Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1862-03-05
Brant GQn0tp Ieyald,
. -
Merchants Leaving for New York No CreditBankiHs-
home Revenues Doughhcing.

for New York, Philadelphia and Boston,
where they are to select and pay for their.l
Spring supplies Of Merchandise They
are to pay in full, for round period has
been put to this business Of crediting coun-
tsy merchants and charging ten to twenty /
per cent. higher for stock 50 sold to them
on credit, the same TO be gotailed to con-.
sumers on credit. So also a period has
has been added to retail credits. AS the
country merchant buys ten to twenty per
cent. cheaper for cash, be can afford to sell
to his customers SO much cheaper; and be
is bound to sell exclusively for cash and
therefore record no bad debts, lie can sure
" afford to sell proportionally cheap, thus
providing for The benefit Of buyers at re-
tail at least thirty per cent. clear gain, or
almost clear profit equal to third better
price for farm produce than is made when
credit prices rule the market
AS affairs have stood, every merchant
has been sort Of banker for loaning bis
merchandise capital to people, and tbepeo-
pie are thereby led into a still more petty
banking business by crediting each other
So long as merchants and people practice
banking, or issuing notes TO each other,
promising to pay and never paying accord
Ing. to promise, there viii be State bank
ing and suspensions and regulations Of
debts. The people have issued vastly more
promises to pay than the banks, and Of
any difference the people issue poorer and
meaner promises to pay than the banks.
We are nation of small bankers and are
taxed for this folly over two hundred mil
lions Of dollars, so says the Merchants
Register. So we could support war to
I'll eternity for what is paid for banking in
the shape Of interest, delays, losses, bad
debts, dc. BY crediting or loaning rner-
.chandise to the South, New York lost
$200,000,000 on the breaking out Of the
rebellion, and all other crediting shops lost
IS much more. Il is all folly 70 cry "down
with the banksl" SO long as almost every
man is 3 banker, either by issuing promis-
es to pay, or taking such promlssory notes
in payment for money loaned or goods
sold. All are bankers, and the practise is,
d take the hindmost," in not paying
anything.
But we started on another subject, and
have taken too much latitude. The mer-
chants are about to leave for the east to
purchase new stocks, taking from Grant
county at least $4,000, mostly in coin
or its equivalent. Probably not less than
$4oe. 600 leaves the county each year for
merchandise, or abaut $14.o0 per head for
each person, great and small. Tho aggre-
gate income for farm produce, mineral, &c.,
must be at least three times as much
Probably not to exceed 100000 leaves
the county each year, except for merchan
disc, SO that one-half the entire income, or
100000, remains as net increase Of
wealth. Henceforth this net home revenue
must be cut dovn by an army tax, but this
slice viii be more than made up by the in
come receivable from the earnings Of sol
diers.
There, re are taking too much land
again. Tbs merchants are about leaving,
&C. Well, lot them 60 in hurry public
curiosity and feminine taste are excited
about the new patterns and styles last is
sued from the Queen throne Of Eugene.
is It possible that for once American fash
jon shall lead the queen Of fashion Then
no for dress and bonnet wares bespangled
with stars apd stripes, and wo TO the mer-
chant who fails to regard military styles in
selecting his stock Bullet coffee and gun
powder teas, striped and starred caicoes,
red, white and blrs silks and ribbons, sol
der hats and cars for boys, and for the
littlo misses fans with terrible battle scenes
These hints are for the benefit of fashion
merchants who keep one or two fancy
clerks.
In the fall Of 1861 cur merchants were
:all patriotic; their visit to buy goods to
the great American Byzantium came noal
rebelIising them; but for Sumter they
might scarcely yet have recovered from.
their fright. The great wholesale dealers
Of New York had such heavy cotton inter
.ests On hand. two hundred millions, that
they could think Or talk of nothing elss
but the dear South. oh, how tendel
their appeals to northern merchants to Sc
home and hold union meetings, under tbs
mistaken idea hat this rebellion might b
avoided and NV Workers save their hun
dseds Of millions! Poor, debased, de.
cei,ed. don0hfaced New York The reb