Evening star. [volume] (Washington, D.C.) 1854-1972, 1886-04-17
THE DEMON DEBT.
The Safe Rule for Bexinners I'm Life.

"A0 nule IOr BeE10nekD IN A1Ies
From the Philadelphia Record
One OF the most serious and insidious obsta-
cies In the way Of thrift, of ease of mind and of
true household comfort, is the running &C
count. doubtless the credit system originated
IN benevolent intention TO do good, and, in
us Wlder application it is necessary to carry on
the great commercial social and financial un-
oerIakings OF the world, but 1t is q great enemy
10 nome economy. 1t is the foundation for debt
ana all the distressing formula ofindebtedness,
ouns, notes OF hand, liens, mortgages and q
tnousand-and-one Of the miseries and incum-
t;n known to legal phraseology and prac-
tice winch are the bane Of life
JACK Falstaff, who got all the good out of the
cre9it system there was in it. declared: "If /
mao a thousand sons the first human principle
l would teach them should be to forswear their
Potatlons and addict themselves TO sack" But
JACK was the prince of scapegraces and only
division Of =. ths msH ct %
MN except he had difficulty in making them.
Al the writer had a thousand sons and daugh-
ters Inc nrst human principle she would teach
them would be never to establish o running
account. No one can live within his or her
inc; income who spends money in advance of earn
Ing 1t. Persons who live in this way, In fact,
never have any income; they have an Outgo
door.
The running account" however is more
dangerous tor the housewife, because she is
not usually either the wage-earner or the pay
wants on credit, because there Is no particular
trouble In getting it and without the apprecia-
t uon OF Inc trouble OF paying for it, which
grows outof the necessity for scraping the dol
lars together in whatever way the husband
comes I, Dy ms money, whether it be in swinging
weaXars sh1.ns ii hammer, In throwing
lasses or In guiding the handles of his plow.
she does the multifarious and never-ending
spread, the house tidy, the beds aired, and the
Dread weil-baked and nutritious, and 1t is not
at all to be wondered at that she thinks this lis
enough The mistake is in the beginning in
having things that are not paid for. The house,
keeper who spends only what money she has
to spend is not only relieved of the worry OF
debtor what worries the husband will worry
Tue GOOD w1fe-but she is made conscious
power IN the pay and provender department of
upon her husbands energies she is made to un-
derstand for herself the limitations of the fu nd
Wnicn sne draws upon and how much may be
paid out and how much laia up for emer-
gencies.
Young couples who start out by running in
aeot should remember that they cannot, in the
!Ong run, get an inch the start of the world in
that way. They can only live up to their earn
lngs after all is said and DONE By running an
olestlckmaker they give these several dealers
an opportunity to charge them high prices for
the1r purchases. The storekeeper who sells his
wares on credit is always obliged to make good
the accounts of his bad customers by taking
larger profits from those who get credit and pay.
BESIDES, IT Is rule, which acute business men
uhoCiStal1u, tlett luOuey IL WOTtu
ana Will usually fetch some rate of interest or
an equivalent sum by being frequently turned
over. Is it not tair to suppose that the shop
keeper looks to his credit customer to make
good the deficit in his bank account brought
ABOUT by the system OF running accounts?" On
the contrary, the buyer who buys for cash can
choose where she will buy, which is a great ad.
vantage, and she can buy for lower prices. The
cash price is always the lowest, and the cash
customer is always the preferred customer.
III TOO often happens that no check is kept
upon the running account. Settling-day is
always day OF surprise for the debtor, and big
store bills are a perpetual source OF family
broils and discomfort. People who pay "some
other day" nine times out orten carry the i'm
providence Of their getting into an improvi.
dence OF use. Those who are accustomed to
get without care use without stint
There is no rule in the world for large affairs
or small ones like the rule of "pay as you go.
II Is the foundation not only OF good finance
but OF good temper and good fortune as we'll.
ANA especially the housewife who is wise
enough to give the matter little serious
thought and determination enough to stand by
her convictions will need no monitor to warn
counts