The Bottineau courant. (Bottineau, Bottineau County, N.D.) 1895-1929, 1915-12-16
50.-vou and Your Credit,

Every man should be jealous
of 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 we'll, if not better than he
guards his money. He can
protect his good name by keep
ing good company, avoiding
questionable 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-bor-
rowing and paying as he agrees
buying on time and paying
on time.
The greatest force in the
business world in credit-the
power to borrow; to get trust
ed; to obtain the property of
another to use as your own on
a mere promise to pay. Cred
it, says Webster, has done
a thousand times more to enrich
nations than all the mines in the
world" Credit spans rivers,
opens mines, builds railroads,
moves commerce and wages
war. Our whole business struc-
ture 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 dishonorable; the
abuse of credit is. The man
who runs in debt is not a bust
ness offcast, but a sensible man
provided he uses his credit
right. There are some forms
of debt to be encouraged; there
are others to be avoided. To
buy a house with a mortgage
on it is commendable; but to
buy an automobile from the
proceeds of a mortgage on your
house ought to be a 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 te the best thing you
ever did-some people could
not have 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 60 plan find
it difficult when they must ask
for credit. The trouble is, they
have done nothing to establish
their credit. This is particular
ly true in large cities where
ones habits are not we'll
known, but in small places a
reputation as a cash customer
soon gets to be common prop
erty. At any rate it is a good
plan to deal on credit for the
sake of the time when you may
need accommodation.
One of the best known public
accountants 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 before
hand. He knew that if he
borrowed and paid promptly.
he would soon have good cred
it, 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 re-
garded 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 esta-
blished himself as a safe Dor
rover.
Guard your credit as you do
your health. 1t will always be
a good friend to you and never
desert you. borrow when you
must but pay as you agree i
there is no other way. Make
your word as good as your
bond. Treat your debts as
sacred obligations. Don't
"welch' on your business tran
sactions. Play the man. Don't