Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1893-04-28
SYSTEM OF CREDIT.
Is it Being Abused in Utah so as
10 BRING Disaster?
CAUSES OF FINANCIAL FAILURE
p.siucss Man'. Talk.--Suit for q
Mlne.--ilomcstcad Entries'-ain'
ing and other News.

heard on MI riueh' "H"
thought the opening OF spring "ou''
drive away the dizziness OF "in'ot III
financial circles, such mas NOT "eo"
the case as yet. whether 'noro u
prospect for an Improvement III '"'
Immediate future 10 intefe5Ilng' 10 e"9
the least, a. n matter for cehslueiH''O"'
"Buslnoss IL generally IN very un-
s.t,ssaetory condition. said promi-
-, ,,,,.,,.nt of this city today, In
hen' ''e'o" -, ,.g,,ding tho
response 10 hn inp"'J
present financial eitua!ioh anu ou'
look. 0rhe comparison Of bank clear.
-. ,,.t,t. ihos. az lat year indicates
'"s' W." -, =, .WJ.. M,
ABOUT thS aeluAi "'us' " "ii''' ,,
banks were all in the ,Achengo lab'
yeag and are this year, and the falling
"a 1, .hou, An nor cent. gome think
~ -. -, a.. ,,,.,,,,.i ,ton,.ssi,,,
tue oot'oin o, 'l0 "n,".'"' sfi.'
Is about reached, but do not mink 3D.
believe We will not get TO the lowest
,,i,t u,ts vaar--,ot before the latter
,r -,
emu oi next YEAR iho peOp'e ""'o
rot 10 learn lesson before there u any
.,,,,.,, 49, "a, N, n, ,,,va,,i pove.
''''.N NO. W. ~ y" -.
ment whlch beiieVe win DO s'ehuy'
"fhere are three general causes TO
which ia, pfesont condition may be
.ru.,,,., ~ ~ .,iv.r o,os,,o,
'''Ns''' 20 W. -,
Until thht ~ ueclueu IANofhpIy u 'he
west business will bc hnmpafod. l
believe. how.yer. TINT tho outsome
N.ilI be sn,I.fac,nry Ia M I'm that regard.
md that nI,im.,ayv Mi IN, nation vii
nuort silver M a standard m 20 nj loast
Ell. nut II will tnk, considerable agi.
tnion IN gnin This result.
orh. ssrnnd Gauss of trouble ia OK.
tfayngnnce. The peoplp have beon
,rosnerous. md have mud money 10 uut
an stvIe. Now that timss arr
hard ihey enJeayor 10 keen up The
stvie. and I'm eo doing r,nob hevond
th.ir Inroncs This Sractice Ia much
msre rxtensiye than is penoraiIy
Lnown IL IA. r.nnIe ronl1 A, In.
Iurea 10 abandon tbis outwarI shny
anJ live vItbin their inc,n,ss the
change for halter rnuln cams n,,irLer.
and ,,e wand moi have 10 "a an f,r
down 10 reach "A ,u,nino nnint IA naeI
10 ha ,hat 80 ,,so,in n, an, ,c,,,,,,,
nitv owed bIIls Which thov could MOI
ntcnntiv srtti, Ncu, ns,riv aoa,y.
hadv IA In dsht win the n;on,y t1t
,,oy,,,S,,t v., to he ..,r.d '
.,Thc thiJd on,,se snco,st.d ia 4, N
measure m. oulrr1wth 81 tbe second
It our ,,r,nit syaten ami AZ. ,,s,,s,'
Ne tall n GOOD deal ahont snnnar,i,'o
home manufaotures. wbile AT th, .an,c
time Nv. .r. srnding out 10, ,l,aos,
eyerytbipp. In many lines w, mr..
less ~ nroIucsrs Tam we we're a fc,y
wears ago. Where are the Utah fruitS.
Y.V.tabIes. and meats that used 4, h.,
s,,,,h n f,ni,ro of our nanrh,l.9 Thor.
10 n n,,nnIilv oi tb,a,. 40 he at,rs I'm, A
IL cnmnntativ,ly small When vo,, 90
20 the market what ,io you Gnd? Inn.
poftrd appIes. cabbnpe. Ieltuce. onIans.
hams. beef pouItry. and a goni MANY
other things which ought to lbs ann.
plied right here nj home.
UInstead of raiaiug these fnr our.
selves, we arc mortgsging our land 10
lurphasp them from otherH. aud are
getting deepvr debt every DIV. do
through the Territory aud see how
almost the whole people run credit.
The country stores are carving A
heavy load, where peDple are running
ppyond their Incomes. These stores
are Ia turn being carried by the wlol..
sale houses In Salt Lake principally.
Many Of these country stores have
reached the limit Of credit with the
local houses, and have then turned
and purchased east, getting In debt
there also.
ain this connection there IL an abuse
OF the credit system that Ia going To
result IN Disaster Tho liabilities 10
outside creditors are met more promptly
than to those at home, anu these are
not going to alwaye stand that sort of
business. For Instance, QUE OF these
storeB get n bill FIR 90 or 90 DAYS from
u home house. when tho time Is
up notice In sent, aud IL
permitted to run for another 80 dnys.
Then q payment OF SlOO or go II made.
But N II 10 an eastern house the debtor
Will make a payment OF $500 or 80 on
his bill. This Ia about the ratio of
Discrimination against the local houset,
and, ~ said, they won't put up with
u continually, for lhore has boon con.
siderable CALLING on that sc1fe already.
"It Is not alone country stores that
Hro In this pfedicamont, but gool
uany city merchants. OF course there
hrc come IN BOTH city anu country who
tfDelving money today, but the mos.
OF them nc running behind through
the credit system. There ure whole.
W a,',,', ~, ~,