The Providence news. (Providence [R.I.]) 1891-1906, 1897-05-21
SERIES NO. !.
BUSINESS METHODS.
EDITED BY
HON. EDWARD WEMPLE,
Ex- Comptroller OF the State Of New York.
(CoPYRIGHrED. 1887. ny JASON RooERs)
LESSON NO. /.
How to study the Lessons.

How to study the Lessons.
Carefully read over and consider every
paragraph and point presented in each
lesson.
Talk over and discuss with friends and
acquaintances the various subjects pre-
sented.
If possible the person who desires TO
secure practical business education
should get some friend To study the les
sons with him.
II the lessons are made the subject OF
discussion around the family table after
the lights are lit every member OF the
household will be benefited.
An interchange of ideas and discussions
are always highly advantageous.
Apply the principles as developed ana
explained TO your own life and minor
transactions. Each point. briefly outlined
in early lessons, will be carefully analyzed
in subsequent lessons.
WHAT BUSINESS Il.
Business embraces so vast field of
human interests that ii is subject OF
almost vital importance To all.
The term business, while more strictly
applied To mercantile transactions, reaches
also the interests of general affairs.
The present age may be correctly
termed the Era Of Business.
Instead of wars which render military
science the necessary study OF mankind
the world is today engaged in struggle
of figures, trade and commerce.
Business in its wide SENSE can never be
too thoroughly understood by both young
and old.
Business has developed as method of
exchange of all commodities and things
between individuals and nations.
INTRODUCTION OF BUSINESS.
The first way in which business trans.
actions commenced was probably that OF
simple exchange by barter.
Barter means the exchange OF service
for service, commodity for commodity, or
service for commodity, without the ques-
tion of price.
Money subsequently became the me
dunn Of exchange between persons. states
and nations, and a standard by which all
values oan be readily determined.
Then was commenced the operation of
buying and selling.
Buying and selling is further develop
ment of the orig inal method of exchange,
barter.
1t brought about more complicated
methods of transfer and led 60 a larger
and wider exchange of commodities be-
tween persons and nations thereby I'M
proving and advancing the civilization of
the world.
TIE use of money led people to think
about cost and selling prices To study
them and try to make profit out Of ex-
changes and business transactions.
The use of money likewise rendered il
necessary that some sort of record of bust
ness transactions be adopted and the OPP
erations brought TO systematic basis
Business, therefore, commences with
the production or purchase of material
and ends only with the operation of sell
ing or trading the same for money or its
equivalent.
The essential and first aim of business
Is gain or profit.
.,.s,, - l. -4,N..
sltates the buying, producing or manu-
facture at the lowest possible cost and
selling at as high a price as can be OBJ
tanned.
FXAMTLEs.
If the wholesale price Of sugar is four
cents pound and the retail price is six
cents every POSSIBLE deduction you can
get off the cost price TO you will he ad-
ditional profit.
The man who, by his knowledge of the
market can buy cheaper than "a competitor,
can with profit sell his goods at price
so close TO their cost price to his competi-
tor as to draw away his trade and rum his
business
ACCOUNTS.
In order that person may have some
intelligible record of business transactions
covering "a short or long period of time
he must keep accounts.
These accounts may embrace anything
from a mere memorandum on "a hlottcr
or common blank book TO n complicated
system Of bookkeeping involving the use
of many subsidiary or auxiliary books.
Before going into further analysis of
the science of business, 10 Is best that the
reader he shown the simplest practical
form of keeping an account in order To !
better understand the development of !
business
No matter how small may be the first |
business venture npon which person !
euters. u Is necessary To go about 10 in a !
systematic way.
The small retail storo presents us with !
an example of tho simplest form of bust !
ness, except perhaps, that Of "a peddlor !!
or canyasser.
10 keep the accounts Of such n business |
the use Of no complicated or elaborate /
system Of bookkeeping Is necessary. for |
the proprietor usually combines in him |
self the offices uf buyer salesman, book |
keeper and cashier and usually sells for |
cash.
SIMPLE BOOKKsEPING.
The simplest form Of bookkeeping. aud |
one that will meet the requirements q n |
very email business enisrpriss. involving |
on y ctsh transactions, may h. Briefly de- |
srribed mem, iums written in % |