Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1921-08-25
ORGANIZATION
IS PERFECTED
THREE DIRECTORS OF BOUNDARY
COUNTY CREDIT ASSOCIATION
ELECTED FRIDAY
CREDIT PLAN EFFECTIVE SEPT. |
Strictly Thirty Day Credit win Be
the Rule.

The Boundary County Credit Asso-
citation completed its organization at
a meeting called for the purpose of
adopting bylaws and electing direct
ors and held at the |. o. o. f. hall on
Friday evening, August 10th.
The directors elected were ] w
Reid w. T. James and G. w. Meg
quier. At a directors meeting held
after the general meeting had ad-
journed, ]. w. Reid was chosen presi-
dent, w. T. James vice president and
E. M. Flood secretary and treasurer.
The hormony of views expressed by
the members and the interest taken in
launching the association bespeak its
success, while its capable government
is assured by the personnel of the
board of directors.
The plans and objects of this asso-
citation have been pretty well dis
cussed in business circles and are
generally known to our citizens. The
members of the association desire
however, that the widest publicity be
given to the new methods which the
association proposes to put in effect
September 1st, and to the reasons
which have brought the association
into being. At the risk of some repe-
tition, the Herald will therefore re-
state what the association proposes to
accomplish and how it is going to
work to bring about that accom-
plishment.
Briefly stated the main object is to
extend a reasonable term of credit
to all who are prompt in meeting their
obligations and to withdraw credit
from those who carelessly allow their
obligations to become overdue This
the association proposes to effect by
enforcing the general rule of a 80 day
period of credit, in so far as the sale
OF merchandise and the doing of work
is CONCERNED. A longer period of
credit may be arranged for provided
it is done in advance, but the general
rule for all open accounts will be a
strictly 30 day credit That is, the
payment for goods purchased, say, in
September, will be due October 1st
and the account if unsettled by Octo-
ber 10Th, will then be considered past
due, with the result that the debtor
will in that case be put on a cash
basis by the other members of the as
sociation until that bill is settled.
There does not seem to be anything
in this plan which should work a
hardship on the man who is reason
ably attentive to the meeting of his
obligations, and the business man of
the community feel that public senti-
ment will be behind them in causing
those who are inattentive to mend
their ways. For the man who is slow
pay is as much of a detriment to the
man who pays promptly as he is to
the merchant on whom he imposes.
The man who pays promptly is en-
titled to the lowest market price. 1t
is impossible, however, for a merchant
to offer goods at the lowest market
price when a large portion of his
capital is tied up in the hands of
those who fail to pay their bills. The
man who pays promptly is the mer-
chants best friend, and our merchants
are determined that their MANY
| friends shall not longer be made to
suffer by the shortcomings of the
comparatively few who demand un-
limited time to liquidate their obliga-
tions. The greatest good for the
| greatest number is what the associa-
tion seeks to obtain
The new plan goes into effect in
Bonners Ferry on September 1st and
the members of the association, which
includes most of the business houses
of the town, are pledged to carry out
the rules of the association without
deviation.