The daily journal. (Salem, Or.) 1899-1903, 1903-09-02
AGAINST
CREDIT
SYSTEM
Settlement Should Be
Made More FIRE.
quently
How Long Accounts Keep
People Poor and the
Folly Of Running In
10 Debt

The habtt OF buying on credit is N,
curse OF many poor families. Indeed
many families who might be comfort
ably well on are kept poor by this YER,
habit When articles purchased ar,
put ON the book the temptation to bu,
things that are not really needed 4,
Strons. People buying oncredlt. will
get articles that they could very well
do without and that they would NOT
think OF getting n II were necessary
10 lay out cash for them. Human ma.
ture Is unreasonably hopeful OF the
Juture and ever willing 20 spend mon.
ey that need not be paid at present
There are Thousands OF improvldent
people who live all the time up 10 the
limit OF their credit. They buy as
many suits OF clothes as their tailor
VIII trust them for. as many unneces.
sary Injuries as the grocer will allow
them on credit. as many dresses As
they can get without having 10 dolly.
er spot cash 20 the modlste. When
me reckoning comes. and II always
does come, there Is generally aston.
lshment AZ the large amount OF the
bill, CONSERVATION az the necessity OF
paying. and anxiety about the posi-
biliy OF getting the money. The crod.
itor tradesman, as well az the debtor
purchaser experiences these emo.
tons. He finds that his outstanding
accounts are greater than he Thought
and wonders whether he will be able
10 collect oil that Is owing TO him.
His creditors. the wholesalers. como
down on him for money. There Is
Trouble oil around.
Buying on credit IL morteaging the
future. IL Is upending money before
u Is earned. The purchaser that oh.
tains time inevitably pays usury.
Tradesmen cannot AFFORD to lend cred.
u for nothing. and they never DO n
they are prudent business men.
A good rulo for a poor family Is 10
make each week pay for Itself. II the
family bills are paid every Saturday
night out of the weeks earnings Il viii |
be found, generally. that there Ia
neat balance and that the total on the |
bank book will become constantly |
larger Even the larger bills shhould |
De paid out of the savings OF the past |
rnther than out OF the unearned in |
come of the future. n a man has not
The money to pay for a new hat or n |
new oyercoat Il Is better for him 10 |
wear the old one until he has the
necessary cash.
Once a man falls behind and begins
paying his months expenses out OF the |
next months earnings he enters on a |
long stern chase. and IL fortunate Il |
he does not drop further back instead
OF catching up with his debts Pay.
Ing for food consumed and clothes |
long since worn out II an ungrateful |
duty and hard. slow work
II tradesmen would stand together |
In demanding cash settlements at |
short intervals they would make more |
money than they do under the credit |
system, and the honest customers
would not be compelled TO make up
the tradesmen's losses through bad
debts. Tho world would seem like a
diercnt and better place 10 the butch
er. the grocer, and the tailor II they
did businees ON a strictly cash basis
and had no unpaid accounts 90 worry
them. hut IN The competition for
business the tradesman must be as
accommodating a. any Of his rivals.
and he cannot refuse 10 give credit
40 long as any other tradesman In his
line gyes H. The reform. therefore.
n Il ever comes, must come through
the purchaser
In Massachusetts, there Is law
which compols employers to pay
wages by the week AZ first there
was some opposition 20 this law by the
employers. but Il was held constitu.
uonal and the employers are now
very well satisfied with Il. The law
WAS designated q facilitate cash pay.
monts OF bills and 30 remove the ne.
cessity fNr the credit system which
prevailed VIXEN Il was tha general Gus.
tom m tae mills and factories 20
have only monthly pay days In In.
lllana fimllar law was declared
'cRtpry % provision In The cons;i.
luton q that states. \. Bulletin.