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

SIMS and be added the property but are merely
describe how all acquired they are cau
accounts, and arranged thus:
AssTRAcr ACCOUNTS.
Dr. Stock ~
Debt. Commencing. Capital commencing.
d. Ship. C'
Dr.. Profit and Loss. Or.
I'''''' prr,slrr ACCOUNTS. :
Dr. Cash ~.
d. e'f''' Bills Receivable Or.
Note. received Disposed Of.
Dy. Bills Payable. Cr
Dr. a. b. Cr
H;'acco,n, ability 70 me NV accountability to hin.
will appear from above that the abstract accounts
leaving on. stock contain their Dr. columns the whole out
Law in the business e headings OF the several accounts show
ing in what The sums were expended ana r ~ S
contain Of business each class Of returns oens
impaired with its outlay by which MEANS tne gains OF oe'
the whole any part Of a business, wiz os a, u
duced Of accounts be increased al pleasure
provided care taken always keep the outlay on the Dr.
side shows the original capita and subsequent
gains and consequently the present worth OF the nerchan
little farther will show that each oil these
Of accounts necessarily give me same or
they items under different ciashc anon
IN. Gums entered outlay forming the debts
Of the same sums that are entered
in OF the definite accounts Tor all outlay must
have ca.h paid bills dposed Of or debts contract
would 9ueny be catered IN each Sc on ne up
side Of aud the credit OF the other Ana All sums
en- cred as abstract accounts have ass her cor
responding entries the d. bit Of denne accounts er
az eceiyed bills received debts due Hence ne deou
items Of .ne Set are credit Of the other asd double
entry reality schemes Of arranging the money items
of busuess; follows a,o from this double
that entries always required OF any money item IN he
lerer columns Of set OF accounts are e re-
of the other OF these entries must &c deo anu inc
other credit.
From an nsps cton the foregoing forms Of accounts
appears contains principles IRON winch 70
d.5uce the individual debts credits and when all these
principle. familiar tn never be The sgntest d,m
Guilty iourualsng transaction; the OBJECT anu bearing
oS esseb entry must an Be knawa al the Time"
I.v, that the d
arranging Mr. Jones proceeds to teach ha the
o not depending howe,sr upon ns P xse 10
requires them Tsey must show the state oil each
erchsn business and describe the result OF each sPscua
ton These egcrs Represent conceivable position 81
business from Of which the pupil draws OIL balance
he, He master Of every part Of leger and
are pa, hi. hands, aud he jouraaic' posts, and closes
them without any help from his tea her ssreiy the know
ledge acquired IN this way, must be an LOT
We close our extract with the following brief criticism
When pupil ournalze, before he has studied any
49,, he cnnuou practice OF teachers aud authors 10
pan sppc alton ofsome nfibe rule 10 each successive
Transactions through the book Our understanding may Dc m
.ly obtse but must nevertheless, risk the concssion
,ai We ca rule can he nfalble which
the author dare trust his pupil to use but which ne
consider, to eucdate Ia every case 10 when ne
would a,,ly h. The manner which Of these authors
are Obliged chop log,, order TO reduce All pr items 20
,hag. ewing is highly amusing. The follown an example
srom hoos entitled The OF Double Entry Book
keep.gsimphed. said to be used IN the puoo 'enoo" O
Delivered eur note 10 Henry Austen, at thirty days. in full
for balance Of account, for 81 300
Journal H. Austen, DR.
To Bills Payable Sl.5oo
Feidao. Austen debtor because he owes u.s. we hav'
ing paid amount that owed him. Bills payable are
creditor because the pote to which thai name gwen pa
Au,tes for therefore We owe IT
ob.ervc may appear absurd 10 10 that Austen,
In the above Transaction II rse, and
!. proved Before paid him We owed i'm Slow al
ter we paid him. he SOC, not then we s'i owe
sim; and as we do still him. he must owe Us that
an, mi. ard by nj. owing US the 800 which owed to
him aud az equaiy or the account between
Now Instead ofa this arccn which repeated with every
through book the following the plain
on tia, would be given once BY any oae &c
guam, with the principles Of the eger va Austin Or De
cause he has become accountable TO and bills able IS tr
because " have issued note .
Would any practical man suffer his son 10 discard all ration
i ,onry ,nl 6 his head with such quo
ed7 and Is It possible that public schools ar. teach.
ing ~ o.,,.a from a,,emp,. 10 .impl;ry = .cieue.
n, draIdne its principles; with as much reason ma we
r,s y rules 10 work engine and call u engineer
me AID equa ly would such attempt deserve
rsisue and contempt, The rule which this simPfeson
or rather my sti6c alton Is founded y /. ioliowsi
Whatever owes Us, y Debtor
Whatever we owe u Creditor.
Now all We can see here is definition Of the two words
Dr. and Cr and IL somewhat equivalent 10 telling Is MAT
Whatever owes us, owes vs.
and Whatever owe, We owe.
w, csnnnst thinking however that the cou let would
Justly appreciated when thus fairly Translated INTO ~
Pat al Drs in the DR.. columns,
And all Crs. In the CT column
II !, difficult discover what other meaning is deduoee
from The rule Upon the whole, author might ~ well hsvc
, make legsr by comparing all the debtors 20 all the Gre
sor. his students would then have appreciated their task
IA NAV be- objected that unfair example Of tee ordinary
az teaching has been chosen that the objections ad.
,.pced against anhor apply many Others IN tess de.
cree IA admitted this book selected example Of the
,,sme ab.urdit, which such principle will naturally
.ar,v man whose intellect too dull to l.. alarmed by tho
,,rsyasanee of his folly Where such rules 3D. founded
.. arbitrary word. absurdty mnst attend every attempt
,Ia;, Their apnlicaon aud n other astssrs fsrborne
nut ,ach flly in print they have left the pupil the task q
committing !, on his own accousl
Ths aaa.. suppose complete leger, that is, leg.r
presenting tive merchant y sold es o. business ~ which th'
pur. theory " most clearly cshbiled