THE PRESENT PRESSURE.

Temuka Leader, Volume 2, Issue 146, 17 May 1879, Page 2

THE PRESENT PRESSURE.

[From the ' Saturday Advertiser.'] We have heard of a man who was born half-an-hour too late, and he spent the whole of his wretched life in vainly endeavoring to overtake his lost time. We may say the same thing of our existing social arrangements, as it-0R pears we have all come into the woriuftf, three months too late, and we' are daily toiling to overcome the difficulty. We do our best to make things pleasant by accepting- a three months' bill ;■ but we never overtake the three months somehow. No sooner is one bill paid than we need to accept another, and so we are in the steeplechase, leaping over lmrdle after hurdle, till we are laid in our coffin, and our executors are thankful if they can provide for the last of our currencies. The whole system is so preposterous that we are surprised some judicious thinker lias not long ago suggested something better. The inflation of credit by which we are surrounded leads to manifold mischief. It is very expensive to begin with. All the interests and discounts have to be borne by the consumers. They have also to pay for all the bankruptcies which take place,, and all the bad debts uncovered. The excessive competition engendered of credit leads to further outlay. In the way of distribution of commodities ten men seek to find a living where one could do all the business. Every distributor who is superfluous is a pensioner on society, which not only loses the direct cost of his keep, but is deprived also of the benefits of the productive labor he ought to have carried on.Then the unlimited credit leads to rotten speculation. Men are very free in risking money not their own. The wheel goes round merrily till a spoke gives way, and then a panic ensues. All in a moment,doubt and distrust succeeds to overweaning confidence. The banks, which could accommodate everybody, find they can lend to nobody ; and men of good standing, with good securities in their safes, are brought into trouble and annoyance, and some are wholly driven to the wall. . If credit does bear 3uch fruits, then it would be better to have none. There are signs in the Colony that our banks may have more funds at their disposal by-and-bye, and the managers will be all smiles as heretofore ; but svhy be dependent on bank managers 1 If we have been obliged to curtail our transactions in the present crisis so as tokeep our heads above water, why should we not all make a start on a cash basis—the ready-money principle 1 The social gain would be immense. Business would be conducted in the only profitable manner. In England consumers have opened? their eyes to the advantages of readymoney dealing, and the turn-over of some of the co-operative stores is immense. The recently established association in: London, " The Army and the Navy," has been a wonderful success. In seven years its revenue has been increased from £130,000 to £1,540,000. In seven yearsits sales have exceeded five millions, and the savings to its members are estimated to amount to a million. This society sends goods to its members all over the world, and the demand is continually increasing. The producers and manufacturers are brought face to face with the-.*-consumers. A large number of men and women are employed on the premises in tailoring and shirt-making at liberal wages, and there is no grinding and misery from middlemen and slop-sellers. From the great demand, the Association has had to embark in mantle-making, perfumes, in the manufacture of portmanteaus, dressing-bags, purses, and other leather-work,, tin-work, Japanned ware, cabinets,f fancy-work, even in printing and die-sinking. There is no scamping of work. Better goods are furnished to customers, and the workmen are steadily employed at good wages. The motive power of all this is ready money. Wo proclaim the virtue of cash dealing as being the elixir to cure our periodical smashes, and we heartily urge all our readers to try the experiment, and commence the wholesome practice by a resolution to run no more accounts. They might begin with prompt payment for the 'Saturday Advertiser.'