Year: 1879

Erects house from which to run away.


SO says the poet, and the experience
of many a business man, as well as
many a farmer has indorsed this state
ment. But it is more especially applica-
BILE to farmers. Merchants, from the
very nature of their business, must trust
and be trusted in return. To them
credit system is indispensable. When
a demand for a certain article is created
on short notice, the tradesman must be
able to supply his customers, and to do
so it often becomes necessary for him
to go in debt for the goods; but II he
has foresight, buys with judgment and
understands his business, he will in a
short time have disposed of the goods
at profit and be ready to pay off his
debt. Not so in the case of the farmer.
In his business there are no sudden hits
to be made. For him to go in debt, in
SO cases in 100 hampers his prosperity
instead of promoting it. His income
consists in what he derives from the sale
of his products, his grain, fruit, hay,
potatoes, stock and dairy produce.
These are slowly produced. Many
disasters beyond his control, are liable
to interfere with his plans, of which the
present condition of affairs in England
furnishes striking example, and when
quick and sure returns can not be had
it is, to say the least, hazardous policy
to 90 in debt.


What we desire to impress upon our
readers is to keep clear of debts. OF
all rash acts, we believe that to borrow
money even for permanent improve
ment, unless such improvement is an
absolute necessity, is most likely to be
repented of. A new house may afford
much cherished comfort, but comfort
bought with borrowed money is borrow
ed comfort, and must in the end, be
dearly paid for. 1t is not enough that
a certain improvement will pay the in
terest on the money invested. If it
pays only the interest, what will become
of the principalp The tendency of
things is to wear out and diminish in
value. The drains put into field, or
new barn, can not last forever, and if
improvements that return only the in
terest, are made on borrowed capital,
the condition stated at the outset will
eventually ensue. the owner will be
forced to leave his home in the hands of
his creditor. Again, the returns from
the farm are ordinarily 50 slow that be-
fore borrowed capital can be paid off,
the interest upon it may often amount
to once or even twice the principal, and
the Improvement becomes a costly un-
dertaking. We do not mean to say
that no improvements should be made
on the farm; without improvements ag-
riculture would degenerate. What we
mean is that they should not be made
with capital borrowed onfloose and SUI
perfcial calculations. But few men
have the sagacity to foresee and Judge
correctly of the real value of such in
vestments, and without such foresight
it becomes but little better than game
of chance in which no man should stake
his independence.


There is another class of debts in
which some families thoughtlessly in
volve themselves. 1t is those little
items from the grocery, the hardware
store, the lumber yard, the shoemaker,
etc., which, though seemingly innocent
and insignificant in the enselves, soon
swell in the aggregate into respectable
bills that will be doubly hard to pay af-
ter the goods have all been consumed.
No one should buy on credit if he has
the cash wherewith to pay, though it
be necessary to disturb bank account,
and if the money is not at immediate
command, it is better to contrive to do
without q thing in some way, than to
buy it on credit. To live within ones
means is an important lesson to learn.
No man is rich whose expenditures
exceed his income, though ne dab
bles in millions, while the one who can
save ten cents day is on the road to
fortune.


Young men who are fettered by pov-
erty and who wish for the use of few
hundred dollars wherewith to start in
business, to finish a course of study, to
buy piece of land, or for any purpose,
should hesitate twice before giving up
their independence, and voluntarily
fling themselves into creditors arms.
Wait, work and pay as you go. You
may attain your object more slowly,
but it will be reached just as surely and
with infinitely greater satisfaction. II
your good name is all you can offer as
security, rate of interest will be re-
suired which, under other circum-
stances, would with propriety be term
ed exorbitant and usurious.


"Hope springs eternal in the human
breast,' and to the young man who
views life through rosy glasses, it seems
an easy matter to repay few hundred
dollars but when the money is spent,
and the principal is swelling with the