Show communicated CREDIT VERSUS DEBT the commerce of the world is carried on by credit promises prom laen to pay and paper evidences of indebted nes neon in a variety of forms forma but it is not the paper purely not toe the promise promis Is to pay it in that confidence and assurance of experience behind all this which give elvei an obligation value if the element of uncertainty entered into this far reaching trade its limits would be very much curtailed it if notes notee and drafts were not in the main promptly met an immense volume of transactions now practicable would have to be abandoned or paid for before delivery enormous sums of money or value are represented in this simple and convenient yet effective way and while gold or silver is the ultimate basis of money credit and its concomitants represent fabulous amounts amount far in excess of all the precious metals of the world transfer Trans fei and exchange is systematized through banks and clearing houses as they are technically called balances are determined closed or carried as is wont and a few moments clerical effort efrost settles the business of a city or as la in england all the railroad passenger traffic of the island every day in times of depression or panic every thing to is very closely scrutinized for a day or two involving peculiarly testing financial conditions can bring down the cred credit it of old and overshadowing houses or firms and when they fall ruinous consequences may have a woi wondrous idrous scope as dependents are with such multiplied almost without limit hence catastrophes of this kind never come alone so interlinked and intricate are the business relations of mankind in such times assets asset a has been seen of late out but a I 1 little atle figure A failure was noted within a few days where holders of able property running to two ot 01 three millions had bad to ask the protection of the court because a few paltry thousands could not be had to tide taj thes firm over ever a difficulty which auder other circumstances would neither have veen been thought nor heard of it is not however with the comell of giant firms or the marvel ous profits and liabilities of those who are kings of finance that we have to deal although as humble subjects we and tens of thousands or millions may be affected by their manipulation of stocks or produce for railroads and broad bread feel equally the electric touch or of their fingers and the thermometer of values goes up or down as they balor hot or cold but there to is a credit tem tea or no system among the masses which is demanding not only con cola 1 l OD but reformation TO tho the many credit may at times be of great 1 value when it is too easy or too abundant as the result of competitive selling when so called accommodation is forced and t en becomes chronic it is an unmitigated evil the tempts to solicit credit rests heavily s enough upon some but to have it i fostered beyond all precedent hw baj ba J been reserved for the business on en H ter tor prise of the last few years storm 1 have multiplied because their owner could get credit and they have halt bail buyers because these 0 uld got get credit one has felt fell free and liabilities have been created indiscriminately first and last easy come made easy j go until nearly everyone every one is in and haw ha bern been living beyond their means mort 4 practically their future and the rude shook shock of embarrassment froma denial of credit seemed to be the only thing which could awaken the jaaj going Jl to the impending situation it cannot be said that one CIA class Is i any better than another in this diree tion the poor man thema the man not of swam small wages is behind with his bis rent he owa a little to the storekeeper and to the butcher and so closely is he run that 1 l the lack jack of a weeks employment or I 1 sickness eio kness of self or family places jalm him at 1 I his bis wits wit send end but after all this claw of indebtedness is proportionately small and there is with such gen orally enough sterling if rugged esty which commends leniency 1 and sympathy until times improve i it is in far otherwise with another section i of debtors those of the mistakenly called respectable class those to whom the doors of society swing owing open almost without a touch there a large ju in J debt edness due dealers from thaw element ement eF every storekeeper of the order order which supplies lup plies and oaten caton to what would otherwise be a nice trade known know the difficulty of even asking for a settlement of such accounts offense Is fg easily given while to sua BUS pend that credit which la Is but a convenience veni ven tence ence and privilege at best involves of insult and probably low joe af that trade if this classow class of amounts accounts were but few the difficulty would be ew esp and if months elapsed between payments it would not be so BO bad if the seller bad the same privilege ot of extension but this is denied for as we ha have been the credits of wholesale houses have a limits limit 30 60 or 90 days is the rule rod and promptitude in payment vaunt must be as aa certain as the of the sun we ask now why should the retail dealer not expect and have just as aa definite a time with his collection why should customer cus tomera buyers act with him as though it was waa of but little moment whether he is in paid or not there are bousek firms firm individuals la la in trade I 1 in a this olty today who do not know which way to turn weir home bome and credit are areat ate stake take sleepless and anxious days are theirs because those whom they have ROM accommodated are dilatory in settling their accounts and probably the ot of an entertainment ot of a reception the enjoyment of a trip the effort at style and display press and ana friendly comments upon family and social hospitality were made possible by tile the credit of a little tile the owners of which tore store or two would be unwelcome intruders Intrude ra into that charmed circle which their means for the moment made po possible isible attractive and I 1 bhart reckonings make long friends sj was an aphorism in the days of our fathers father modern custom reverses this thip and finds that long make short fri friends endo sand and few know tile the amount of bitterness and ill feeling which has its origin in thle this apparent negligence or indifference to I 1 small mull scattering accounts awe no man anything scything thing J said paul owe every man something if you can Js is the modern idea and so there are bunners dun Idun neres ners and collectors and lawsuits and estrangement beyond computation and if ever there was any crontin profit in that trade which madette made the debts debt it to is all swallowed up in the expenses of collection leniency Is thus made injurious it must be understood that there is a limit thirty or sixty days day as may be determined after which some simple pimple enactment should insist upon speedy payment by the debtor without ex expend to the plaintiff or as a some have suggested debts should be un collectable by law thus making every debt a debt of honors honor and so compelling tile the seller or dealer to be more discriminating than he may have been or is in at present |