New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-01-23

dragon In reality II Is scheme 10 enapN' us
honest debtors to repudiate payment. 30 '"'
ms Il affects an honest man making coh'r"''
il will serve to destroy his credit ana I"rce h'"
times upon him. Any corporation. 10 l'i''c'
how free from trusts. which, with this law III
opcrotion gives credit TO anybody III ieora"
whose good faith is not amply proved. Simply
takes the risk Of having its goods con'isca'eu.
The purchaser ha wing obtained his wares may
refuse payment and the corporation before !.
can collect must prove that it has not eh'ere"
into arrangements contracts. agreements
trusts, or combinations between persons OF
..corporations, made with view to lcsseh' OF
"tend TO lessen. full and free competition.
This offers n premium on fraud. Few manu-
facturcrs would pretend that they did not nave
agreements with other concerns as to staildard
prices for certain goods. There is nothing dls-
honest or undermined about this IL Is simply
the reasonable understanding among men 10
carry Oh the same business on equal terms.
Physicians have common scale OF IeeS'
Farmers demand that they shall all obtain the
same prices for wheat. and this bill speclaii!
exenpts them from the penalty OF combinations
All the Georgia cotton-growcrs may compihc 10
corner the crop. but hardware dealer III "
small town may not agree with MS heiehpor
as 10 fair price for axe hclves. Consequent!
every cheat who can get credit for nalls ana
hinges from such dealer can hope to avoid
the debt.
The bill may stop the payment of debts, nut
II will also prevent the contraction or 'heh'.
No firm is going TO do business In Georgia. "
such laws are in force. without guarding ts'li
against spolation Poor collateral makes high
interest. and bad debtors are not easy Dor
rowcrs. Cash will he demanded and credit re-
fused where there is prospect of reputation.
One firm recently wrote:
Georgia mill men will find 1t impossible to buy
machinery upon the favorable terms heretofore
granted them by the manufacturers we ar
not members Of trust in any sense or the woru
orr business is controlled absolutely by the OF
ficers of this company. but we do not hesltate
to saw that we have agreed with one or two OF
our competitors to maintain prices on TWO Hia.
chimes made by this company. This arrangement
resulted from a long and bitter competi'ion
which caused the machines 10 be sold far beiow
their cost 1t was finally arranged. by mutual
agreement. that these machines should not ne
sold for price less than cost. THIS arrangement
was entirely legitimate. and no secret mas peeh
made Of its existence. ana we dare sa! 'hat
there Is not an important manufacturer I'm the
country whose business ~ conducted without
cortai, arranpements OF this character Under
vour recent law we are prevented from doing
a safe business in Georgia upon any otner imam
a cash basis. We take ii that practically all
the manufacturers VIII regard the rhat,er IN 'he
anne light They will not care to he called upon
continually to prove that they are not operat-
ing under agreements Of any character with
other manufacturers.
So the Georgians are rctardng the develop
ment of their own Industries. They are les
SEEMING competition instead of increasing 1t. AMI
making it more difficult for a citizen OF the
state to get either credit or low prices. This
NAV seem 10 them craftsmanship. but to the
ordinary mind it will much resemble biting or
ones own nose.