Frostburg mining journal. [volume] (Frostburg, Md.) 1871-1913, 1872-09-28

10 tie iI"iSIIttHt anu IdU'Itr there
is magic in the word It is the oyen
sesame to successful trade and The me
dunn to general gompetencc Ii de
mands no obliga1ions nor Yields any.
1t inspires independence and offers no
occasion for want Of confidence. 1t
defers no settlement and furnishes no
opportunity for arbitration or litiea-
ton. 1t keeps but one account end
that is with itself; the drawer and the
purse always attest the balance in ia
vor of cash.
So manifold are the advantages CON
ferred by system which involves cash
in all business transactions they DEFY
entire enumeration. Enough to saw.
It's results are good, whether consider
ed morally, socially, or financially
In the latter aspoct-the one peculiar
to ltselt--lt Is eminently suggestive Of
benefit, first to the laborer, then to the
tradesman.
Instance the miner. In TOO many
cases his pay is dealt out before he
obtains it; then his money goes for
something already consumed no sur
plus remains for future wants. His
subsistence and that Of his family for
the ensuing month rests upon the dis
erection Of his merchant. Should illness
or accident bcfal him, his misfortune
Is doubled as the product Of labor vet
to be performed is entailed to meet
present necessities. Briefly his life is
one Of continual labor, upon which
restsa perpetual prospective mortgage.
Then the merchant has his troubles
in this matter. The failure of custom
ers to pay promptly impairs his ability
TO meet his engagements. The evil
thus insignificant, seemingly, expands
and circles until it reaches and enyel-
ops many interests, spreading confu-
sion and embarrassment wherever it
goes, The recent great failures in
Baltimore, though ascribed to causes
for which credit is not solely response
bic, are due mainly to the expansion
OF that system. For these unhappy
suspensions the retailer is reproached
he in turn lays the blame at the door
OF the consumer, who, with utter sim
plicity marvels how his neglect could
have contributed to a result 50 extern
eively unfortunate.
The laborer, then, who pays as he
goes, is never responsible for the fail
ure of others. Nor can he fail himself
slnce he possesses the element of char
acter which is proof against pccuni ~
distress. lie is at once exempt from
Obligations and independent as to the
disposal Of his custom. lie alone has
the Judgment and ability TO buy where
goods are sold cheapest. His right to
decide in this matter amounts to actual
sovereignty. His goods are as mae
cessible to levies as his money is to at
tachments. He stands on high want
age ground, with power to enforce the
prerogatives Of g loity Independence.
With the merchant the order of the
present system is reversed. Instead
OF the anomalous idea conveyed in in
structlons to salesmen-"sell as few
goods as possible they would throw
ont the most effective and available
inducements to dispose of the greatest
amount 10 the greatest number. From
dlctators of custom they would become
its solicitors. The competition. engen-
dered, promoted and established, would
diminish prices from the credit maxi
mum to the cash minimum. His rela
tons with those from whom he buys
would be as pleasantly accelerated to
mutual profit as the new condition had
imposed between his patrons and him
self.
We have but SKINNED the surface
Of this great subject. To do more than
allude to the subject in 4 general way
would not more exhaust our space than
our acquaintance with it. But of one
thing we are sure-that the establish
'nent Of the cash system is not only
feasible, but necessity. Commercial
exiSencies daily point to it as the rem
edy for disorders in tinaecial society.
The ethics Of credit are complete and
i! s:,arrect enough probably, SO much so
as to have been a blessing to thous-
ands OF chose only who have not stretch
Cd and broken their arbitrary proyis-
ions. The necessities of the times
point to an era not remote when these
advantages will be placed far above
abuse and infraction-when CONNER