The Charleston daily news. [volume] (Charleston, S.C.) 1865-1873, 1867-10-09

reward of their diligence. Others may say
that they mldc greater efforts before The
war to secure the trade of outlying sections
thangshey do now, yet in those days always
did good business. Now this plea would
be valid, if during the, past seven years the
world outside had stood still, or moved only at
,bo sns;rs pace. which circumstances forced
,non our unfortunate Southern country 80
far from this being the case, however, we find
mon looking abroad, that commerce has moved
IN in accelerated strides; lines Of transporta-
ton have multiplied in every direction ana
,urn where we will, we find competition meet
;,r us on scale immeasurably greater than
,vos the case before the war, and unless these
efforts are met by corresponding expenditure
&c force and effort we must reconcile our
so,ves TO see Charleston reduced from its form
or rank as q great emporium to n mer' en-
trsDot-a sort Of wayside station.
We must be up and doing. 1t will not DO 10
log along at our present pace hach 0' US
mvst mt forth his own best cndeavor, ana III
addition, we must seek to remove ana counter
oct untoward influences by aching IN concert.
| Tbore should be no dead lock in the whee's o'
trade because of exorbitant railroad or sleam-
hoat charges, or for want of harmonious CO. %
onsrotion between connecting lines oil ra''-
,oads Our merchants should make every ei-
fort nossible to remove such obstacles Tor gu
this is possible And there is the more reason
for doing all that can be DONE inasm'c'l as
,hsre win still remain q great deal that para
,vzes our trade, which is entirely beyond OIL
influence.
Another topic we would refer to, though We
annroaoh il with the hesitation corresponding
TO its delicacy. 1t is the nefarous prac''ce o
doino business almost exclusively OH credi
basis We can all sec the impolicy OF credit
ine the freedman laboring on the plantations
WHY g? Because he is improyident' anu h"'
not a proper sense of the obligation he IN
cnrs lie spends his money before he makes
Il md what is ime in his case, ls true IL
nearly every sphere of society fe0pie "'
not like to pay hard cash when thcy arc III
Ito receive an equivalent 1t IS vain 10 sa'
tbat the value was received. That Is 4ui'
another matter. If you have the haoan sh'
the corn, especially if you have already con
sumed them, why work hard in order TO pa!
for them? Doubt like this indicates bad NOR
als. but it certainly belongs 10 human nature
Il When man can buy on credit, it matter
little whether he is O. laborer, an aFtisah'
farmer or a merchant, the tendency is he VII
allow himself to bs persuaded to purchas
more than he would do, if he had tho. none.
in his pocket to pay for them. He buys be
vond his needs, and not unfreeuently ,beyon'
his ability to pay for what he buys. In
credit system is entirely at varianc
therefore with the first principles
economy. OF course there are exceptions
this rule, there are men who have sufdcien
character and prudence, not to be temple
either into dishonesty or extravaganza; but
they extend the same indulgence of credit
their customers, which they receive from thel
: own creditors, they are exposed to the ris
of loss, which may at any time sweep ava
large sums of imaginary wealth,
As long as mans wealth consists IN larg
amounts due him for store accounts, be the
few or many, from planters or from merchant:
he cannot be said to be opulent, for in me
ment his riches may take wings unto then
selves and fly away. Look at the several CON
mercial panics and crises, through which tn
country has passed, during the last thirty years
Thousands and tens of thousands Of house
were dragged down by the vast net work
credit, which caught in. its meshes the millior
aire of the metropolis no less than the sma
shop keeper at the cross roads. With bus
ness upon a cash basis, this need not he, an
would moi he The case.
We were in hopes at the close Of the va
that hereafter there would he radical reforl
| in this respect. Merchants had good oppol
, tunity to enforce the cash systera; purchaser
| would soon have become accustomed TO it, an
thought it no hardship. II is much to be RI
, eretted that this laudable purpose was M
: adhered to. Much Of our present commerci'
and financial difficulty, in our estimation, 10