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Home > History of Credit and Debt > Easy Credit – Logansport Pharos, Logansport, Indiana, May 15, 1886

Easy Credit – Logansport Pharos, Logansport, Indiana, May 15, 1886

ONE lesson taught by the hard times, says a current writer, is to keep out of debt, and how to do it. “This Is a forced lesson like some of the others, but none the less valuable, for it has been well learned.

In many places merchants and others have narrowed the doors of credit; and in some they have closed them altogether:, and many were compelled to forego that credit which heretofore has been easy.

I am Inclined to think that the easy credit system which prevails throughout this country is one of the greatest inducements to extravagance. It is so easy to obtain things upon promise, that debts are made one after another, and when the day of reckoning; comes the extravagant debtors are ready to cry that labor is underpaid, and popular discontent grows to alarming proportions.

But we have been shown that not only that debt is disagreeable, bnt that it is avoidable and that we can keep out of its clutches.

It is the hardest master and the most inveterate foe the world ‘has ever known. There is no Sabbath In the week, no holiday in the year. It threatens the poor wretch every moment in the day, and troubles his sleep at night.

Too often in the end it takes away the home. Happy is he who never goes to the money lender.” – Logansport Pharos – Logansport, Indiana, May 15, 1886

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