Year: 1867

The recent war through which our coun-


try has passed has wrought many changes In
our political, social and business relations.
In this article 1t is not our purpose to touch


political or social conditions, but to speak Of
business matters as they now appear and
compare them with the rules which govern
ed trade previous to the rebellion. 1t Is well
known to business men who lived in the last
generation and who are still engaged IN trade
that large portion Of commodities were
sold on credit. and especially was it the case
with dry goods. Seldom did the trader from
the country when he visited the cities on the
seaboard to make purchases pay for his
goods with cash down, but got all the credit
he could, so that he might be able to give
his customers large credit. II will
be remembered by many that the year
1887 was severe one for those who were in
volved in debt In that year many import
ers and jobbers failed because they had trust


ed out their goods and could not get their


pay. AMI the reason why they could not get


their pay was because their customers could


not raise the wind TO meet the demands
upon them. At that time there were many
failures In the city and country. Farmers
then were In the habit of running up large
bills at the stores, and when the time came
round for pay they had not the means, for
they were much In debt Since those DAYS
great change hss been wrought In the
business of the country, and tl.is change In


some good degree has been brought about by
our recent struggle. Farmers now are not
so much in debt as they were before the


war. The mortgages on their farms have been


paid up and discharged, and most of
them are now able to pay for what they buy.
All our thrifty farmers have money in their
lockers and are ready to drive good cash bar
gains. 1t is well known to every man who


does any business at all that merchants can af-


ford to sell cheaper for cash down, and none
know this better than our farmers. They


don't sell their produce ION tine" They give


no credit, neither do they ask any. The con-
sequence of this Is that merchants can pay cash
when they buy, and trade is In sounder and


more healthy condition than 1t used to be
WhSu ouoiuCSo was PtiuStpuiiy uouc Ou
We well remember what an excitement was
produced In the country when President j ack-
son said: "a man who trades ON borrowed


capital ought to break No wonder the trad
ers were thus excited at that time, for large
proportion of business was done on credit
Such remark now would not have such an
effect ON the community, although it might
come from high authority, and for the very
good reason that business is not now done ON
the credit system as it was in Jackson's time


One of the legitimate resultsof this decrease
OF fcredit is the expansion of advertising. The
New York Tribune says; "Firms that for.
merly lost $4,000 per annum by bad debts
now pay that amount in advertising and do q
far larger and safer business than in years
past" This Is perfectly true. They sell more
goods at smaller profit and have no disturbing
dreams that their customers may fail He
who has anything 10 sell cheap whicn Is
worth buying can always sell it by efficient ad-
vertising. When business was principally
done on credit every man knew where he
must 90 to trade He must 60 to those who
would trust him, and he sought no others
but when he has his money in his pocket the
customer feels at liberty to 60 where he can
make the best bargains. And how can be