New-York tribune., 1910-12-17
LOOK FOR sermon; GET It
But Henry A. Wise, Not Rector.
breaches to Credit Men.
SAYS CREDIT OFTEN HURTS
Downfall of Many Clerks and
Low Wage Farmers Laid to
Methods of Some Houses.

IN. members Of the Credit Mems Asso-
r.stion who gathered at Delnonioo's last
night for their annual dinner. showed theS
we're not afraid OF sermon by inVluhs
she Rev St Clair Hester. rector OF the
Church Of the Messiah, in BROOKLYN. 70
speak 10 them. and they got the sermon
n,,- from Henry A. Wise. United States
Attorney instead OF from the rector
Il have seen the downfall OF men due TO
misplaced credit" said Mr.. Wise, and for
their downfall the responsibility may be
put upon you OF upon the merchants to
-horn you granted credit and who granted
them credit in return. There are merchants
who seek debtors instead Of waiting Tor
debtors 10 come 70 them by advertising IN
The highways and in the newspapers that
credit can be had at their places and in
v1ting the public to come and partake of
IL
Theirs is a perversion Of business: they
misuse the word credit and are enemies
20 society. They calculate that by allowing
large enough margin above cost they
can stick TIE honest ma jority OF consumers
for the losses they are bound TO sustain
a. the hands OF the dishonest minority.
Clerks and low wage earners are their
ztcrims- These they drive TO the credit
associations, those accessories before the
fact 70 larceny and embezzlement, and
pretty soon the bounded debtor is robbing
the till. 1 would like TO see this associa-
zion gather together and break UP this
practice Of giving misplaced credit
ouEd like 10 see legislation passed 20
drive cut of this state and every state
those Vuirlres who lure the clerk to bor-
row money at usurious interest and pay it
by enbezzlement- You should educate the
man who takes your wares 70 exercise the
same care YOU take in granting credit
Every small merchant in this town to-
DAY carries credit accounts with consum-
ers 20 whom credit should not have been
extended Every one strikes of bad ac-
counts a. the end OF every month. and Vet
every one makes q profit I believe that
large part OF the high cost Of living is
due 10 this practice"
ATr Wise pointed out 10 the members
Of The aSsocsiation, who as jobbers and
manufacturers and bankers. represented
ceS lines OF business in the community.
that il vas their duty 10 keep the retail
merchants with whom they dealt out OF
The beHkrUptcy courts 50 far possible,
To set together in discouraging the preying
lawyers who dog the trail Of every man
on the verge Of failure. Other speakers
voiced This Same exhorration, among them
George II. Nhiteside, formerly assistant
District Attorney of New York County.
who Is counsel for the Credit Mems Asso-
citation
District Attorney Whitman. who followed
AIr. Whiteside. told the diners he could help
them IN so far as II vas their sincere wish
70 enforce the laws Of the State OF New
York
.rThe District Attorneys office is no col
fecLing agency he said. The threat TO
send debtor 10 Jail if he doesn't pay up
Is not one that any honest prosecuting Off
Ger can countenance for moment [
need your help more than you do mine and
viii prosecute 10 the best OF my ability
al violations OF the criminal law which
you bring 20 my attention, not because you
have been wronged but because the offence
has been committed against the majesty,
rhe dignity and the sovereignty OF the laws
Of the state O. New York
Il remained for the Rev Dr. Hester to
tighten The occasion with series Of stories
1hat came as q welcome pendant 10 the
more serious talks.