Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1898-01-16
observation-disclosures 16 1898.
Tur TRADING STAMP EVIL.

The substitute for the Murphy anti
trading-stamp bin the House Committee
on Banking and Currency reported yes
terday lodges the issue. 1t does not
afford the relief asked for by a large ma
jority Of the merchants OF Richmond,
which majority embraces users as well
as non-users of the stamps II juggles
with a principle. 1t would effect a COM
promise with a system which experience
has proved tends 20 the subversion OF
sound business methods, and economy,
and righteousness on the part Of the
purchasers. and which judicial decision
has denounced as a restriction upon
trade
But. aside from this broad ground Of
objection to the substitute. it is obnoxious
In many other respects. II leaves exist
ing contracts just where they are, and
makes no provision for protecting out
siders against being charged prohibtory
rates for the stamps by the companies.
Exclusiveness has been the great induce
ment heretofore offered to merchants 70
purchase the stamps, and If that feature
- N4lAAAlAA'N AANAAA AlAC GyoANAAAf 49,
who have continued 10 champion it win
soon begin 10 realize a/shrinkage in its
advantages 10 them. il seems impossible
that the companies viii be able 10 main
tain their hold If they do not give special
privileges TO some Of their patrons in
the way Of prices for the stamps or
otherwise. Furthermore, 1t is not clear
what IS meant by the provision in the
bill that nothing herein contained shall
be construed TO include. apply 10, or
affect existing contracts" If this ap-
plies TO the provision Of existing con-
tracts as 10 territory and one or two men
in a certain line Of business, then the
other provisions Of the bill are brutum
fulmen, a Jingle Of words. and strongly
suggestive Of a cat in the meal-tub
In the second placs. granting that we
are mistaken, that prices could not, and
would not, be raised, so far as new custo-
mers for the stamps are concerned, and
that the companies could DO a profitable
business under non-exclusive regulations,
the tax-levy feature Of the system would
still remain. Many businessmen who
now use the stamps, but would be glad
TO shake off the tax. would be forced in
self-defence TO continue their use, and
by the same token many non-users
would feel compelled TO purchase them.
Either as 1t now operates or would ope-
rate under the substitute the system
puts the business of Richmond largely
at the mercy Of the trading-stamp COM
panies. AS regards many small mer-
chants. it might operate TO break them.
So, we repeat. the substitute lodges the
issue juggles with a principle, and fails
20 give the relief asked for. We confess
that. in view Of the thorough manner in
which the evils OF the system have been
exploited, we are utterly at a loss TO
comprehend the influences that led the
committee to formulate the makeshift.
However. we shall await with patience
their explanations, which will be doubtless
forthcoming when the substitute shall
have been pressed 20 a vote, confident
that they viii be in their seats and ready
10 meet the issue squarely. That issue
IS whether the Legislature will give our
businessmen the relief prayed for. or
perpetuate the onerous tax the trading
stamp companies impose.