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The Pamphlet Collection of Sir Robert Stout: Volume 30

A Better Class of Traders the Result

A Better Class of Traders the Result.

A better class of traders would spring into existence;—The limitation of the credit system would have a disastrous effect on those business people who occupy a position in the commercial world on false pretences. I refer to unsound traders. These are the gentlemen who give credit indiscriminately, because if they are never paid at all it is their creditors and not themselves that are effected. They have succeeded in forcing themselves into the positions which they occupy under nothing less than false pre tences. Confiding merchants, whose offices are hundreds of miles away, supply them with goods, believing that their obligations will be duly met Armed with stocks so cheaply obtained the mushroom trader immediately hangs out his sign as a vendor of cheap goods, which he assures the public are to be obtained fifty per cent under market quotations. He also confides to the community that his stay in their midst will be short, and advises them to take advantage of it while they may, Of course we all know that the gentleman will stay on just so long as he is able to sell goods, and that one reason he can undersell the legitimate shop-keepers is that he does not intend to pay for his goods, or at most, he will only pay so much in the pound. In fact it is just a repetition of the old story of the two street vendors of brooms. One boasted that he sold cheap, and admitted that he stole the sticks as well as the heads, and then put them together; whereas the other stole them ready made. The mushroom trader steals his wares from the merchants readymade, and then proceeds to dispose of them as quickly as possible. No reasonable offers are refused, according to his own admission, and it comes to this that the ready money raised in this way serves to stave off the more pressing demands of dissatisfied creditors, and it is in reality the money of other creditors that is thus made use of.