Weekly journal-miner., 1915-12-08
THE RIGHT WAY TO
 ESTABLISH A CREDIT
You and Your Credit

livery HldN SHOull pc JcdlOuS Ol two things; his good name and his credit A good name helps his credit and good credit helps a good name. He should value his reputation as his choicest possession, and he should guard his credit equally as well, if not better than he guards his money. He can protect his good name by keep ing good company, avoiding question: able places and bad habits in general. His name is what he chooses to make it. He can build up and protect his credit by one course-borrowing and paying as he agrees-buying on time and paying on time.
 The greatest force in the business world is credit-the power to borrow; to get trusted; to obtain the property of another to use as our own on a mere promise 10 pay. Credit" says Webster, has done more a thousand times to enrich the nations than all the mines in the world" Credit spans rivers, opens mines, builds railroads, moves commerce and wages war. Our whole business structure rest upon 1t. For every extension of credit there must be debt, and there can be no credit where there is no debt
 Debt is not dishonorable; the abuse of credit is. The man who runs in debt. is not a business offcast, but a sensible man-provided he uses his credit aright. There are some forms of debt to be encouraged; there are others to be avoided. To buy house with a mortgage on it is commend able; but to buy an automobile from the proceeds of a mortgage of your house ought to be disgrace. To run a grocery bill is no crime; to fail to pay as you agree ought to be. To furnish your house on the installment plan may be the best thing you ever did-some people could not have a home any other way; but to buy clothes on a dollar week install ment plan is financial suicide.
 Strange as it may seem, those who have operated on the pay-as-you-go-or -don't-go-plan find it difficult when they must ask for credit The trouble is, they have done nothing to estab- lisn their credit. This is particularly true in large cities where ones habits are not well known, but in small places a reputation as a cash customer soon gets to be common property. At any rate it is a good plan to deal on credit for the sake of the time when you may need accomoda- ton.
 One of the best known public ac- countants in New York states that early in life he saw the time coming when he would need to borrow, and concluded to establish his credit be- forehand. He knew that if he borrow ed and paid promptly, he would soon have good credit, and six per cent. for credit is cheap. And so ne open cd a bank account, got in favor with ais banker, borrowed but paid punct- ually- until he was well regarded as a credit risk.
 The time came when he needed money to finance his undertakings, and he found no trouble in getting what he wanted, because he had es- tablished himself as safe borrower.
 Guard your credit as you guard your health. It will always be a good friend to you and never desert you. Borrow when you must, but pay as you agree-there is no other way. Make your word as good as your bond. Treat your debts as sac red obligations. Don't "welcn" on your business transactions. Play the man. Don't let the lender do all the worrying over the debt, do some your self. Don't let go at that. but worry to a certain result. Don't think for a moment your creditor has forgot ten your debt, no matter how old we mover forget such things.
 When you must borrow, do not go to your friends, but find some organ ized agency (they exist in every large city) that makes lending business. I: your proposition is good, and you can qualify, you can get your loan, and it will be cold business proposition, satisfactory to both.
 Next to good bank account, good credit is your best friend. Guard it as such.
 American Bankers Association. TTSE OF