The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1917-01-31
CULTIVATE THE THRIFT HABIT
YOU 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 rame.
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 keeping
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-borrowing and paying
as he agrees-buyinS on time and pay
ing 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 our own on d
mere promise to 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 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 business offcast, but ii
sensible man-provided he uses his
credit Alright. There are some forms
of debt to be encourag ed; 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 Ofea 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 fur
nish your house on the installment
plan may be the best thing you ever
did-some people could not have d
home any other way; but to buy
clothes on a dollar a 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-
ish credit. This is particularly true
in large cities where ones habits are
not well known. but in small places
reputation as a cash customer soon
gets to be common property. At any
rate it is good plan to deal on
credit for the sale of the time when
you may need accommodation
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 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 well regard
ed as credit risk.
The time came when he needed
money to finance his underta kings.
and he found no trouble in getting
i what j he want dssbeeause he had -es7
tablished himself as a safe borrower.
Guard your credit as you guard
your health. 1t will always be
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 sacred obligations.
Don't 'welch" on your business trans
actions Play the man. Don't let the
lender do all the worrying over the
debt, do some yourself. Don't let 1t
go at that, but worry to certain re-
suit Don't think for a moment your
creditor has forgotten your debt, no
matter how old we never forget such
things.
When you must borrow, do not go
to your friends, but find some organ
lied agency (they exist in every large
city) that makes lending a business.
If your proposition is good, and you
can qualify you can get your loan,
and it will be a cold business propo-
sition, satisfactory to both.
Next to good bank account, good
credit is your best friend Guard 1t
as such.-American Bankers Assocla-