Bisbee daily review., 1915-07-10
TRADE COMMISSION
 VICE CHAIRMAN IN
 BROAD STATEMENT
Edward N. Hurley States That American Business Men Should Be Aided by the Com mission In Many Ways.

WASHINGTON. July Chair. man Edward N Hurley of the Federal Trade Commission. in statement to- day suggesting plans by which the commission may give constructive help to American business. emphasiz- ed two methods which he considered of particular importance
 "One of these" said Mir. Hurley. in his statement "is to aid the business men of the country in obtaining the additional credits 10 which their busi. ness operations may enuue them The second is 10 aid in establishing a standard system of bookkeeping and cost account The two are In. terdependent."
 The commission has in mind. MT. Hurley announced. dividing the coun- try into zones and maintaining in each, experts in accounting, costs and manufacturing upon whom manufac- turers, merchants and business men may call for advice and assistance in establishing economies.
 "The small manufacturer, the coun- try storekeeper, and the retail mer. chant as a rule" he said, do not get all the banks credit that they ought 10 receive, owing to the fact that they are unable to present balance sheets in accordance with good business prac- tice. These men are just as good business men in many respects, as those of larger operations. They have brains, ability knowledge of their wares and of their customers, but they do not speak the language of the bank CT in that they are not able to present a statement showing their true assets and liabilities.
 Frequently a business man with a credit of a few hundred dollars at his bank, based wholly on persona grounds, could, if he could produce a reliable balance sheet. readily abtair several thousand dollars which would enable him 10 expand his business along sound lines Failing 10 obtain it., his business is limited and con fined
 Bankers are in business to loa1 money to bushes men. and recognize that loans made on balance sheets that sound are desirable loans. Tn, banker will welcome any standard O statement that will permit him easily to ascertain the exact liabilities an, assets of his customer.
 "It is recognized that no one stand ard form of accounting can be an piled to all classes of business. ant that special forms must be deviseD for each group or classes Of commerc, and industry. For example, the coa industry can use one standard systen of accounting Among others, tn country store and general store retail CT, the wholesale grocer, the boot am shoe wholesaler, the boot and sho retailer. the drug. store the manufaC turers of textiles. the manufacturer e machinery the wholesale clothier. tn retail clothier, each must have hi own special syestem. But it is tru that a great many Of thees form could be adapted for use in lines othe than those for which they are origir ally arranged, as certain fundamenta principles underlie the general stru, ture of accountancy and must be re, ognized by each group.
 The fact must be admitted that i order to put a selling price on you products you must if you be a manl facturer, first know exactly what
 costs you to manufacture and SC them. When business was done on large percentage of profit this was nc so essential, but in most lines of iI dustry today the large percentage C profit has passed. We are working o a smaller margin and we must abs, lutely know what our goods cost. An old and out-of-date method of arrivin