The Emporia weekly news. [volume] (Emporia, Kan.) 1881-1889, 1886-12-23
Ply A9 YOU co

Town IN. - Times, thinking that some
of the very pertinent suggestions might
be of interest to many of our readers, es-
pecially our business men:
A long established business man Of this
city who feels an interest in the subject Of
cash payments by purchasers, upon which
an editorial appeared in these columns q
few days ago, headed ''Smash the Credit
System" furnishes his observations upon
the miechievous effects of that system IN
the ordinary business affairs of life, with
an appeal for reform In the matter, ell
OF which the Times sincerely believes in
and heartily adopts.
This gentleman says, and no doubt most
truly, that what we most lack is courage,
decision, acting up 10 our convictions.
We fear TO launch out; we need more
faith. If We would only stop to q little
and consider all the troubles that grow
out OF the credit system, this everlasting
charging, we should be astonished. The
simple statement that we often sec made
and never contradicted, that ninety five
per cent of our merchants fail, is enough
to satisfy Us that something Is radically
wrong in this buying and selling
on credit. The young merchant
will borrow capital TO be-
gin business; he trusts out his goods to
Tom, Dick and Harry; Tom, Dick and
Harry fail TO come around in season; the
merchant fails TO meet his engagements
and down he G res. 1t is all wrogn. The
cash system is the true one.
II man has not capital enough 10 be-
gin business, let him wait. 1t is equally
necessary that If he buys for cash he
should sell tor cash. II must be cash
both ways. What an endless amount OF
anxiety and trouble might be saved If this
thing could only be brought about. And
as said before, 1t only needs decision In
the merchant, decision in the patron. Let
the merchant buy only what he can pay for
and the patron coHflne his daily supplies
TO what he can meet with cash in hand.
People who are we'll of, little realize the
condition of the merchant. They will
request an article charged when il could
be paid for as we'll as not. Let us see
how il works,
A customer enters a store and makes a
purchase. When the article Is done up
ready for delivery the word comes.
''chaTge it." Very we'll. The merchant
is ready 10 do so because that is his Gus
tom sDd he has faith in toe ability of his
customer 10 pay-sometime; yes, some
time. Bat instead of being at liberty at
once to wait on another customer, the
article purchased must be entered. That
entry must be transferred TO the day book,
aud from that, in due time, copied on the
ledger. After few months nave elapsed
"a long enough time, as the merchant
thinks, to avoid offending his customer
in order to meet his note at the bank, the
account is drawn off and with dIff1dence
presented to his customer. Possibly the
account is paid. but quite as often the
merchant or collector, If not met with q
frown, Is semi-pOlitely told that he will
look the accounts over. The merchant
turns upon his heel with feeling of sad
ness. 1t is perhaps no more than he eX-
pected, from past experience, but II Is not
what he deserved. He must meet his
note at the bank at all hazards, and so,
with what lille he can collect, with the
good will of the cashier, he makes par
and 80 it goes on
Now bear in mind that something elee
enters into the accounts besides what has
been related. In order to carry on the
credit business other elements than these
enter in. The merchant is put to the ex-
ira expense of having bookkeeper, often
the most expensive clerk in his employ,
adding from $500 TO 81 600 to his expenses.
Moreover, mistakes are apt TO creep In, In
transferring charges from one book TO an
other. Omissions are often made. goods
purchased having failed to be entered.
Still further, the merchant Is all the while
paying interest, while his customer would
complain bitterly, and perhaps leave him,
If he should be charged with interest.
Perhaps articles charged in account have
been forgotten by the purchaser; the &C
count must be wrong; he will investigate,
and he does investigate; but IL is not the
merchants account, but some law papers
or business transactions or novel, and
when the collector again calls, "Well, re-
ally, forgot about that account, will
look over IL at once" And about three
months after the account Is due, accord
ing to ordinary ussges, the payment may
be forthcoming.
Is il any wonder that the merchant car
ries an anxious look? That his sleep is
disturbed? That he fails? It is only in
accordance with an inevitable law. The
whole thing is wrong. Let the merchant
pay for his goods. Let the purchaser, be
he rich or poor, pay for what he buys. He
will then buy only what he needs, and
pay less for II. He can select his own
place for supplies, purchasing one article
in this place and another in that, wherever
he can buy to the best advantage. BE
will then have no debts hanging over him
no duns TO be feared. lie is happier
man; his family are happier; their wants
less, and there is more ability to meet those
which are actual. The merchants exc
penses are reduced he can afford to sell at
a lower price.
The pay as-you go plan applies equally
TO all classes and all kinds of business; 70
the mechanic, the manufacturer, the pro.
fessional man, the day laborer Let pay
m mt be made when the work ia done or
the goods delivered.
a new year is approaching. Why not
enter upon it with the determination to
turn over a new leAf-a leaf that shall
have no charges on it? Help the merchant,
help the mechanic, help the doctor, help
everybody by keeping out Of debt, and
those who are trying to bring
about this reform. Do a cash business.