The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1889-08-15
RuaineRs Reyerses.

"For many years." said an old mer-
chant recently, business men appear to
me to have less and less knowledge of
their own affairs than they once had. )"
Possibly this is true to certain extent,
for men with large responsibilities on
their hands cannot give that attention to
the minutiR of their transactions that it
is possible for a man who is only doing
a small business. But there Is germ of
truth in the remark. 1t is no uncommon
thing to hear the remark that such and
such a firm had no idea of failing week
before the unfortunate event. Most bus
mess men are hopeful. They expect to
tide over a desperate pinch in one way
or another. But is this business The
careful navigator, when sailing In smooth
seas, is not 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 shpwreck his fortunes is true.
Financial panics come at times and
bring misfortune to the most conserva-
tive, but it is nevertheless true that the
merchant who has his sails we'll trimmed
often weathers an unexpected gale, while
the man who is spreading too much can
vas goes to the bottom,
The methods in business life change
with each decade. Years ago a mer-
chant sold his goods on six months, and
and in large majority of cases the notes
were renewed for six months longer,
interest being added. The banks dis
counted these notes, for they were based
on merchandise, and the supposition
was that the merchant would not sell
his wares to person of doubtful credit.
The banks held what was in reality BUSH
ness paper. This method has to a GER
tain extent passed away and single name
paper is taken in place of supposed re-
sponsible buyer and an equally respon-
sible 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 6ny quantity OF
paper. This method has its advantages,
but it also has Its temptations, and one
of the most dangerous which arises from
this system is the fatal facility with
which money is thus obtained. A 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
outside speculations. A run of luck
may thus be secured, but if the tide
turns and losses follow, the debt Is there,
while the assets are minus,
1t is rarely that merchant or even a
speculator ever deliberately starts out to
defraud his creditors. He goes on for
months, under easy sail, indulging in
| l. 70 1nEninnDiao xuif
thought of being dishonest, When
the strait occurs he adopts some new
device to raise money, and, without, a
suspicion that he is doing a dishonest
act, resorts to acts that are criminal.
When he awakes from his fancied dream
of security and sees where he has placed
himself he seeks safety in flight or sui
eide. Not one man in hundred has the
moral pluck to stand up and accept the
penalty. There is in the State Prison
to-day a man who had it in his power
to leave the country, but he refused to
do so. He preferred to meet the obloquy
attached to his acts rather than flee from
Justice, That such a man is morally
bad is impossible and while we may dep
recate his methods, we cannot but have
certain amount of respect for him.
Business men having large responsible
ties are too much inclined to ignore the
unpleasant episodes of business life.
They have so many cares that to delve
to the bottom of every complication is
something they leave TO others-!t may
be junior partner or confidential clerk,
The facility for dsmising disagTeeab' e
matter Is lauded by the unthinking, but
many of the failures in commercial cir
cles may be justly attributed to this easy
way of placing burdens uponthe should.
ers of less competent men, instead OF
manfully bearing them, by those who
have the power to remedy the repetition
of wrong method. The burdens of a
large business offer this temptation, and
the tendency to increase the amount OF
business that one firm or one corporation
can cover is becoming a fruitful source
of misapplied energy and consequent
failure. A merchant overtaxed does
not do himself justice, and for business
man to know his own limitations and
keep within the circles where is sure OF
himself and his resources is gift which
fortunately many poser and when
the younger class of merchants should
cultivate. Boston Journal.