Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1883-02-02
SHALL CREDIT BE ABOLISHED.


not believe in the present order of things
They are inclined to think that if they had
the control of affairs vast Improvement
would be Immediately noticed. They would
the other, and so bring the world 10 toler-
able state of perfection. Their theories are
usually very elaborate and make an excel
lent showing in the air, but, like soap-bub-
bles, the minute they touch solid reality they
vanish in spray.
One of the most plausible theories of the re-
ructonists-plausiblc because it falls
within the proper sphere of reforms thai
of the abolition Of credit in mercantile al
fairs. They would have all business transact
ed upon a strictly cash basis, each purchaser
laying down an immediate equivalent for what
he gets; and what he cannot pay for, why,lct
him go without. This method, they say, would
obvia,e vast deal of embarrassment and
misunderstanding and injustice, both IN pub
lie and private Me. There should be no such
thing as the lending of money. man should
as soon think of asking another for pint OF
his hearts blood as for n loan of his fortune !;
for money is life At first sight, such state
ments as these seem to have GER
tain glamour OF truth about them. They
recommend themselves to the unthnk-
ipg faculty, that which deals with first i'm
pressions, and bears the same relation to
thought that sense does to perception. But
! when we come to subject the matter to The
scrutiny oi common sense, when we slft and
anayzc it, we find that its substance is mere
vapor-onIy a glamour of misty theory Iii
with beam of sentiment,
The system of credit is the foundation OF
national and individual prosperity. 1t has
at its very basis a noble principle, mora
principle-that of love of mankind. Elmer
son says that Just in proportion to the NOR
ality of people will be the expansion o
credit" 1t is a principle which pre-
walls only in civilization, and grow
with civilization. 1t provides for thu
exercise Of stewardship in property, tina
quality which We recognize in generosity
bcncyolcncc, and wise and liberal employ
mcnt OF fortune, The miser commits n sill
in boarding his treasure, because he is onl,
the steward of it, and it belongs to the world
What condition would the bulk of mankin'
be in, but for credit? If there were m
loaning of money, how would our nationa
debt be paid? The prompting of this nobl
impulse to help mankind finds its natural cx
preston in the impulse to lend, and throug
obedience to that impulse the worlds pros
pcrily is increased. Money, like corn an
wheat, grows by being planted, nc
( sellishly boarded. Credit is to none
, what soil and rain and sunshine are to grain
1t causes it to multiply and increase. What
l let us ask the rcconstructionist, is the in
, vestment of money but the lending OF it
There exists certain surplus of the mcdur
, of exchange over and above the immediat
1 need of the holder lie places this surplus i
4 another mans hands to use for him, and re
ccives in addition only the natural intreas
s of the sum invested, through the beneflcer
n and healthful system of credit,
s And there is another especial advantage i
c the universal system of credit, which OF II
self would be abundant cause for retanin
it-and that is the Indispensable aid which
u gives those who are starting in life on cap
a tai Of energy alone. Now energy is slmpl
o success in the rough it only needs time
4 carve it into fortune. But the graver's toC
i must have little gold in it, Give the entel
/ prising young man something to start will
C and he will build his own fortune. 'Whi
o have YOU got TO show for herr" asked pa
cnt of the young man who desired his daugi
Y ters hand in marriage. 81 am chock full {
a days work" was his reply; and it was
l. good one. That young man had his eye /
C the keyhole of Il storehousc full of gold a
he wanted was skeleton key to turn Il