Year: 1877

If the time ever comes when an
American pays cash down for what he
gets, there is certain Detroit black
smith, says the Detroit Free Press, who
wants to be alive and see the phenome-
non. His business history is, perhaps,
the business history of hundreds of
Others. He rents the shop. The land
lord wants his rent the day it is due.
He has to pay cash down for his iron,
his coal, and whatever else he used in
the shop. Up to day or two ago he
ran three torges. His men have tami-
lies, and must have their wages every
Saturday. The patronage of the shop
is what is called first class" That is,
men of wealth send their horses there
to be repaired. Pass the shop any hour
in the day, and you will see from four
to a dozen vehicles there to be over
hauled, and the shoeing shop full Of
horses. The income Of the shop is over
5000 per week. Not one patron out of
dozen has paid cash down for his work.
They have sent it there without the least
idea Of paying anything until the bill
was sent in. Along about Friday the
blacksmith gets into a buggy and
drives around to collect He has ac-
counts footing up two, three or four
thousand dollars, some a year old, all
against "good men" as the phrase goes,
and the amounts ranging from Is cents
to S35. He calls on A, and a takes
the bill, looks it over and says: "Come
in again" or 81 can't pay it today" or
he has some other excuse. He may
have had his horses shod three months
before. He knows that the smith has
had to keep up his rent, pay his men
and put down cash for stock. The
smith is poor, while he is rich, yet he
hands the bill back without thought or
care of how the smith is to get along.
b does the same, G is not in, ID is off
OH a trip, and Z, perhaps pays a little
on the bill and says: "Comc in the first
of the month.


This particular blacksmith carried
around with him last Friday aud Satur-
day over $1,000 worth of accounts,
called on forty seven good men, yet
did not collect one shilling He had
to pay out that week Sl20 for rent,
stock and labor, and was thus Sl20
worse off than the week before. When
asked why he did not insist on cash
down he answered:


''Let me make sdch a rule and my
shop would be deserted. Men worth
100000 would take it as an insult, yet
here is a bill of 81 against man worth
twice 100000, which he has avoided
paying for the last six mohths."


The other day one forge was hauled
of. Thirteen vehicles needing repairs
stood at the door, but one of the work
men was allowed to go because money
TO pay him could not be raised. On
the accounts representing $4,000 the
smith has paid out over $1,000 in cash
for labor, stock and so forth Each
debtor is reputed to be worth at least
$4,000, and some are known TO be
worth 100000. but the accounts can
be bought for fifty cents on the dollar


There is general cry that business
is fiat, and men are wondering when it
will revive. Perhaps the way to revive
business is for men to pay their debts.
Perhaps still better way would be to
pay cash down. Firms representing
from $4,000 to 100000 capital can
:carry" a few debtors, but the 500 small
concerns who have to turn their capital
over each week must have ready pay or
GO under. People who can pay, shrk
payment. They will carry full wallets,
rush their work in ahead of all others,
demand the very best, and yet ''tbTow"
a bill of twelve shilIings until the credi-
tor gets discouraged and cancels the
account.