_credit system_

credit nEmerging from the old feudal practices under which the merchant, who was at once a store-keeper and an exporter of fish, employed a number of fishermen to catch fish for him and provided them in return with sufficient necessaries to maintain themselves and their families through-out the year, the fishery in all its branches...has been conducted during the last century on what is known as the credit system.. It has been the almost universal practice for each fisherman in the spring to approach either a local merchant or one of the large mercantile houses in St. John's with a view to obtaining, on credit, sufficient supplies of gear, salt, and provisions to enable him to conduct his fishery operations and to maintain himself and his family during the fishing season. Having obtained these supplies, or 'outfit' as it is called, he is then in a position to start fishing. At the conclusion of the seaon, he takes his fish, dried and cured, to the merchant as a set off against his account.PRINTED ITEM DNE-cit DNE-cit GMS Apr 77Used I and SupUsed I and SupUsed Icredit system, TRUCK1,(SYSTEM), credit timeChecked by Jordyn Hughes on Fri 24 Jun 201