The storekeeper who borrows money to conduct his business with has to buy his goods from some merchant at some point who must make his profit.

He cannot go directly to the producer, because he has got to have somebody to help him out if his capital falls short.
Therefore, before the goods get down to him, they cost him perhaps 30, 40, or 50 percent more than the first price.
Therefore he has to tack on an enormous profit to bring himself out whole and pay his expenses in order to meet his obligations with the factor in New Orleans.

There is, however, among a certain class, as there would be in all sections of the country, as exists right here in New York, or anywhere else, a set of people who will always prey upon ignorance.

The best protection that can be afforded to the laborer of that country is education; fit him for his condition of life, that he may protect himself.
Q.Do you mean to be understood that these traders do business upon borrowed capital?
-- A.

Almost entirely.
Q.Their capital is hired in New Orleans?
-- A.