The Magnolia gazette. [volume] (Magnolia, Miss.) 1872-current, 1890-08-09
The EVILS OF the o8EDlr SYSTEM.

time Of giving my views on thc
above subject and showing that
the credit system is far more or
presslyc and demoralzing than
all other evils combined. A lrge
number Of farmers begin their
crops every year by mortgages
and in It shout time the coming
crop is consumed, having bought
goods on q credit at IN enormous
p1ee. Without aiming to be
/ harsh or cxt,ayagant 1 say that
lcicdlt Is calculated to make peo.
plc dishonest, and has had that
tendency ever stuee the war II
causes man to lose confidence III
/ his fellow man II i ruinou4 to
the people aud the sooner i IS
stopped viii better for our coun-
tty The credit system is the
greatest Tariff by far that is now
expressing the people. 1t is the
great tariff Of the nineteenth Cen
tury, and he who tries 10 rcaI
family by buying goods Oh
credit 70 be paId for in cotton is
only pitching straws aga inst the
wind. Q chat the people would
open their eyes aud yieW the
great dangers Of the credit sys
TEN, # so in a few years i would
become thing of the past, and
/ would have been SO years ago.
People may talk Of advantages or
j disadvantages Of the Two great
3 pohtical parties of this country.
/. They may talk Of high tariff
) or low tariff, they may
/ talk Of the oppression Of
Trusts, combinations ana nngs,
3 revenue on tobacco, sugar, cof-
j fee and other ihings, but there Is
! only one thing that viii 10 tile
3 people any real good Or save
i Them from bankruptcy and rum,
y and that is to make our living at
i home and buy nothing unless we
. have the money TO pay for 1t.
n All reduction of expense,
g should begin at home, we need
Z not expect TO better our condition
e by buying goods on a credit tc
Il keep up with the fashions the
d times, for as long as we ralsc cot.
Il ton to pay for goods bought on D
!, credit 50 long will we be The
is slaves of monopolics and rings
Revenue collected by the govern
ment IS oppressive but 1T IS not tC
1t be compared with the mischief o
m the credit system of our time; fo
/: instance, buy a horse on credl
te for $500 or 10000, with tb'
IN money / could do the same tLin.
at for 5000 or $500.
'd a man starts acrop ouanother
ST place, the owner furnishes hp
IS $290,0 worth Of provisions whct
le The same could be bought 70
p $4,000 cash. Our home mel
chants make large diffeienc
between cash and credit bea in
4 the laborcr out of his ha.d-earr
" ed money. Let every thing be pa
: on a cash basis, give the lahore
Z full pay, n money, and in fei
= years we may have one of tb
v richest countries ii the world
: Some Of our people seem t
~ think il almost a disgrace not {
81 keep ur with the cruel fashions
~ they think they must buy good
- - on credit to make proper al
y pearance which is a great mi.
- take, If the people vii stop cree
- e IT, safe their means, pay cash 70
Z - what they get, VIC would soon fe'
= like a free people. There is moth
~ ing that pertains to this life tha
makes a good man feel bette
ft- tLan to be out OF debt, then let
r. be the prime object of every ont
NJ if not out Of debt to get out an
ay stav out, If such time shoul
TAT come we would have one Of til
'es best countries ever peopled b
OF man. b, I.
2 (The above is written by on
who farmed for over a half Ger
lo tury and special friend and wei
oJ wisher TO farming interests every
~ where.