National Republican., 1883-07-12
Proceedings Of the Second Days Session Of
the Convention.
Interesting Papers Read Upon Practical
Business Educational Subjects,
Some Interesting Anecdotes About the Twin Brothers,
H. O. and H, A. Spencer
The Convention Visits Mount Vernon To-
DRy-Othcr Exercises 10 Take Place.

cerian Business college. The proceedings
were opened by Prof. Pierce, of Iowa, who
delivered an interesting talk on penmanship,
and illustrated his methods of teaching.
Special attention was given to the art Of
rapid writing and the quick use of figures,
showing his own average in writing figures
to be 100 ciphers to the minute, 142 skies, 12O
fours, 140 oights, 30 fives 80 threes, los mines,
90 twos, and so sevens. He also illustrated
the ability of the trained mind to write down
figures accurately while thinking or talking
on another subject.
Prof. S. s. Packard said that during his
experience he had never known q person to
make good figures who was not good writer.
An interesting discussion followed partiCi-
pated in by Prots. G. f.. Cady, H. G. Spencer,
Frank Goodman, and G.. w. Michaels
A short talk on business writing was made
by Prof q. w. Brown, of Jacksonville, ILL.,,
and the speaker created something of SEN
sation by the statement that he was better
teacher because he was not first-clasS per-
man. Various members controyerted this po-
sition with considerable earnestness and Mr..
Brown acknowledged that he was probably
wrong.
The regular session of the convention was
opened by Mr.. Robert c. Spencer, who read
paper entitled Property and Progress" an
W. II. Sadler delivered an interesting lee
ture on arithmetic, evolving some new ideas
concerning the science and ready use of num-
bers.
An important feature of the days proceed
ngs was the reading by Mr.. Robert G. Spen-
Ger of paper entitled 1.-The Fundamental
Theory of Accounts" by Charles T. Sprageu,
secretary of the Dime Savings institute, of
New York. The writer said that two words
have been used TO express the two oppo5-
ing poles of value; like many other words,
they have been powerful in shaping ideas
and in many instances they have misled
thought. One word is as good as another
for practical purposes, provided only its
meaning is absolutely fixed. But there can
he no greater obstacle to reasoning
than a word which has two meanings.
The words referred to are debit and
credit" These poor creatures have
been decidedly overworked and it is
time they were allowed las even business
educators are) q season of rest. They have
an original meaning which is clear and we'll
settled. If l am under compulsion to do
something, especially to part with something,
/ am in debt, am debtor, / owe and the
person for whose benefit this right of COM
pulson exists is the creditor, or the truster.
This is the legitimate meaning of the words.
But in the science of bookkeeping these
words have unfortunately received II wider
sense which is not at all implied in their orig
inal, genealogical meaning. Debit is one
of the many phases of the polarity / Just
spoke of, which divides the universe of value
into two equal halves, and Credit is its COR
relative. Hence we have unfortunately,
think stretched these terms to mean the
whole divisions to which they respectively
belong. To speak of debit in q cash transac-
tion is absurd, unless we utterly suppress the
original meaning of the word debit and
forget that it ever meant to owe. So soon rs
we allow this original meaning of owing to
tinge our thoughts they become darkened
and muddy. No clear thinking can be car
1ied on with term used in two senses.
After an analytical discussion of the equa-
tion of accounts, Mr.. Sprague concluded as
follows:
We have now to consider the recording of
changes in or among these values. There
can be no change not eXpressible as increase
or decrease, more or less. Now, as each &C.
count has its initial entry on particular
side, let any increase of that kind Of value
be entered beneath, and let any decrease Of
value be entered on the other or vacant side.
Then in an account denOting resources the left
hand side will indicate increase, the right
hand side decrease; in all account represent
ing liability or propriotorship the reverse is
true and the right side is more, the left side
less. Then we have rational definition of
debts and credits, as follows
1. Increase of some resource.
9. Decrease of some liability.
3. Decrease of proprietorship or wealth
which it is depends solely on. the class To
which the account belongs.
A credit or entry on the right hand side of
any account means
/. Increase of some liability.
.. Increase of proprietorship or wealth.
>. Decrease of some resource.
And which of these interpretations is ap-
plicable must be determined from the nature
OF tho account.
Thus we have six elements in the transac-
tion as we had three in the balance sheet.
An examination of very few transactions
will convince the learner that every transac-
tion requires an equal amount of value on
each side; for if resources be increased in
one part, without diminishing some other
part, or incurring additional liability, it is
at once seen that this gratuitouS increase of
property is accompanied by a corresponding
increase of proprictorship or gain.
This then would be my platform:
l. The balance sheet is an equation of three
elements-resources liabilities, and pro-
prietorship.
2. Increase and decrease of each of these
three make six elements, and every transac-
ton Is an equation containing at lesst two of
them
3. The ledger is n series of inequalities,
which, combined, form an equation.
A. All these equations are subject to the
laws; If equals be added to equals or if equals
be substracted from equals, the results will
be equal.
On the conclusion of the reading resolu-
tion of thanks to the author was offered and
unanimously adopted.
An intermission of one hour aud half was
taken at noon.
On the opening of the afternoon session Mr.
William S. Auchincloss Of Philadelphia, pro-
duced his noted averaging machine" and
explained it to the convention. The machine
was designed to lessen the labor of calcula'
tion. The necessities of modern science have
SO increased the mathematiciau's work that
il is no longer possible for busy man tc
spend the time required for performing the
long series of similar calculations which fre-
quently become necessary. The machine il
designed to perform intricate mathematical
problems without mental labor, and the illus
tration of the methods by which it is operated
was greeted with enthusiasm by the conven'
tion. A committee appointed to test il thor
Uughly subsequently reported that the aver
aging machine accomplishes all that is
claimed for it.
Mrs. Sarah A. Spencer delivered practical
lesson on the use of words and the formation
of prases, clauses, and sentences, with black.
board illustrations. A rising vote of thanks
was rendered the lady.
Mr.. Il. G. Townsend, professor of elocution
in tho Spencerian college, delivered an ad'
dress on the practical uses of elocution in the
business affairs of the world.
Prof Packard controyerted the views OF
Mr. Townsend, and put small value on pre-
Vailing systems of teaching elocution,
ii. G. Spencer objected to Prof Packard's
method of treating the subject under con-