its
influence upon society, the example Of tho
man who exhibits in his life keen sense
and n nromnt discbaroa of his ohlioations