Year: 1859

We can scarcely imagine an individual in
a worse commercial condition than he who
is constantly in debt. No one is more inde
pendent than he who owes nothing; and no
one is poorer than he whose neck is contin-
ually CALLED by the yoke of insolvency. In
debtedness arises from two very opposite
sources, viz: Prodigality and Improvidence
on one hand, and Avarice On the other; and
we cannot escape considering the individual
who was in debt from the excessive desire
for more, as in but little better condition than
he who is involved from want Of due re-
gard for the amount spent and received
Some persons are too impatient to spend, to
allow their necessities to indicate what they
really want to maintain their comfort; and
will actually 90 to the market-p places, and
l,ok around to see if there is any thing which
they may need next week or next month,
forgetting that the wants Of next week Or
n .xt month, may be of an entirely different.
nature from what they now expect them to
be-


.-,. - ply
goes, very few Of the difficulties which are
constantly occurring in the financial world,
would shock our sense Of right, and stagnate
business in the manner they now so fire.
quently do It makes one so reliable and
so respectable to pay promptly all the debts
which he contracts, and those with whom
he deals are always ready to serve him in the
most pleasing manner. If an individual is
prompt in paying the Editor, he always has
his most pleasing bow when he visits his Of
fee. If he pays the Merchant, he is always
sure to be the first waited on, and to COM
mand the best in his store; and if he pays
the Physician, he has at his command that
individuals services night or day, in rain or
shine. So it is with every branch of busi-
ness, notwithstanding the talk of charity and
dsinterested acts The world is too much
'engrossed with naoniemania to spend its
time and services without the consideration
of pccuniary reward.


The Importance which is attached to the
name Of a man who punctually pays his
debts, should be a sufficient stimulant to
cause all to emulate so great virtue, and
to strive for the enviable reputation Of being
a man who never contracts debt without
an unmistakable intention to liquidate it
Unfortunately, with many, the fever for 60





thoughts of paying for what they get. No


individual can be much more unenviable
than he who is proverbially bad pay. Every
one with whom he deals is impressed by his
conduct that he will not pay and if he is
trusted at all, it is with the utmost reluc-
tance: for those who credit him know that
he is full of empty promises, and that when
dunned, he adroity evades payment by the
most abundant return Of deception and ex-
aggeration.


a man should not under any circumstan-
ces, foster disposition to 60 into debt; but
should if possible keep his name off the ac-
count-books Of others for no condition more
involves the loss of his personal indepen-
dence than that Of being conscious of the
fact that he is indebted to most Of the busi-
ness men of his community. The fondness
for going into debt like all other habits ra-
pidly grows upon an individual, and the
more confirmed it becomes, the more obtun-
ded becomes his sense Of obligation to pay,
until at last he is so lost to shame that he
peremptorily refuses to do so, and assumes
every device to elude being compelled to
cancel that which he justly owes to those
who had generously y put confidence in him.
He thus not only dishonors himself, but de-
liberately wrongs another. Ifan individual
who is engaged in commerce, credits anoth-
er, he not only allows that person the use of
his time, labor, and profit, but of that a.
mount of cash which he has invested in his
trade. Hence, when A. goes into the store
of B. and buys ten dollars worth on credit,
he is not only keeping him out of the use of
his percentage, but is absolutely using B.
cash to the amount below his profit, and B.