THE HISTORY OF COMMERCE
until he could collect the price from the consumer. The intervals of credit varied with the nature of the goods, but the principle was unchanging. If a broker failed to observe his engagements, his name was posted in the market as a defaulter, and it became impossible for him to buy again until he had satisfied all claims against him. It is thus evident that credit was the basis of all commercial transactions in Tokugawa times.
In these matters of ordinary sale and purchase the law did not provide any special safeguards. But it did interest itself particularly to impart security to commercial paper. A claim founded on such an instrument was given the privilege of "summary action;" that is to say, it was entitled to be tried without waiting for the regular Court days, and a favourable judgment gave the creditor a right of priority in the distribution of the debtor's estate. It has been truly said that the whole process of production, manufacture, and distribution rested firmly on a basis of commercial paper.
There was no lack of official attention to the subject of weights and measures during the Yedo administration. Certain makers of weights, measures, and scales were licensed, and steps were taken to prevent fraudulent practices, officials being frequently despatched throughout the country on tours of inspection. But the old want of uniformity could never be completely corrected. No less than four units of length remained in
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