Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1874-01-12
NO. 10.
CLOSE THE ACCOUNTS.

we remember seeing some time ago the
following notice at the head fthc columns
OF one of our exchanges which still does
business on the credit system: 'sTo delin-
quent subscribers We don't want anv
money, but our creditors do, and so do
their creditors who for aught we know,
are our delinquent subscribers. Now you
pay US, and we will pay them, and they
will pay you and we will all get out Of
Now good many farmers do business
on credit, and necessarily, on long credits
They have running accounts at the store,
with the blacksmith, the wheelwright and
perhaps the butcher. Many Of them
haven't any idea upon which side the bal
ance stands with these men, but they ought
to find out right away. The credit system
IS bad one at best, it breeds mistakes,
disappoiniments and trouble all around,
and though with some it may be a neces-
sary evil, there can hardly be an excuse
for a farmers letting his accounts remain
unsettled year after year as some do. lie
should at least start the year with clean
books. In the fall he sells his surplus and
can meet his bills better than at any other
time, and during the present month he
can easily find time to look over his ac.
counts and settle them. He should 60 to
the store and square the bill there, which.
by the way, is sure to be about twice as
large as he expects-and then to the black
smith and all others with whom he has
open accounts, and close them. 1t is good
Tor mans pocket book to "look over"
the books frequently, even if he can do
nothing else. If he can't begin the new
year free from debt, he should at least
know to penny how much he owes and
have 1t in black and white. The .'long-
winded" customer, even if he is known to
be perfectly good, who lets his bills run
year after year without adjusting them
has to pay dearly for his egligence. Mer-
chants and mechanics may not dun him
for fear of losing his custom, but they want
their pay just as bad for all that ; and even
though they may frequently assure him
that it makes no difference, that they can
wait as well as not, and with bland smiles
keep tempting him to double up his four
year-old account by assuring him they are
in no hurry for their pay, still when they
make charge against such a man they
make it large enough SO they can afford to
watt they charge not only goods, but
risk and compound interest. Against such
customers their skies are all the other end
up-nines-and when at last such men
are forced to settlement, their accounts
are double or treble what they supposed,
for they not only pay dearly for what they
buy. but they buy more than they sup
pose. sfta
PAY as you go" is the best financial
motto ever invented, but if this is impos-
sible, pay as often as you can. Pay your
open accounts in some way. with cash or
produce if you have it, with your own
paper if you can't turn anything else. We
hike the old man who said he was bound
to get out of debt at the end of the year
even if he had to hire money to do it with;
he at least, when he had done it, knew
how much he owed and we say to all our
readers and especially to all our farmer
friends begin the year with clean books
N. II. farmer.