Gold Hill daily news. [volume] (Gold Hill, N.T. [Nev.]) 1863-1882, 1870-04-09
CORRECT TRADE AND BUSINESS.

kaN "AA ~
one to limit the extent of his transac-
tons to the bounds Of his own ready
money capital, the check that would
be thus laid upon the productiveness
of industry, and the exchanges of ma
'tions, would be almost fatal to COM
nlerce. The resources Of the mine
would rest undevelopcd for the lack OF
that wealth which would, in other
places, accumulate to no purpose, and
the thirsty spots ofsociety would never
be refreshed by the flow of capital
which now fertilizes them. On the
other hand, the insidious nature of
borrowing is such that few are able to
limit its practice within bounds. The
evils Of the indiscriminate or lavish
use Of another's capital are patent to
every one acquainted with commercial
pursuits, and widespread in the sor-
row and ruin they often create. 1t is
in prescribing the proper limits that
opinions differ. In the ethics of bust
ness, there are two standards, essen
TALLY distinct in their nature, yet fire.
quently COMPOUNDED. One of these is
the mutual understanding and expec-
tations of men /; the other the secret
and more rigid tribunal Of the inner
heart. Those who reach the former
standard, who fulfil engagements rs
they fall due, and who outwardly
maintain reputation for honorable
conduct, are exempt from the censure
Of their fellow men. No IN may look
into %another's heart, and see what are
its possibilities, or how far its secret
insights into goodness ought to elevate
the outward conduct. All that So
ciety can demand of the individual is
that his external actions shall conform
to her standard Of right. She can only
deal with results which are visible,
never with causes and motives which
are hidden. But when the individual
subjects himself to no higher tribunal
than that of public opinion, he will
generally fail to satisfy ever that. He
who is more anxious to c a good
reputation than q good character, is in
imminent danger of losing both. For
only by purifying the source of the
stream can We sweeten its waters; and
only by fulfilling the obligations of
conscience can We permanently satisfy
the demands of society. 1t is the spirit
of mind which determines to secure
ones self from the danger Of injuring
others that is so much needed to pre-
serve commercial integrity. The
scruple that prevents 4 man from &C
cepting as a trust mor than he has to
give in pledge is both safe and wise.
and 1t is the breaking through these
restraints, and doing business OIL a rep
utation that lie knows to be wholly or
partly fictitious, that is the cause OF
most of the insolvencies that bring
such distress upon communities. The
abundance Of capital will always be a
blessing as long as this rule is observed
but when it tempts the man who has
nothing to borrow much, it may well
be doubted if it be not q curse. 1t is
not sufficient to have the will to fulfill
assumed trusts : it is also essential to
be conscious of the power to discharge
them. And into this sphere of mental
deliberations, public opinion and social
expectations cannot enter. Each one
must decide for himself, not only what
he hopes to be able to accomplish, but
what he knows he can certainly per-
form. When he undertakes more than
this he sacrifices his secret honor, and
can no longer respect himself. Every
honorable man in commercial life will
make it a matter Of first Importance
to fix the limits of his transactions
according to his known means; and
having decided conscientiously where
they lie, he will forfeit any prospective
advantage sooner than ~overstep them.
Only by firmly adhering to this prin-
ciple can the natural appetite for ex-
pansion be held within limits. This
desire Is at first healthy, and necessary
to vitalize commercial life; but I'M
controlled it grows ~voracious, and
consumes whatever It can reach, COM
ing at length to the same level as the
passion for gambling. For the great
foundation Of all honorable commerce
Is the mutual advantage that Is insep-
arabic from 1t, while in all gaming
mutual benefit IS impossible, the gain
Of one being the loss Of another. BY
this test may We distinguish between
honorable business and discreditable
cupidity. Where the quick venture Is
preferred to sure toll, where specu-
lations in ~precarious values take the
| place of real transactions in material
exchanges, and where liabilities are
recklessly incurred without al ade-
quate base to warrant them, there
commerce is losing her true aud hon
orable character, and descending to
the moral tone Of the gaming table or
the betting room. 1t Is true that the
temptations to swerve from so strict n
principle are numerous and powerful.
In large dealings, which are more
often conducted with names OH paper
than with tangible persons, a greater
conscientiousness Is needed ; and in
the intricacies Of complicated details
the moral sense is apt to become con-
fused and lose its accuracy Of vision.
The rapidity of modern business, too,
and the frequent necessity for instanta-
neous decisions, demand q clearness OF
Judgment and a firmness, of principles
that can only result from a life devoted
to duty. There is a standard Of eternal