The Law must be Altered.

To bring these remarks to a conclusion, I may repeat what has been before alluded to, viz., that unless the law of the land is so altered as to assist the community in doing away with the credit system, it is vain to hope that any improvement will be brought about. To live in the commercial world and withstand the most ordinary competition, it is imperative for each man to adapt himself to the customs of the majority. No simple trader, or even a band of traders, could possibly limit the term of credit. The cooperation of all the trading fraternity must be invoked or the project must fall to the ground.

And how can unanimous action be relied upon? Only by legislation. If the limit of credit between debtor and creditor be reduced to six months, instead of being allowed to stand at as many years, then settlements would be made promptly, and hundreds and hundreds of people would be saved from that dangerous practice of purchasing articles with the intention of not paying for them until some indistinct date in the far off future.