Idaho semi-weekly world. [volume] (Idaho City, Idaho Territory) 1875-1908, 1889-11-22
BUSINESS REvERsEs.
An Old Boston Merchant Has Something
to Say About Them.

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 minut@ OF their transactions
that it is possible for a man who is
only doing small business. But
there is germ OF truth In the remark.
It 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
a 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
IL Is nevertheless true that the mer-
chant who has his sails we'll trimmed
often weathers an unexpected gale,
while the man who IL spreading too
much canvas goes TO the bottom.
1.-The methods in business life change
with each decade. Years ago a merchant
sold his goods on six months, and in a
large majority OF cases the notes wore
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 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 rcpnte can put out in this way
any quantity OF paper. This method
has Its advantages. but 1t 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 n few months for any reasonable
sum brings the money through note
broker in few hours The money
thus obtained. which comes so easily
Is apt to go quite ms quickly into out
side speculations. A run OF luck may
thus be secured. but II the tide turn.
and losses follow, the debt is there
while the assets are minus.
1t Is rarely that merchant or evel
n Spectator ever deliberately start
out to defraud his creditors. He GOO
on for months, under easy sail. in
dulging in borrowing to meet deficien
cics, without n thought OF being dis
honest When tho strait occurs h
adopts some new device to rails
money. and, without II suspicion tina
| Ht 10 duiiB ~ hibiioHtSt avn ttootbo u
acts that are criminal. When b
awakes from his fancied dream of Sc
curlty and secs where he has place
himself he seeks safety in flight O
suicide. Not one man In hundre
has the moral pluck to stand up IN
accept the penalty There is in tn
State prison to-day man who had
In his power TO leave the country, BIT
he refused to do so. He preferred
meet the obloquy attached to his act
rather than fee from justice. Thu
such man is morally bad Is imposs
bio. and. while we may deprecate h
methods, we can not but have ce
, tain amount OF respect for him. Bus
, ness mon having large responsibility,
I are too much inclined to ignore I'll
unpleasant episodes OF business lif
They have so many cares that to del,
, TO the bottom Of every complication
. something they leave to others
may be junior partner or con-
Dental clerk. Tho facility for di
! missing a disagreeable matter is laude
j. | ny iho uHlnlihiuR, put many VI VI
: failures In commercial circles may
justly attributed to this easy way
, placing burdens upon the shoulders
a less competent men. instead OF ma
: fully bearing them. by those who ma,
, the power to remedy the repetition
wrong method. The burdens OF
, large business offer this temptatio
= and tho tendency TO increase q
= amount of business that one firm
one corporation can cover is beeomir
;. n fruitful source of misapplied cuers
!, and consequent failure. A merchal
overtaxed docs not do himself justic
:, and for II business man To know h
= own Limitation and keep within Il
circle where he is sure OF himself AT
his resources is a gift which fort
nately many possess and which Il
: younger class OF merchants shou
" cultivate. Boston journal.
Keeping Accounts in Boots