The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1856-1888, 1857-08-27

WA 1T FOR That He FAuED1In our last,
says the Philadelphia Merchant, we took ground
that nine-tenths of the failures in the commercial
world are traceable to a want of the insolvent's
acquaintance with the details of business This
NAV appear to many an unwarrantable conclu-
sion, but to the intelligent business ma no argu-
ment need be addressed to convince him OF its
obviousness.
Fast living and extravagant family establish
ments, are the causes alleged by the superficial
reasoner, for the insolvent5s downfall but to the
observant business man these are only the super
inducing cause to a hasty disruption of the short
sighted insolvent's affairs. But few men start
business and fast living at the same time; and
most of that few have but a short-lived existence
in the credit market, and consequently do bat
little either good or harm in a commercial point
of view. Nor is the number great who, upon
entering business. erect princely establishments
for the expenditure of their own profits and their
creditors principal. Fast living and extrayagant
family OUTLAWS .'creep on apace" with the free
and easy habits of the merchant, who presumes
that he is doing well when he is doing a large
and extensive business. With large sales he
counts on large profits, and pauses not to reflect
upon his increasing expenditures and probable
augmentation of bad debts. Did he consult his
IS trial balance monthly, not merely to inform
himself whether or not his boCk-keeper had got
the credit side of the ledger to balance with the
debit side to the very cent, but with a view of
ascertaining the condition of every account, both
representative and personal, he would then see
not only the amount of his purchases and sales.
but who had paid and who had not, what
amount of notes had been taken up, and what
amount was necessary to provide for those ma
turing-how mis- expenses had augmented and
bad debts accumulated and the consideration of
these would suggest measures to be adopted for
the securement of claims of dubious or doubt
full character. And what is more, they would
suggest, besides many important details of a busi-
ness character, whether or not his business will
warrant the drain made upon it for family and
other expenses. If it will not, he can explain his
condition to his wife and family, who have an
equal interest with him in sustaining his reputa-
ton and standing, as an honorable business man.,
and they will join with him in all those retrench-
ments necessary to enable him to maintain a
proud position among his fellows, on the change
or in the mart.
There are none so sensitive to the blameles
standing of the merchant, as the " loved ones at
home, and there is no sacrifice they would not
make to sustain the high calling of the husband
and father.
He who acquaints himself with the duties of
his business, will guard its every interest, and, if
need be, will apprise his wife and family with
what it will allow for the necessaries and luxuries
of life; and his family will be content Herewith.
He is not a good business man who keeps his
wife and family in ignorance of his ability to
indulge their fancied requirements.