The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-06-25
Rich People The
SIoWeSt TO Paw

James G.. Cannon vice president of the
Fourth National bank of New York, made
the statement in an address before the
national association of "credit men" that
the wealthy class give the most trouble
in retail credits. He had consulted
large number of merchants in various
parts of the country and found 1t almost
Invariably their experience that the slow
est customers are those who could most
easily pay cash; 1t Is almost impossible
to collect from them" This, remarks the
Springfield Repub SAN, is a fact as dis
creditable to the class in question as II
is surprising. 1t not only sets a vicious
example of unconcern for obligations
fairly incurred by those who can least af-
ford to have such an example become con-
tagious, but it works positive injury not
alone to the tradesman, but to those of
his patrons who do pay promptly and be-
trays the existence of a servility of de-
meanor on the one hand and of superior
Indifference on the other, which is not
creditable to either party and not helpful
to business equality and exactness.
1t would be a surprise to his audience,
Mr. Cannon said to learn the names of
those standing high in business and So
cial circles who are dilatory in paying
their personal bills. A representative
| merchant of New York had lately ex-
pressed to him his inability to under
stand why so many rich people allowed
| their bills to run so eternally slow" If
| the merchant protests these debtors usu-
| ANY affect to feel very much insulted and
| quite generally transfer their patronage
| to another store-often without settling
the long-due balance at the other. They
| cannot apparently bring themselves TO
| realize, says Mr.. CaSnon, that a debt
contracted in this way is a just one. ,.
| Ha fau hat baH nm
| der his own observation. One was where
| a poor DIR essmaker had worked $3.50 worth
| for wealthy woman who paid $50 and
| then went on long European trip, not
paying the remaining 800 until her re-
| turn In that time the poor woman had
| to default on her house rent and other
| obligations, and not only suffered humil-
| iation herself, but of course had to visit
| trouble pom others she was owing. An
| other case was that of a butcher doing
| large business who had as a customer one
| of the very SWEETEST families in New
| York. This femiy's account kept ac-
| cumulating, the occasional payments,
| leisurely made not even sufficing to pre-
| vent the balance from increasing, until
| the butcher, out of patience and IN
alarm. timidly intimated that a COM
plete settlement was desirable. There
upon the wealthy debtor became very
much offended repudiated the whole
"still keeping up style and no doubt con-
tinuing to roll up bills with other deal
| ers."
These are simply examples of a prac-
| tice quite general among the rich. Their
| dilatoriness in some cases is due to care
| lessness and an indsposition on the part
| of the tradesman who enjoys their pat
| ronage to remind them at frequent and
| regular intervals OF their obligations.
| In other cases, 1t is to be feared, the neg
lect is more deliberate and grows out of
! a self-assumed superiority to vulgar gro
cery bills and disgusting little meat ac-
counts and indifference to the obligations
they imply. In some few cases there is
a manifest disposition to maintain an
expensive style of appearance and living
with az much cost to others as can be
put upon them.
This Is all wrong and the only remedy
for ii we can think of is for the mer-
chant to become less fearful of losing
this or that wealthy customer and to in
sist upon as prompt payments from this
class as he would from any other Some
pressure on this line applied by the
stronger merchants in a locality would
ere long correct what is largely only a
habit. We have been going through a
period of nconsiderate personal extrava-
| gance all around, and unlimited credit
at the stores is no little cause for it. The
practice of cash payments is not only
wholesomely corrective of this, but bene-
fetal to the merchant as well in the end
His customers may not buy as much now
or at one time, but In the long run they
will. There is little good reason for the
| salaried or wage-earning person ever Ia
ask credit save in exceptional Instances
and prompt settlements from the wealthy
would help vastly not only in putting
and keeping retail trade almost entirely
on a cash basis, but In promoting general
, habits of thrift, living within means and
strict honesty I'm the observance of the
smaller obligations of life as well as the
larger