The Fielding Star. TUESDAY, AUGUST 17, 1886. Cash v. Credit

Feilding Star, Volume VIII, Issue 28, 17 August 1886, Page 2

The Fielding Star. TUESDAY, AUGUST 17, 1886. Cash v. Credit

When ready money is scare and times are consequently dull, tke subjeot of the credit system is generally taken up and roundly abused as the cause of many of our troubles. Here we think that it ia that a great error is commented. It is not the fault of the system ; if the evil lies in its abuse. Credit, founded on a confidence in commercial honor, has been the chief faotor iv elevating the trade of English speaking communities to the position it now occupies in the world. Bills of exohange and bank notes are the most ligitimato representatives of the system. Without these commerce in its present proportions would be impossible. If credit were confined to its limits commercial panics with their accompanying disasters would seldom occur. Where the abuso feegias is by the wholesale dealer enoourajjing small retailers to commence business without capital and experience. These people give unlimited credit to customers whose circumstances of life do not justify their reoeiving such credit. But the temptation to discount the future is too strong for the latter who gladly enjoy the oertain present at the expense ef an uncertain future. These two classes, the confiding retail dealer, and the unscrupulous consumer hare much to answer for. But there exists another class of people who are as much, if not more, to blame than either of these. We refer to those persons who are in a position to pay cash for every article they buy or consume, yet who on every possible occasion avail themselves of the oredit system. Not only that; many of them are the slowest and most unwilling to pay accounts, great or small, with whom the unfortunate tradesmen have to deal. It seems a one-sided state of affairs when the latter have to cast about to formulate a soheme whereby they can make tolerably certain to receive cash value in return for their wares. People should prate less about " commercial morality" and praotice more " consumers morality," by exercising greater promptness in paying accounts within a reasonable time if they must get into debt, and cash when they have it in hand.