Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-09-03

TIL. term. Debtor and Creditor t. have proved the
vtunbiiug block Of every author whs has snasss
vlsu their application The scis.ce - stlesn AA.Js'
Strictly aS their 10 dsnsshiue sSs ss any =,
sosnt may wish s lint osts whns sns With , a. ,h.;
subject have tor,ued their magnatsns - wen ~ ns1s
d ~ ,S stasmn,s 20 preserve the ordinary meaning Of
these terms and to that all items the
D az one account are collection Of purchases 81 another
o.,es Of another receipts OF another soes Ar
- !. ab.sluey necessary that all this SHOULD be Known In
a:S...t account DR.. has a different object, and
Dr. iLe another farther than ITS osiongng 70 the s'
hand column Of the account Du' even we coI, ~ ,
on Of owing each Of these Should only DC turing Inc
the stsdent from the investigation Of principles whch ne %
s,elv must learp and employ his ingenuity series Of
conundrums Of which throw g"t upon the
next the puzzle being dependant ON an arbitrary use
The theory bsskkeepss problem Of arrangement that
is writing down the state o. merchants iegr
divided seperte places of record called accounts each
class items therefore proper place assigned and t"
know places and the object Teach collection know
ihe pan Now has convenient to make general
Of De- and C itt ms before they put into the
Ieger TO state what each belongs TO- whch
call joarnslzing but it's clearly impossible 10
this until the plan the leger has neeh
saded and the object Of each collection has become itma
Thus the collecting ther all receipts Of cesh forms @
cple from which the pupil dedaces a. once the pace " @
single receipt and with every other part Oh he a'a
cement - -. A., 30 ono ,y;u
Itmay med with positive certainty, that no one WI
sncc.d in keeping books until he become familiar with
the eger and principles Involved IN IT, ana hehc "
resurrection rather than that school, young man IN
the counting house will in time, by looking ever ine M
But The OF
.,;ee all rational principles are not only
kept out Of discussions but the pupil is prevented from even
discoveries his natural resources wona nave eu
him to- II is absurd pupil to onrna'zc before be mas
explored the theory the eger and made the whoie is
plan which he cosid arrange any business
that might him if Ell attempting to Journi1e ne
should fail let him theory until he feels hIse
Oft and the effect an! entry vi" nave On
the final balance shee'.
double entry eger contains two distinct sets oil accounts
each being Of itself complete history or y 2,
tile of business The items are IN eac
set but they under different arrangement nus one sc'
show how much the merchant Is WORTH by exhiohs ms pres
ent effects debts shows what he's wsfth ~ *
hbng the original capital and subsequent gains or losses
The these sets scheem oi W
showing what the merchant WORTH constitutes me paahco
ofthe books. -
Cash Bills Receivable, Bills Payable and Persons Accounts
are called definite accounts because they show Inc
the Of the eoncern they constitute one ehs e
The the leger, however numerous are
merely exhibit how Of the property as SHOWN IN inc
definite accounts has been gained, and how muIh was
oririna capitals items gsn etc. are abstract
SIMS and be added the property but are merely
used il all acquired they are called
nj ped