Dollars and Sense | Page 3

in the drawer, and
resorts to extreme measures, trying to beat the races, or to win money
by gambling on stocks or grain.
One day he finds he is in a dickens of a fix. He sees no way out of it.
He takes more money and skips out, only to be caught later on and
made to suffer, and all this because he could not say No to temptation.
Learn to say No. Set your jaws firmly and say No. The friends who go
back on you and criticize you for saying No to the things that are
hurtful to you are unworthy of the name of friends, and you can very
well get along without them.
Friends who ask you to do the things you should not do are the very
ones who are of no service to you in time of need.
The individual who says No regardless of the flings and taunts that are

cast at him is the one who eventually makes a success.
Character counts above all things in the business world. The banker
extends credit on character oftener than we imagine. The banker knows
how to say No.
A man's credit and character are most important factors in business, and
many a man without security has attained magnificent success through
untiring energy, ability, character and courage enough to say No.
In proportion as you grow strong and unhesitating in saying No, the
temptations and opportunities to say Yes will lessen in number.
Exercise your back bone and your jaw bone, so you can say No and
stick to it.

Credit
No factor is so necessary in building up business as credit, and no
factor is so necessary in building up credit as truth.
It is comparatively easy to start credit, but the art is to keep credit.
The young business man who says "I want no credit, I buy and sell for
cash" makes a mistake. It is all right to pay promptly, but do not
establish a spot cash payment basis, for later on, when you ask credit,
your creditors will think something is wrong.
Establish a credit whether you need it or not. It is a good advertisement
and a frequent help.
Be reasonably slow in paying your bills, but positively sure that you do
pay them.
When you get a sharp or blunt letter asking for a settlement, go to your
creditor face to face, set a date when you will make a payment and keep
your agreement.

Don't be specific as to amount unless you are decidedly sure you can do
it. Be specific as to date, however, and be there or have your check
there on the date.
Suppose a man owes you $100 and you ask him for it and he says
"Here are ten dollars on account, and on next Thursday I will make
another payment, and as often as I can I will pay something until you
are fully paid up." You don't get angry at that man when you see his
intentions are good and he is doing his best.
So long as your creditor gets something every time he writes it keeps
him good natured.
It is the man who breaks promises who gets hard usage from the
creditors.
If you owe more than your present cash balance can liquidate, make a
pro rata payment all around among your creditors. Write a good square
letter saying nothing would please you more than to send a check in
full, and that this payment is made as evidence of your willingness and
intention to keep good faith.
Keep in touch personally with your creditors as far as possible. Talk to
them of your plans and prospects. Always tell the truth. Have your
account as a moral risk rather than as a Dun or Bradstreet risk.
There is sentiment in business. Creditors have hearts and they have
good impulses. They appreciate friendship and especially gratitude.
Don't believe a word of that great untruth "There is no sentiment in
business."
Don't get angry when asked for money. Admit your slowness and tell
your creditor that as an offset for your present slowness you have a
good memory and a heart that appreciates, and some day your
purchases will be much larger, and those who are your friends now will
certainly get the benefit when the time comes that you do not require
favors.

An honest, frank, heart to heart talk is most valuable. The credit man
keeps the truthful man in mind and his account under his protecting
wing. The credit man glories with you, and has a distinct interest in
your success when it comes.
It often happens that the small bank or small manufacturer is the best
place for the beginner to go for credit. You can