Year: 1867




Thirty or forty years ago, most commodities
were sold on credit. Nine-tcntls of all the
dry goods that left the scaboard cities were
sold ION timer-so they said; though the time
often glidcd into eternity. In 1881, very
large proportion of Or importers and jobbers
failed, simply because their customers did not,
and generally could not, pay them. 1t was
partially SO in 1884, and at later pcriOds-nota-
bly, in 81 and 81. Ordinarily, the retailer paid
a part each year-oiten, after it had run twice
rs long rs was stipulated-but bought ION
"tme" more than he paid up; so that the
debt was steadily accumulating, like a rolling
SNOWFALL, until there occurred panic OF
"rcvulsion,n when il was wiped ont and the
creditor with it. The johbcrs were thus ruined,
with a good share of the importers; but new
men stepped in to Ill their places, and all went
on as before-till the next panic"


A great change has since been silently
wrought, in part through the agency of the
War. Our farmers used to buy on credit, be-
cause they were so generally i'll debt; 1t Is
otherwise now. You may say that the mort
cages on their several farms have been con
vcrted into one general mortgage, known as
the National Debt, still the fact remains that
nearly all our thrifty farmers have money at
command, and can pay for what they buy
when they buy it. They know that merchants
can afford to sell their goods ten per cent.
cheaper for cash than "on time,n and they
choose to save the ten per cent. They do not
sell their produce " "on tmo;' they require the
cash for it so they are able to pay cash for
what they need. The better class Of country
merchants are thus enabled to pay cash when
they buy: so trade is far healthier and sounder:
and, were our Currency restored to a Specie
basis, we should have little fear of future re-
vulsions.


The decrease of credits is paralleled by the
expansion of Advertising. Firms that formerly
lost $4,000 per annum by bad debts now pay
that amount instead for advertising, and do II
far larger as well rs safer business than of old;
selling far more goods at smaller profits, and
never losing sleep through fear that they will
be driven into bankruptcy 10y the failure OF
their customers. Five per cent profit on "A cash
business is far better than fifteen per cent on
a credit business, beside enabling the retailer
TO sell twenty per cent. lower than he formerly
did. He who has aught to sell cheap that is
really worth buying can always sell it by efli-
cient advertising. And every day increases





the proportion of those who prefer to keep their
wares until, by advertising, they can find Gus
toners willing to pay cash down for them.


Expresses and increased mail facilities have
given great impulse to cash trade. Goods
properly advertised find purchasers by letter at
points thousand miles away. He who digs
and blasts in the Rocky Mountains will send
his order and his cash to New York for what
ever he wants that is not at hand, provided
he knows that he will be fairly dealt with.
Thus character for probity and honor be-
comes a productive capital, and u perpetual
incitement to scrupulous rectitude in all things.
The Trade Reform based on Cash Payment,
Small Profits, and Boundless Advertising is
still immature but it already promises results
of signal and pervading beneilcence.


The Advertisement, the Mail, and the Ex-
press form the perfect circle of communication
between the manufacturer or seller and the
consumer or purchaser. BY judicious advcrtis-
Ing, all who need are informed where they can
best obtain what thoy want at almost first GOSH