The Wairarapa Daily. WEDNESDAY, MARCH 16, 1887. READY MONEY PEOPLE.

Wairarapa Daily Times, Volume IX, Issue 2549, 16 March 1887, Page 2

The Wairarapa Daily. WEDNESDAY, MARCH 16, 1887. READY MONEY PEOPLE.

We heard it remarked yesterday that' no less than thirteen people from ;Masv terton were prooeedujg for a trip to England in one ship next mo-nth, and that they wouldbe missed'in the com-, mnnity because they were •■'.ready money people." We fear that ready money people are somewhat soared .in all colonial settlements, so that to part with thirteen of them at once is almost. a misfortune. Still iii.ijj a ppd reflection that Mastertonjis able'to put tbirteen ready money peoplejinto one ship; it is not every up-country township in New Zealand can do asmuohas ;his. The ready money people in the long run are the lack;/ one 3._ " They ;ome into no misfortune like other "oik." They buy ■ their goods more cheaply and purchase only what they, require. A shilling withareadymoney man goes as far as eighteen-pence with amf n who buys on credit. Still ;!.'«colonial failing is to ignore the evidence of one's senses, to despise the economic experience of generations by reiving for progress more on credit than on ready money transactions. Of course in mercantile pursuits a credit system is in many instances a necessity, but even in trade it is found that "he man in a position to pay cash has the whip hand of his business rivals. The credit system of the colony, however, is not limited to purely commercial transactions, but extends from the ■lurchase of a penny article to the investment of thousands of pounds in real estate. Every encouragement to oxtend oredit is held out to borrowers by loan societies, by traders, by banks, and, we aro 3orry to say, by the Government. The latter has taken to selling land on credit, and we fear that many of the evils of the credit system will be the outcome of this now depar-. ture. A man who buys land on credit very often wants it cleared, sOwn, grassed, and stocked on credit, and in very many instances the resnlt of this reiterated demand for oredit is diaast-. rons. ThflGovernmenthavetaughtmen without'capital to-settle on land with credit, but we fear that they oamiot teach them the next step viz. how' -to slay upon it. however, the. experiment of credit land settlement is now on itstrial,tad'another year or two will absolutely demonstrate its value. The oldroa4 to suocßss,thehardest to travel,

is the Surest and the safest one r vjz. regatdibg debt m\\ shapes and forms as. w. enemy, and. depending upop savings for advancement. If a wealthy man, is asked how to becorae rioh, he to the time probably when, he only earned five shillings a day, and declare that he saved one or .two of them. Jt took time for the shillings to become pounds, it took a few years to make the' pounds''into hundreds, but the ball once set rolling in the right direotjon increased, till the taßk .of., adding thousands to thousands became easier than the old straggle of puttipg by one or two ahilhngsjalday. The lesson Mr Bailahce is 'km tea'cmnghißorediti settlers is not a sound one, and has notthe experienced successful colonists in its favor, Within certain limitscredit is» valuable adjunct, even to settlers oh4aH ba* * ® on ty' sharp shrewd safety M with r gives too much credit or N 'rs w credit invariably comes to grief* ?e ' i

as the man who neither gives nor recoivea credit generally manages to hold to . ■ his. op.We trust our ready money settlers who are now about to visit' thi England will enjoy .their well earned Mi holiday,.and will in due time return to clc , : a toim not too amy men : of theiivwa'y: bf* tbiinlimg : and which mi seeds them as a practical illustration '^ G of the. to be secured by r tfirift. : ' • - BI