Elmore bulletin. [volume] (Rocky Bar, Idaho) 1889-1906, 1889-12-14
BUSINESS RsvERsEs.


To say About Them.
''For many years" said an old mer-
chant recently. business men appear
to me to have less knowledge of their
own affairs than they once had. Pos
sib'y this Il true 10 certain extent
for men with large responsibilities on
their hands can not give that attention
TO the minute Of their transactions
that II Is possible for a man who IL
only doing small business But
there is a germ OF truth in the remark
IL Is no uncommon thing to hear the
remark that such and such firm had
no idea OF failing "a week before the
unfortunate event Most business men
are hopeful They expect TO tide over
n desperate pinch In one way or
another. But is this businessp The
careful navigator. when sailing In
smooth seas, Is no less mindful OF
storms and hidden reefs The happy
go-lucky man OF business is very apt
TO find shoals in most unexpected
places. That causes over which the
merchant had no control may ship
wreck his fortunes is true. Financial
panics come at times and bring mis-
fortune TO the most conservative. but
II IL nevertheless true that the mer-
chant who has his sails well trimmed
often weathers an unexpected gale,
while the man who Is spreading too
much canvas goes TO the bottom.
The methods In business life change
with each decade Years ago a merchant
sold his goods on six months. and In
large majority of cases the notes were
renewed for six months longer. inter
est being added. The banks discount
ed these notes. for they were based on
merchandise. and the superstition was
that the merchant would not sell his
wares 10 a person OF doubtful credit
The banks held what was in reality
business paper. This method has to a
certain extent passed away and single
name paper liz taken In place OF a sup
posed responsible buyer and equally
responsible seller. The larger buyers
now sell their notes and buy their
merchandise for cash. A house In
good repute can put out In this way
any quantity of paper. This method
has its advantages. but IL also has its
temptations. and one OF the most dan
gerous which arises from this system
rs the fatal facility with which money
Ii thus obtained bit OF time paper
or few months for any reasonable
sum brings the money through note
broker In a few hours. The money
thus obtained. which comes SO easily
Is apt to go quite AS quickly into out
side speculations. A run OF luck may
thus be secured. hut II the tide turns
and losses follow. the debt Is there.
while the assets are minus.
IL Is rarely that a merchant or even
specu ator ever deliberately starts
ont to defraud his creditors. He goes
on for months. under easy sail. In.
dulging In borrow ing to meet deficien.
cies. without a thought OF being dis
honest When the strait occurs he
adopts some new device 10 raise
money. and. without a suspicion that
he Is doing n dishonest act. resorts "a
acts that are criminal. When he
awases from his fancied dream OF Sc
curity and sees where he has placed
himself he seeks safety In flight or
suicide. Not one man In hundred
has the moral pluck to stand up and
accept the penalty. There Is in the
State prison to-day n man who had /,
In his power to leave the country, but
he refused to do so. He preferred "a
meet the obloquy attached TO his acts
rather than flee from Justice That
such man Is morally bad In impossi.
BILE. and. while we may deprecate his
methods, we can not but have GER
tain amount of respect for him. Bust
ness men having large responsibilities
are too much inclined to ignore the
unpleasant episodes of business life.
They have so many cares that to delvs
10 the bottom of every complication il
something they leave TO others-ii
may be junior partner or a conf
Dental clerk. The facility for dis.
missing n disagreeabse matter Is lauded
by the unthinking. but many of the
failures In commercial circles may be
justly attributed to this easy way oil
placing burdens upon the shoulders Of
less competent men. instead of man.
fully bearing them. by those who have
the power to remedy the repetition oI
n wrong method. The burdens of q
large business offer this temptation.
and the tendency to increase the
amount OF business that one firm OF
one corporation can cover Is becoming
fruitful source OF misapplied energy
and consequent failure. A merchant
overtaxed does not do himself justice.
and for business man TO know his
own limitation and keep within the
circle where he Is sure OF himself and
his resources il gift which fortu.
nately many possess-and which the
younger class of merchants should
cultivate. Boston Journal.