Evening journal., 1915-12-08
TALKS ON THRIFT
YOU AND YOUR CREDIT

Every man should be jealous Of two
s things: his good name and his
credit A good name helps mis- credit
and good credit helps 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 lie
can protect his good Lame by keeping
good company, avoiding questionable
places and bad habits in general. His
name is what he chooses TO make IL,
He can build up and protect his credit
by one borrowing and paying
as he agreos-buying on time and pay
ing on time.
The greatest force in the business
world is credit--the power to borrow;
r. get trusted; to obtain the property
OF another to use as our own on
mere promise 10 pay. Credit says
Webster, has done more a thousand
times to enrich the natio..s than all
the mines in the world Credit
spans rivers, opens mines, builds rail-
roadl, moves commerce and wages
war Our whole business structure
rests upon It For every extension Of
credit there must be a debt, and there
can be no credit where there is no
debt
Debt is not dishonorahle; the abuse
of credit Is. The man who runs in
2 debt is not a business offcast but a
sensible man--provided he uses his
credit Alright There are some forms
of debt 70 be encouraged there are
others TO be avoided. To buy house
with mortgage on IL is commend
able; but to buy an automobile from
the proceeds of mortgage on your
house ought to be disgrace. To run
a grocery bill is no crime; TO fail 70
pay as you agree ought TO be. To fur
nish your house on the .nstallment
plan NAV be the best thing you ever
did-some people could not lave a
home any other way; but TO buy
clothes on a dollar a week installment
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 II difficult when they
must ask for credit Tho trouble is
they have done nothing to establish
their credit This is particularly true
in large cities where ones habits arc
not we'll known, but in small places
reputation as a cash customer soon
gets to be common property. AT any
rate it's a good plan to deal on credit
for the sake of the time when you
may need accommodation.
One Of the best known public ac-
countants in New York, states that
early i'm life he saw the time coming
when he would need TO borrow. and
concluded TO establish his credit be-
forehand He knew that II he Dor
rowed and paid promptly. he would
soon have good credit, and six per
cent for credit is cheap And so he
opened a bank account. got in favor
with his banker, borrowed but paid
punctually. until he was we'll regarded
as a credit risk.
The time came when he needle,
money to finance his undertakings
and he found no trouble in ge'tinl
what he wanted. because he had estab
lished himself as a safe borrower.
Guard your credit as YOU guard you
health II will always be a good frien'
10 you and never desert you. Borrow
when YOU must. but pay as you agre'
there in no other way. Make YOU
word as good as your bond. Treat YOU
debts as sacred obligations. Dom
"welch' or your business transactions
l. Play the man. Don't let the lender dc
~ tae worrying over the debt, d. some
Yourself Don't let it go at that. but
worry to a certain result Don't think