The Dispatch. [volume] (Provo City, Utah) 1891-1895, 1891-05-20
IhG Brightest Paper in this Section.
VEAL AND WOE IN BUSINESS.
Corresponding Of TnE DIspArcn:l

l L
Why is it that so many people are in
debt? Is it AN impossibility for the
people in Utah to pay as they got
We do not believe it really necessary
tor the majority of the people in this
Territory to live beyond their means.
People very often go into debt simply
because they can borrow, and never
think about the day when they shall
meet these debts, paying more for
the things they borrow than if they
bad paid for them the time they got
them. We notice II at the chief cause
of the failure Of DUNN Il Co. was on
account Of the people borrowing from
that firm, and not paying, SO that no
money could be collected from the
| debtors. There is no doubt that
| thousands of dollars worth of goods
had been delivered by this firm 10 their
customers, at thelT own request, pos
sibly much Of which they could easily
have done without. This going into
debt without grave necessity is a
very perniciOuS habit. To borrow
simple means to get permission from
the lawful owner, to use his property,
during a specified time or otherwise.
! The property borrowed does not, in
the proper sense of the word, belong 10
the debtor; he has only the sanction
of the proper owner to use it just so
long. and no longer; but if no speci-
| fed time Is agreed on, 1t is generally
understood 10 be due on deman -
in other words, to be returned TO the
owner where and whenever he c.,
for it. To explain more fully: a l.
rows horse for month from b, anu
promises to return it at the end of
that month. which, however, he fails
to dc. B goes to see about it and A
refuses to deliver the horse, making
several excuses. What b would DO
under such circumstances, needs no
explanation. If the horse had been
sold by the borrower, would it not be
stealing? At least it would be "A
breach of trust. If the horse had
! either died, OF been lost due, to una
| Yoidable circumstances, 4 would have
TO pay for the horse if lie possibly
| could. Same with all borrowed prop
erty. If one cannot pay his debts,
and he is not in any way responsible
| for this inability, then it is not 10 be
! regarded aS dishonesty. But at The
same time, let it be understood that
no person being in debt has right to
! use The means or property he may earn
until his Obligations are paid, for
amy purpose except for the necessary
maintainence OF himself, and those
dependant on him.
Money III all its forms is simply a
representation of wealth. Whether it
be government or national bank
notes, checks, drafts OF orders, and
Al
circulating medium only, practically
all are orders, and in all cases some
KIND OF property is supposed to be be-
hind it. Gold on silver is not OF any
real value 20 the subsistence of life.
except as an exchanging medium. 1t
l. not suitable material for the con-
struction of buildings, railroads. ships.
machinery, OF anything else. Iron.
copper, and wood, are better fit for
That. but through long usage and
custom. gold and silver have, as crcll-
lating mediums and representations
OF wealth, become indispensable To
tie human family; but for all of that.
it is d well known fact, that gold or
silver is very unhandy for those pur
poses. Government and national
bank notes, checks. drafts and orders.
are much handler.
Most Of the stock yards business is
done with cashiers checks. By that
means IA large mass OF business may
be done with less capital. a day OF
two of time is gained. Drafts are eX-
tenslyey used TO increase the time be-
tween deposit and payment Tie in
terent on Sl2O0 Tor day at SIX per
cent Is -. Winch is worth saving. On
the mass Of the floating currency If
kept in the form of checks and drafts,
the gain in the aggregate would be
Tremendous. The great stream of
money is increased by the free use of
checks. The individual deposits make
many small streams, that swell the
great ocean of currency at the money
centers.
Every person earning money should !
have bank account, and all money |
earned Should be deposited as soon as |
received Many a little makes a |
much, =" therefore the small deposits are
necessary. All helps. A person who |
has bank account should never pay
but checks; the bank should have the |
Thus the individual deposits |
will help the hank and the bank will |
help the community.
There are many advantages in kee p |
ing bank account. 1t helps to de- |
yelop correct business habits. Every |
check given is at the time receipt |
Hence, if paid out in checks, it would |
be easy TO know where the money
goes to; and, besides, many needless |
would not be made, we
checks given in payment. If the peo-
pie expended all their money through
banks they would have more con-
idence in banks, and the banks more
confidence in the people. And The
people could get loan easier. Most /
people need loans now and then. These
lie banks could and would more
eadily grant if all the peoples money
was paid through their Institutions.
When the farmers sell their
produce for money, they should
,ut all the money in the
banks If they used the banks more
hey would not need tn sell at "A gwen
ime, often at sacrifice. \ n,.te Tor
lXty or ninety days cpuld raise tue
money at the bank and lile tn, IN over
payment, and until the market was
PETER. The great Strinctucy in money
5 caused by the farmers 30 ding lie
market. chiefly III the fan Bet er pay
few dollars, int est dian that IN
ntumnal food should boa Z VII HE
,riceS. Produce sold 1T odd times
sually brings the best pric s.
Again, if people would take c'.echs
u payment, the mass Of currency
would NOT be rushed q ross e corn
ny every year to move lie crops.
IN several parts of Utah, produce,
instead Of being sold for cash, is
imply exchanged tor goods in the
torres, while in many instances The
wages paid is i'll the form of a due bill