The daily dispatch. [volume] (Richmond [Va.]) 1850-1884, 1875-08-04
commercial Integrity.

IN no branch Of the pursuits of commerce
Is therea greater necessity for strict in'esF''
tv than IN that OF the transactions OF agents
on commission Cor other people. NO man
can no trusted as agent TO dispose OIL lne
nroducc of another while he isa Spccu'a'oi III
that produce. The temptation to "roos Ills
principal BY dsposing of bis sooos IN nia'-
nor most advantageous to tho agents sen are
great. and if not overcome ut once VIII pre-
roi, IN co,,r,e Of time. SO, as We nave Deen
saving. no financial agent who Is speeuiallns
IN stock. and money ought to be trusted. AS
euro a. h. cmbarks in the speculation VIII
no he subject to cXcitements ana temp
,a.;ops He will use his correspondents
money to-day to Get through shoal water,
and using it oacc is the beginning 10 con-
,in,,al use Of il until some fine morning he Is
horror.stricken to find that he is forced to
Sis spend, and he has not the means to in.
demnifv men who had contided 10 him with
implicit bclef that he was honest aud could
not be faithless.
No such man can feel 10 be himself less
than wretch, if he has any heart at all. he
has grossly abused the trus: reposcd III him.
He has :qIandcrcd the money of men who
we're too prudent to hazard il. He mas used
other peoples N ,ney in the hope OF gain
he to take all gains, whilst the owner OF the
money incurred all the hazard.
y, not all men in business know that me
bankers Of large cities have for years oeen
steadily practcing this aboiaIna1c MODE Oh
husincss-one that is constantly increasing
the perlls of speculation and increasing the
wrongs done 10 absent and confIdlng people
We have used the case Of DUNCAN. SHERMAN
G. Co. to illustrate this point. AND we hhu
| that this case continues to add emphasis 10
tb. condemnation Of tie vicious system.
We see announced Il 1umbcr CT names VI
Sufferers who had deposited sums OF money
with the firm. Most of them we're men VINO
could 10, a.f,rd 10 lose the sums entrusted
/ 70 IN. IIithc>s house. Among them was
1Iour ..0rGu.M, tic actor, q whom WeknoW
something. The sum was enough TO nave
b zen . large part i! moi all he had. And who
will say that such dcplsr:orS should by Gus
tom have been led 20 trust their money IN an
establishment where it fell into currents OF
soecnlatioa-a speculation they had no part
| in had no claim to the gains; ard 1t wa,
barbarous wroug TO involve them IN the
| rcrils of: We repeat, VINO VIII say thaI
i cl.ton should have led any MN to deposit
his money in such house: Two Days 1So
| Mr.. plScAx said thit there was deiay ana
! per,lcxity in making q statement Q. the al
! fairs of the house, because letters Win re-
mitfauccs were constantly arriving. HOW
| should such house have such remlttances
Wh.,cvrr the bankers and brokers may
DO nov, forty years ago there WAS scpars-
tj0n between the business o. buying aud SELL
ing exchange aud collecting drafts, bank
notes. Sc, and speculation. There were
yalLkuown houses then which ran no risks
of losing their Correspondents money by
gambling, as we may call most OF the specu-
l.ting of this day.
Honest commerce that kind Of honest in
tercolrsc which fosters confidence and main
which promotes legitimate business and di-
mnishes the dangers Of disaster and panic,
aud widespread ruin-demaDds the scp'rl.
ton of the business Of commission merchant
from that of Specializing. TIE combination
inevitably leads 10 Discrimination. corruption,
and fa,th!eSsnesS. The moment man pro.
fessiny to be Il proper agent for other peo-
pie enters the market as Spectator
or dealer in the kind Of produce for which
he is agent, he cannot be trusted. The mo-
ment chance occurs by which he can gain
an advantage in trade by some neglect Of or
dircc, wrong to the interest OF his principal,
that principal who is absent has feeble pro-
| lection in that conscience Of tue agent which
has permitted him 10 stand il two relations,
the one entirely incompatible with the other.
Commercial society should vindcate its
own morality by putting an end, if possible,
| to this system.