National Republican. (Washington City (D.C.)) 1872-1888, 1875-10-12

finance circulation may be Impeded by lack
ofconfdenoe In the quality of the medium.
If we would accelerate the circulation In
the animal system, we attempt to improve
the quality Of the blood and if we would
improve the circulation of our currency We
must strive to improve the quaity oil tne
medium, so that it will command the lull
confidence of the people.
We are impelled TO pay out money or IN
vest money in the same degree that we
possess confidence that we shall be able o
obtsin more for future necessities. There
is nothing so effective in the production
and maintenance of this confidence as the
promptitude of frequent payments Of the
wages of labor To insure active and
healthy circulation of currency labor wages
should be paid every week. Such system
would keepthe volume of currency required
for that purpose constantly permeating the
channels of trade. When they are paid
but once a month these channels are af
flicted with financial drouth about three
weeks in every four. The circulation is
thus stagnated, and many craft isstranded
upon the shoals of credit.
The example of promptitude should be
set by the Government. 1t would then
surely be followed by the large CONNER
cial and manufacturing corporations, which
are about the only industrial employers
who do not pursue the plan of weekly
payments. The Hgriculturist may not pay
the wages of his labor weekly as a rule; but
the greater portion of the cost of his labor
being the provisions for the subsistence Of
his hands, which he usually furnishes as
needed, makes this of less consequence.
What he retains until the crop is made, is
simply the surplus or yearly profit of the
lahOTer over his cost of subsistence. FIRE.
Quent payments Of the wages of labor,
made with promptitude, incile to more ac-
tive industry and greater fidelity on the
part of the labOrer. He feels that his
merits are appreciated because they are
frequently rewarded, and he is impelled to
fidelity by desire to continue in the en-
ployment of a good paymasteT. In ad-
dition, this system gives the labOrer the
full control of his earnings, so that if he
chooses he may, by economy of living,
soon have something ahead with which to
take advantage Of opportunities to lay in
family supplies of provisions, fuel, clothing,
ETC., at the lowest cash rates. He is not
obliged to live on credit. BY economizing
! so as to have one weeks wages ahead, he
ma. snap his fingers at the account books
vi HIS l"' nsman, and thereby take his pick
ana cholce Oh .he market for cash. With
only monthly payments, most of the en-
ploYees of this country Fsel that they are
obliged 10 run accounts with the grocer.
butcher and baker, and at the end of the
month, when these accounts are paid, and
the rent given to the landlord, there is but
little left TO- hsts, shoes, clothing and fuel.
The whole month is spent in continuous
watch against extravaganza in the consump-
ton of necessaries and the indulgence in
luxuries, in order that there may be some
thing over toward guarding against the in
clemency of approaching winter
Government should know that family
credits are even more expensive than the
interest account of its skies and five
twenties" and new fives" Where it pays
five per cent. per annum in coin, the family
pays about ten per cent. a month in cur
rency for credit. And why? Because the
merchant who gets his pay but twelve
times year must have larger per cent
age of profit than if he received his pay
weekly, and by this means were enabled to
turn his capital fifty-two times in the year.
Cash sales fifty-two times year at five per
cent. net profit are better than monthly
credit sales twelve times a year at net
profit of twenty-five per cent; for while
the former aggregate only two hundred I'D
sixty ner cent nor annnm oDd the latter
three hundred, there is nothing from the
former to be charged to profit and loss for bad
debts, whereas the latter system is sure to
leave such legacies TO far more than the
forty per cent. difference, to say nothing
Of the trouble and expense of keeping the
books and chasing after the money.
1t is to be hoped that Government may
consider this feature of the great
financial problem, and introduce weekly
payments everywhere in the civil service.
The effect upon currency by increasing the
Of the requisite volume would be
felt Monthly rains will not
make good hay crop or keep rivers at a
good nAvigable stage, neither will monthly
induce that economy and thrift
among the people necessary TO the pros.
per1ty of the country.