Bellows Falls times. [volume] (Bellows Falls, Vt.) 1856-1965, 1870-04-15
The Credit or No Paw s,stem.

peeH 80 many advertisements inserted l.
our paper by creditors addressed to the
debtors to pay up" as during the Lac
three months. Nor have these advertise
ments been confined to this place. Al,
unusual number have appeared from ad
joining and neighboring towns. Some
these accounts thus advertised, as we ar,
informed by the advertising parties have
been promptlyattended toon such call but
we presumed large portion still remain un-
settled. That an unusually large number
OF accounts stood unsettled on the first O.
January or April, was owing to some ex.
tent, doubtless, to the stringency of the
money market during that time, but the
most Of it we apprehend, is owing to that
faulty credit system, which so often sinks
both creditors and debtors together.
Some years ago, our business men near
ly all made an agreement to sell no more
on credit, but it amounted to nothing.
Very soon one yielded and another till
their placards hung in their places of
business, as the merest force and bur
lesque. We understand that some of our
business men have decided this spring,
Cor as soon as they fill their stores with
new goods, to attempt the no-credit or
ready.pay plan, regardless of Others or
consequences to themselves, being bound
not to lose even if they can make moth.
ing, as goods on hand will be worth more
unsold, than if sold and unpaid for. Nor
are the evils of credit confined to men
who are poor or Of moderate means
Some denominated monied men" allow,
or more properly speaking, insist upon
having their bills run SO long that all
profit on goods thus sold is swallowed up
in the use of the sellers money, long be-
fore he gets it to make his returns to the
wholesale dealers. The merchant must
therefore hire money to pay his bills,
thus losing at both ENDS of the line In
the line of dry goods, groceries, provis-
ions, meats, &c, every one ought to make
it an invariable rule to pay as he goes,
or certainly promptly within a month.
By this means he will get his goods
cheaper and be more independent in
making his purchases. The seller will
be more yielding, for he is sure of
small profit, and what profteth it if he
selleth at large profit and receive not
a cent Of either cost or profit ? Now then
cannot all, on both sides of the sale, |
come together on mutual system of |
pay today, and not ask to be trusted at
all. Short credits and prompt settle
ments would do, but experience has long
since proved the utter unfaithfulness ev-
en- Of this plan. Never more ask credit |
for small purchases. Make it on large
bills if you must and can. A few small I
bills will make more trouble for both /
debtor and creditor than large bill, |
though amounting to many times all the
small ones.
If you want TO feel the pulse of the
credit system, just go into our places of
trade at settling time" or say the first
of January or April, just after the deal
ers have been looking over their books.
You will find it sure indicator of where
all the profits have gone, and too many
feel that they have spent whole year
in trade for far less than common day
wages.
In view of these facts, long known to
everybody, will not all classes unite in
system of trade which is
even better for the debtor than the cred
itor, or rather buyer and seller, for with
no credit there will be neither creditor or
debtor. We don't mean " meeting "
and committee" to organize, bu. that
all should begin now to practice. We
know of no other thing at this time more
likely to inculcate feelings that the mil
lenium is at hand, than the adoption in
all business circles of the no credit or
ready pay system.