Publisher's Synopsis
This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1897 edition. Excerpt: ... CHAPTER V Valuable Information and Methods of Obtaining It All must concede that if the credit man had definite and complete information regarding the merchant's financial condition, together with a knowledge of his character, ability and habits, as well as the facts concerning local conditions surrounding the debtor such as bear upon the ability of his customers to pay for their purchases, there would be very little excuse for losses. In fact, if this information was corrected or verified at least once, or, better, twice each year, he would be an obtuse credit man who would have many losses other than those that are brought about by visitations of Providence or other causes impossible to calculate. With the truth of above statement granted, is it not then of the utmost importance that we make a very close and careful study of the manner of obtaining such information, the credence to be given to some lines of advice and the science of collating all evidence and reaching conclusions? It is not enough to know that the applicant for credit starts with ample capital, for if he is not possessed of energy, ability and economy this capital may soon dwindle. If he has not had the experience with the world to teach him that it is unsafe and unwise to credit indiscriminately, his capital will soon be scattered to the four winds. Should his honesty be questioned or his habits be unsteady and thus cause negligence of his business, competitors will soon have his trade, questionable resorts or convivial friends his capital and the jobber his worthless notes and accounts. Past Record. --Let us know his past record; has he failed? If so, under what circumstances? Occasionally a credit man is found who takes it for granted that because a man has failed...
