The daily intelligencer. [volume] (Seattle, Wash. Territory [i.e. Wash.]) 1876-1881, 1876-10-16
County and City Official Press
Monday, October l6, 1879.
THE GOLDEN RULE
BUSINE SS.

~ 81 " AB s&1hAsss that h1"
depaatarc" In business method Is pro- /
posed in California 10 ia 10 do away !
with the credit systcm in its present |
form. 10y tue dealer taking his custom
ers, note on interest and lending him the
amount Of money he requires to make
his purchases with cash until such time
- ho eau realize bis expected returns
for PRODUCE or equivalents. This. il
IS thought. will b. an improvement on
the existing system OF indefinite and in
discriminate credits. and will be On al.
vance step toward the scientific preci-
SION and certainty that should charac-
.erizc the business IL civilized and
Christian people.
II j., however, considered doubtful
y hether the innovation can be- carried
out II would probably involve greater
contraction all .. onca than business
could stand. But that such thing should
bc agitated is a hin, tina, business men
find the prcsen. method. oneroas. sloven-
ly and wasteful And this waste in tho
end falls not upon tho traders they can
not take any risks in their business
without bankruptcy soon or lste-but
upon the hard working producers. II
Is not merely the amount Of outright
losses through irresponsible parties who
blk their creditors. but the expense
and Inconvenience entailed by delay.
interest on absorbed capital. disappoins-
meut and Insecurity. Nevertheless,
there is no necessity for any radical re-
form in the MATERIAL that is needed
IS little care and conscience on the
part of the people who transact bust
ness a. a community And there is
need of both care and conscience in or
der TO meet all ones pecuniary liabili.
ties always promptly on demand
There il no one who does not like 10
get his pay promptly for work ar other
considerations on Saturday night. or At
the end Of the month or quarter or
whenever IL he. that it comes due
But it Is poor rule that will not
work both ways" or as the golden rule
states il, " Do unto others as yc would
they shosfld d. unto you The mer-
chant and other business men ike Ia
get their dues punctualiy as we'll rs
others, A. general principle no
debt ought 10 he incurred unless there
IA reasonable certainty Of ability to
pay when fairly due Still. tho vicissi-
tudcs Of human affair. prevent abso.
lutte panelual,ty IN all instances. hu, it
is incumbent upon all in sels interest
10 make al effort 10 me.t their obliga-
lions with promptneSs AMI regularity
There can be IN greater inoubos upon
community's prosperity than a general
financial slowncss on the part Of its
cstlEans The most damaging argu-
men, sha, has been brought against
Christianity is that many Of the men,
beers Of its various churches are slack In
meeting their pecunisry obligations "A
habit that il not in accord with the
teachings OF the Bible, which says Owe
no man anything" by their fruits
W shalt know them" when one man
fails 10 come 20 time. his creditor who
was depending upon him, is likewise
disabled 10 meet his engagements. and
hss creditors again arc possibly thrown
out in their calculations, ~ the wave OF
Inconvenience rolls Oh, widening in its
mischievous effects - illustrating the
law how single individual may bc -
heaven in . community for good or
evil.
Nearly every commercial community
has some day fixed by time honored
usage, for making periodical settle
ments Ii all soquiesoe in such an ar.
raugemens, and make their payments
At the expected time. the machinery ~
business is facilitated and enabled 10
run with precision. The observance OF
such customary periods for meeting f.
nancial obligations with promp,ne.s
and regularity Is not less important, IN
is way than the observance of the
Christian sabbath IL the system
csuli tx established With the force Il
.nsarmo0nsable president Of ~c,,lias
when transactions are made with cash.
~ notes IS good IS cash. Instead Of let
ting the settlements drag for months
OF year. IL would have tho practical sf-
feet 10 iussan,aneoasly INCREASE the bus
lne~s capital OF the country BY . hc~vy
perceatage aud add eorresponiingly "a
all kinds Of values, besides eheapeninS
every Kind Ut goods. and advancing the
profits on productions
GY The bsEkentine W. III. GA~lsy