Jasper Banner, Volume 2, Number 7, Rensselaer, Jasper County, 22 March 1855 — Long Credits, Short Credits, and Cash. [ARTICLE]

Long Credits, Short Credits, and Cash.

Ffuta the Journal ofiCommerc*.

Messrs Editors: —l observe with pleasure a “Common-Sense’’ Inurement with you in relation to an improved system of future credits. Money, credits, and business must a groe better than from ten to forty-per cent., or some of us “necessarily” come (go) to a (soup) stand. It it useless to disguise the truth, Our general system of “long credits” bin driven business up oA I mi .WFBCTPf shipwreck” large profits. ; V i. We have two classes, the industrious and the idle. All most ©at, while every avenue but the road to positive production, is full to overflowing. Humbug is the order of the day. It , h,ts become a commodity, a foundation to ' wirte and to lecture upon. It is undermining our industry; the punctuality and integrity of our business and people. Defaulting is winked at, 6U per cent, are honorable, and many a “circumstance” ;is thus bettered, (if not the circumstances”); the parries ‘-soon” going on without a bush. Long credits "al-way*” embraces heavy risks enlisting corresponding and profits. Their general conclusion is "oppression" or "insolvency." Brief credits reduce Customers, the risks and the profits “near” actualities. The cash system, or no credits, places the “country trade” on a firm foundation. Then every family pays its way. It creates a value received transaction. Jobaa. their customers sell for cash; while the system “guarantees” 'punctudity’ along thfc line. Productive agriculture requires a reducJ tion of country credits down along is an ! exclusive cash system. Credit* * mercc go -haad in 4mhm£~. The "trade rej quire and are entitled to credits, but all j should be “bankable” or at least payable ' at bank,, and where such are inapplicable, transactions should be strictly for cash.— Then the resources for “punctuality” would be reliable. In rural districts, “long credits” tend directly to “lessen productions;” for so long as "credit’ twill provide for the wants of a family, men idle away their time; but “pay your way;” avoids a mortgage, improves the farm and adds to fortune. So long as railroad bonds and millionaire speculators’ wants are in the market at from one to four per cent, a month, risks "to dcpre.'rbn*mcß” wilt'be taken, and operations must run dow until wereunder an imprbved system of credit. Country merchants’ “business” must pay their paper promptly. When we reach this and men “ live by their business t the country will be “ soundly ” prosperous., Short of it, there must be more or less humbug. We are going along to stability, and shall reach a “platform” by-and-by; ‘not the Buffalo,’but one from which "we can all start fair," but it is a hard road to travel. The “ country ” has yet to bear the weight of this disastrous revulsion. “No Credit” is a great economizer. It lessons wants, -adds to industry, cultivates BfMple habits, and ihiprbtNiS the knbUsehold. It “plows deep and hoes well.” That this movement, may meet “gen eral favor,” uniting a hearty co-operation from the country, irtbe earnest desire of “twenty-five years’ experience” by ”A’ Country, Merchant” yet in the trade. C. G. M. Pamelia, N. Y.