Savannah morning news. [volume] (Savannah) 1868-1887, 1884-01-06

The failures that have taken place
among farmers and merchants during the
past year would not have been 90 general
had it not been for the loose and unbusi-
ness-like methods which are SO prevalent.
Ever since the war there has been mania
for engaging in large transactions, and
the idea Of acquiring sudden wealth has
Become so firmly fixed in the minds of the
people that its eradication is matter OF
extreme difficulty. The phenomenal sue
cess OF a comparatively small number
seems to have set the rest on fire, and
they rush into all kinds of enterprises
and speculations without a proper
knowledge of the unyIelding laws oftrade,
and without being able to see far enough
into the future to avert the disasters that
even the ordinary yicissitudes ofthe times
render inevitable.
No business can have a reasonable pro-
liability of success unless it is founded
on adequate capital and is conducted with
prudence. a man who would he certain
to succeed in an enterprise which cores
ponds in extent with his means, only in
Yites disaster when he initiates his bust
ness by use of the fictitious capital which
an unwises credit system renders only
temporarily available. There are in
stances of the success of men who have
begun business without substantial cash
foundations, but they are few in number,
and should only serve to call attention to
the risks involved in such cases, and to
warn the many from hszarding their all
on such uncertain chances.
The man who goes in debt without
having a reasonable certainty of being
able to meet his payments when due, does
q wrong not only to his creditor, but to
himself, his family, and to the commu-
nifty. There is degree of uncertainty in
all human transactions, and it is alto
gether too common for men to become
oversanguine, and involve themselves in
debt in the hope of making lucky hits and
in anticipation of fortunate contingencies
which are of rare occurrence.
Credit is almost always dearly bought,
even where the sec Irity is ample. Inter
est is a consuming fire that burns day
and night, and the percentage is always
increased IN proportion to the risks the
creditor takes, and in this those who will
pay are expected to cover the losses oc-
casiOned by those who do not.
A farmer enlarges his operations beyond
his means. Land, stock and supplies are
bought on a credit; money is borrowed to
pay current expenses, and perhaps be
may do we'll for a year or two. This
tempts him to greater risks. In such
cases it is only question of time when
the seasons will be unfayOrable. crops
short, and everything he has will be
forced on the market when there is
little or no demand, and be is ruined. The
same is true in regard to the merchant.
He buys largely on a credit or with bor-
rowed money. He is anxious to sell, and
is tempted to take great risks by the high
prices Obtainable. Crops are short, his
collections fail, and bridging over his
troubles from year to year only postpones
and intensifes his distress
misfortune, like creditor severe,
rises in demand for her delay"-noth m
can be more true. borrowing dulls the
edge of husbandry," and buying on a
credit is the most extravagant kind of
borrowing. There is but one absolutely
safe rule to insure successful every one
pay as he goes, and he will be not only
sure to live within his income, but it will
not be long before basis for permanent
prosperity will be laid that will prove a
blessing through life.