Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1873-03-24
CREDIT SYSTEM.

One of the greatest curses which has
hung over the farming community is the |
fact that the ownership of land gave
them credit. and thereby tradesmen were
induced to persuade them to go in debt.
1t is said that one of the principal OBJ
jects aimed at by the Patrons of Hus-
bandry is to abolish this custom of buy
ing on credit. We know nothing at all
of the organization, but we do know
that if it succeeds in accomplishing the
end above stated, that its projectors will
have entitled themselves to eternal graf
itude. This system Of giving and re-
ceiving credits is the bane of prosperity.
1t causes men to buy hundreds of things
they do not need, or rather which they
could easily do without, and engenders
a general extravaganza which ends in
failure, in want of confidence between
man and man, and looseness of morals.
At the same time, there are numerous
instances where it has been of great ben
eft to men struggling for fortune, and
has enabled many deserving men to be-
come owners of farms; yet measure its
good against the evil which has been
done, and we find that the latter has
far the greater proportion. No man can
tell what day may bring forth, and
when the farmer or planter buys goods
on credit with expectation of paying for
the same from the proceeds of a crop not
made, often not planted, then he is real
ly gambling, for gambling is nothing
but betting on chances, and what does
the farmer do but lay himself liable for
a sum of money which he is to pay in
certain time on the chance of his crop
being good. In fact it is worse than
betting. We might say it is on the
principle of the thimble-rigger: "heads
l win; tails you. lose = for good pay,
and with large interest.
No policy ever adopted by any set of
men could more certainly make or keep
them poor than this we have indicated
which is almost universal at the South,
and is becoming prevalent at the West.
There is not single article to be used
on the farm or about the household
person can afford to buy on credit If
machinery, unforeseen accidents may re1l-
der it useless; if fertilizers, seasons
may not suit them, and they render no
return for their investment. But when
the money has been paid and the mind
clear from the harrassing expectancy,
from the anxiety whence must come the
means for paying the debt, then, even il
no adequate profit is made, there is al
least no anxiety for the future. The
heaviest burden farmer ever carried is
a note of hand, with interest from date.
We advise every young man starting
,, out in life to avoid it as he would 6
, rattlesnake in August, and in this Spring
time of the year, when the temptation i:
great for all our farmers to buy wha1
they are not actually obliged to have
because crop prospects are fine ard Their,
is every probability that money will b.
made, we would earnestly enforce upo1
them the danger Of contracting debts
What you cannot pay for, do without
We admit that there have been man,
fortunes made by persons who bough
land or material on credit; but Their
E has been far more misery generated, an,
q ten times as many failures caused
. Hundreds of lives have been foreve
crushed out Of energy and usefulness b
. this baleful cloud. which, in momen
e of infatuated hope, they were induced t
: place over themselves. The great Dick
n ems never put forth truer or NOR
. worthy axiom than that be places in tn
mouth of the versatile Micawber: IN
y boy, income EGO, expenditure 9l9 los
It happiness; income EGO, expenditur
EGO. 0s. I'D misery