The sun. [volume] (New York [N.Y.]) 1833-1916, 1915-10-31
What the Dynamic Vice. Chairman Of the New
Federal Body Thinks Of Its Purposes and
Evils 1t Will Seek to Eradicate

through 1t all. He has had to meet a payroll,
and business men know what that means.
The average citizen is prone to classify all
business into two classes-big business and lit
tie business. There is reason for this idea. al
though 1t Is not entirely accurate. Neverthe-
less. between big business and little business
il a broad and almost unoccupied field. The
great majority Of the business Of the country
IL little business. Why does not more Of 1t move
forward at least into the intermediate zone?
Out Of his own experience Mr.. Hurley an
swers that II is because Of the lack Of two
things-accurate knowledge Of Its own condi-
ton. which means the absence OF proper ac-
counting methods. and absence Of credit. 1t Is
his hope to cure this condition.
But not by regulative action. 1t IL not Mr..
Hurley's thought to force anything on the
business world. True reform In this. as in all
things. must come from within. by combined
voluntary action in trades. Industries and
classes Of business only can the principles he
suggests he put into effect. and that through
the cooperation Of recognized chartered ac-
countantS not In the Government employ.
In other words. Mr.. Hurley's suggestions are
based on the idea that the commission can help
business to help itself.
fNen UeIDTe liz IHuue liz SuSS'S'i'uS WI
tain industrial and commercial organizations Of
national character had Initiated movements to
the same end. notably in the matter Of ac-
counting. But such movements are more or
less isolated In character and are far from
being general. The national organization OF
the accountancy profession has agitated for
years in the direction Of better general ac-
counting methods. but all trades and all indus
tries have not recognized the need.
The Hurley suggestions have given a new
impetus to the movement and have served to
assist many in making a diagnosis Of their
own commercial Ills. The reflection Of this
Is found In the generally commendatory COM
ment found In the trade and class journals.
The big thing Of immediate advantage in the
plan is making simpler and sounder the matter
Of the business man obtaining credits tn which
the volume. character and record of his business
entities him. Uniform systems Of accOuntancy
In this connection are merely means to the end
uniform system OF credits. But the benefits Of
accountancy systems flow in other directions
too. for they furnish material for that thorough
analysis OF n business that is necessary to any
complete understanding Of it.
Financial institutions. as indicated by bank
ing journals. find merit in the Hurley plan
Anything which will standa riize credits benefit.
the banks as we'll rs the business men.
This country" said Mr.. Hurley recently. In
discussing his plan aud the work II the Fedora
Trade Commission. has got to the point where
in the matter Of trade, it is turning its thoughts
outward. We are looking abroad for markets
BY reason Of the war the worlds trade is in M
abnormal condition.; but sooner or later peace
will come. ana then In the foreign markets W.
will have to meet the keeneSt competition If in
dustrial and commercial nations in which eff
cheney in all the elements of business has be.I