The Mason County journal. [volume] (Shelton, W.T.) 1886-1927, 1889-11-22
BUSINESS REvERSES.
An Old Boston Merchant Has Something
to Saw About Them.

6OSIN60S nGvGn0GSs
An Old Boston Merchant Has Something
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 is true to certain extent.
for men with large responsibilities on
their hands can not give that attention
to the minute of their transactions
that it is possible for man who is
only doing small business. But
there is a germ of truth in the remark.
1t is no uncommon thing to hear the
remark that such and such firm had
no idea of failing week before the
unfortunate event. Most business men
are hopeful. They expect to tide over
desperate pinch in one way or
another. But is this business? 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
it is 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 merchant
sold his goods on six months, and in a
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 supposition was
that the merchant would not sell his
wares to 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 is 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 it also has its
temptations, and one of the most dan
gerous which arises from this system
is the fatal facility with which money
is thus obtained. A bit of time paper
or a 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, but if the tide turns
and losses follow. the debt is there
while the assets are minus.
1t is rarely that a merchant or ever
SPECTATOR ever deliberately starts
out to defraud his creditors. He goe
on for months. under easy sail. in
dulging in borrowing to meet deficien
cies, without thought of being dis
honest. When the strait occurs h,
adopts some new device to rails
money. and. without suspicion tina
he is doing a dishonest act, resorts t.
acts that are criminal. When h,
awakes from his fancied dream of Sc
curity and sees where he has places
himself he seeks safety in flight o
suicide. Not one man in a hundre,
has the moral pluck to stand up AM
accept the penalty. There is in tn
State prison to-day a man who had
in his power to leave the country, bu
he refused to do so. He preferred t.
meet the obloquy attached to his act
rather than flee from Justice Tha
such man is morally bad is impossi
BILE. and. while we may deprecate hi
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 tn
unpleasant episodes of business life
| NV he''O oO AA1uy CdIOo Oud6 W UClV
to the bottom of every complication
something they leave to others
may be a junior partner or conf
Dental clerk. The facility for dis
missing disagreeable matter is laude
by the unthinking. but many of tn
failures in commercial circles NAV b
justly attributed to this easv wav a
placing burdens upon the shoulders @
less competent men, instead of man
fully bearing them. by those who hav
the power to remedy the repetition @
wrong method. The burdens of
large business offer this temptation
and the tendency to increase tn
amount of business that one firm O
one corporation can cover is becomin
fruitful source of misapplied energ
and consequent failure. A merchan
overtaxed does not do himself Justice
and for a business man to know hi
own Limitation and keep within tn
circle where he is sure of himself an
his resources is a gift which fortu
nately many possess-and which tn
younger class of merchants shout
cultivate. -Boston journal.