The Toledo chronicle. [volume] (Toledo, Tama County, Iowa) 1873-1924, 1878-02-14
Business Prudence.

tribute success or failure, particularly
the latter, to luck or hard times. The
times and surrounding circumstances
of life may have large influence, but
it is not reasonable to suppose they are
controlling influences. The failure of
crop, or the burning of a barn or
store-house, are losses to which any
person or people are liable. But few
persons get through life without losses.
They come to successful men as well as
to those who are the reverse. In many
cases they call out better energies, and
are blessings in disguise. Financial re-
verses were the making of such men as
Sir Walter Scott, DR.. John Mason
Good, and host of others. tits more
reasonable to suppose that much of the
success or failure of everyone is to be
found in the habits and management of
the persons themselves. Among the
things that do most to injure those of
industrious habits who might get along
well in life but for unwise practices,
perhaps the desire to use money before
it is earned, OF as soon as it is earned,
is most general. 1t is quite the habit
of young men going into business to
think all the money that chances to pass
through their hands is theirs. As soon
as trade of few thousands year is
started, the idea seems to possess them
that they can buy farm, or lot, or
build a house or store. Their wives
may encourage such ideas and no doubt
often do. Thus early in their lives they
contract obligations that might proper
lxY ha od lat 1,,%
coming as early as they do, they be-
come a burden that hangs like mill
stone about their business, and when
outside pressure comes, they become
discouraged fail.
No person should rent build
house or store that may not be proper
ly equipped and maintained without in
jury to his business. Better spend
few more years of simple and inexpen-
sive living, till the accumulations of
business will warrant the expenditure,
and till it can be done without curtail-
ment of business or delay in paying
current debts. Every person should
desire home. Every man should take
pleasure in making his family comfort
able and happy, but to mortgage the
future and cripple business, and, per-
haps, worse still, make forced loans on
credit ors to add luxuries and elegan-
cies, is criminal folly. We fear many
are not guiltle8 in this respect These
ideas may not suit many who wish to
step to the top of the ladder at few
strides. 1t may have been reached by
such efforts, but the cases are rare in
deed; while the failures may be counted
by thousands. They who take the
straight plodding way and follow it
steadily, carefully and faithfully, will
almost surely gain the comforts of
good home and a competent capital for
a successful and legitimate business.
In this connection we ask attention
to the following from New York
paper, which happily illustrates the
idea we wish to impress:
"John Q. Jones died at his residence
on New Years night, aged seventy-four
years. He made the Chemical Bank,
of this city, what it is, viz, an institu-
ton that has surplus of $1,000, 900,
that pays 100 per cent dividends every
year to its stockholders, and each share
of stock of 800 worth ST. 900 to 1900.
HOW ulu he uo IHlS! SIMPLY Dy econ
omy and careful attention to the way
the funds of the bank were invested,
adding something to the surplus every
year; he did not approve of the modern
way of doing business, of spending
money before it is earned. The result
of his simple policy of earning and saw
ing is the enviable position of the Chem
ical Bank, of this city, of which all
New Workers feel proud. Mr.. Jones
was a quiet, unassuming man, pos
sessed of great force of character; he
attended strictly to his own business,
and did not try to interfere with the af-
fairs of others. His life is an encour-
aging lesson to careful, plodding, saw
ing men; for the result of his prudent
and consistent policy has been long,
peaceful, honored career, while his
death is mourned by thousands who
never personally knew him.
Every business needs accretions, and
they should be frequent, if not constant
Money should be made, and part of
it retained in business. With more
capital and more prudence, the proba-
bility of failure would lessen and the
chances of success largely Increase
G,.oce,.a, C,ifeo.,o,1