The Farmington times. (Farmington, St. Francois County, Mo.) 1905-1926, 1921-02-04

that business seems for the moment
to have tabled the golden rule. And
the golden rule; we must. remember, is
not a counsel of perfection. It is not
beyond the practice Of any conscien-
tious man,, It is, in fact, the broad
| and substantial foundation of every
day morality. The only true and per-
manent business success is founded
upon it. Confidence, credit, prosper
ity, are possible only when in the long
| run business men can be trusted to
treat those with whom they trade as
they themselves would wish to be
treated in return.
"The greatest war in all history"
says Mr.. Howard Elliott, "began
when one party to contract decided
to repudiate it without the consent Of
the other party" The war was fought
to establish the principle that con-
tract solemnly entered into must be
| faithfully carried out. And honor is
not an attribute of nations only, or
even chiefly. 1t is first of all individ-
ual. The great business men of the
past have thought Of their honor as
the most precious of their possessions.
Most business men are still crupu-
lous IN adhering to their obligations,
but the minority who are not, who re-
gard contracts as binding only at their
convenience and who repudiate them
as a matter of no Importance, is
alarmingly large. Such men have al
ready made the present situation
vastly more trying than it need be,
for their lax conduct is unsettling the
foundations on which every substan-
tial business structure must be built.
1t is not unusual for the breaker of
contract to reply to any effort of the
other party to hold him to his engage
ment that, if he is obliged to carry out
his agreement, he will cut off all rela-
tons with the man who asks only for
his rights.
Reputation is a quick and easy
way out of a possible loss; but what
Of the party of the second part, who
has made investments in equipment,
material and labor in order to produce
the goods that have been contracted
for? He has been robbed of the
chance to sell them TO some one else.
Is ne u HdNS ITO PlOtSStiOi d6HHi9
that loss of opportunity? No man
should make q contract unless he
means to carry it out. By mutual
agreement with the seller he may take
options or make reservations or give
conditional orders if he thinks his fu-
ture needs are doubtful. 1t is not the
cancellation of such agreements that
we have in mind. But if a man de-
cides that he needs goods or services
sufficiently to sign contract for
them, he ought to be prepared to CIR
nv out his obligation cheerfully to the
extent of his resources.
This is the time, before the practice
of reputation goes any farther, to
emphasize and stabilize those prlnci-
pies of commercial ethics on which
sound business depends. The textile
trade has organized bureau of con-
tracts that is considering what steps
can be taken to standardiZe contracts,
to pledge enforcement of them when
they are made, and to protect members
of the trade from the retaliation OF
customers who have been denied an
uniustified cancellation of their con-
tracts. The same measures might
well be taken by all trades that are
sufficiently we'll organized. There
will always be many cases in which a
friendly conference between the par
ties at interest will lead to abrogation
or modification of the contract. In
time of business stress, that is the
surest means of avoiding hardship OF
injustice to either party. But for the
reputation and honor of American bu-
mess some way must be found to
check the practice of fTee-and-easy re-
pudiation.-Youth's Companion.