The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1873-09-02
Zoo Much Credit.

Th, present condition and prospect OF
trade .Sv the f,I! forms tho subject Of a very
exhaustive twelyc.column circular just Is
sucd 20 their subscribers by the Mercantue
hrcn2v. Z. G. Damn 4 Co. 1t concludes
with the following timely remarks:
Prom the foregoing statements, hasca
upan careful local observations as 10 tue
condition and prospects oil trade, II Is onV-
oyi> ;ha, the outlook has improved III the
Iasi few months. The productive power OF
40 cnr,;ry. The success attending a@ricu-
tura! operations. and the generally healthy
tone oi manufacturing interests, all point 10
= steady growth in ourmatcrial resources.
w hilc il is not improbable thai mere mas
ncc;i !. great deal Of oycr-;radin", ana mat
;hSre are great many people IN business
that ouyht 10 DC out of it, there IS hardly any
dorSl that the internal commerce OF The
ca;,r.iy i in 4 healthy condition, and, taken
- 2 whole, the STATE ofa!iairS generally seems
safer than 1t did four months ago. The
snring ard summer trade has been duii IN
,los: quarters. but that IS not bad sign.
Stocks OF goods gei.cral'y are small, and the
con>,imption must create an active demand
throughout the balance Of the year. Not
wi:bstanding this generally favorable aspect,
it must not he forgotten that the lines OF
:
two. extending materially. and that the gross
amount Of internal liabilities to-day is much
larger than it was three or four years ago.
II i getting more and more evident that Ill
retailing goods 10 CONSUMERS merchants are
trusting TOO freely, and find 1t extremely
difficult to collect. The Mercantile Agency
records indicate a locking-up OF capital IN
outstanding debts to an extent that cannot
fail TO render collections difficult and sales
unsafe without judiciOuS care. AS RUE,
customers ought to pay as they 90: they are
rarely b, tier able TO pay Sin months hchce
than they are to-day, and the scattering
of assets in this direction is one of the
earliest and worst indications of crisis III
the tGtl!rc While we do not think that this
condition of things has grown to any dlSas-
trol!s extent, it il proper 10 direct attention
10 il. and. if possible. 10 lessen the tendency
in that direction. This is best done by keep
ing IN mind the deLt.pGWng porer OF Inc
parties who are buying goods. 1t matters
not how ample the surplus OF the parties
seeking credit may he il their liabilities are
diSrYoportionatcly large aud their assets III
an unavailable shape. Our experience proves
that Oh Standing accounts are among the
weakest of assets upon which 10 rely, ana
the safest account is that where the party
owes little and has a small amount outStand-
ing. Expenses iii business continue larGci;
to ay>,rb profits, which competition renders
almost ruinousIy small; hence there Is more
than the usual necessity inr great care III the
Distressing ol credits" This agency are now
Issuing their cXccllen! Reference Book four
times III each year, and anDounc" the Sep
t.u.Urr edition, with new names ana numc-
yOli> corrections up 10 Il late date, IN antIcl-
patton of the l;l trade. They also announce
Il rcv. series Of pocket editions of their book
for ;hC various States.