Image from page 376 of “Credit of the nations: a study of the European war” (1918)

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Image from page 376 of “Credit of the nations: a study of the European war” (1918)
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Identifier: cu31924032443677
Title: Credit of the nations: a study of the European war
Year: 1918 (1910s)
Authors: Laughlin, J. Laurence (James Laurence), 1850-1933
Subjects: World War, 1914-1918 Credit Debts, Public
Publisher: New York, C. Scribner’s sons
Contributing Library: Cornell University Library
Digitizing Sponsor: MSN

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Sweden were more than six times the normalshipments; and those to Holland were at the highest thatsame year. Not until 1917 did our imports from Swedenshow a marked increase; while those from Holland re-mained at normal. The facts are now well known that the sudden increasein the exports of cotton, copper, and other needed articlesfrom this country to European neutrals indicated pur-chases by neutral merchants for German ac-Sriy S*i9is. count. For a considerable period, indeed, set-tlements between Germany and the UnitedStates went on through Amsterdam. The consequentexcess of our exports over receipts from these neutrals,and the demand for New York funds, explains the pre-mium in Europe on New York exchange in the early partof the war (when the lines in Chart IX were above 100).At the end of 1915 for Holland and Scandinavia, and inthe spring of 1916 for Spain and Switzerland, exchange CHART IX COURSE OF DOLLAR EXCHANGE (CABLE TRANSFERS) ON PRINCIPAL EUROPEAN NEUTRAL PLACES 1914-1917

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CREDIT IN THE UNITED STATES 343 on New York showed a heavy depreciation.^ In Decem-ber, 1915, sales of American securities for German accountthrough Holland caused a drop in exchange which led to ashipment of 0,000 in gold from New York to Amster-dam. Soon after that time Germans also sold Americanobligations on the Stockholm market. The main cause, however, of the serious decline in ourbills which developed in 1916 was the risk and cost oftransporting gold. Moreover, the restrictions of the Brit-ish blockade were closely drawn against themovement of gold to the neutrals and thence to Jg^st us.Germany. Otherwise gold would, by reasonof trade balances, have been moving from New York toHolland^ and Scandinavia. The censorship of mails andcargoes by British patrol boats, it is reported, delayedletters from New York to Stockholm seven weeks. Henceour Swedish trade fell off in a marked degree in 1916 and1917 (from exports of .2 millions in 1915 to .9 in1916 and .1 in 1917). The

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Image from page 62 of “Credits and collections:” (1920)
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Identifier: creditscollectio00skin
Title: Credits and collections:
Year: 1920 (1920s)
Authors: Skinner, Edward M White, Reuben Stratin, b. 1860 Kramer, Horace Elliot, 1878-
Subjects: Credit Collecting of accounts
Publisher: Chicago : La Salle Extension University
Contributing Library: University of California Libraries
Digitizing Sponsor: MSN

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r novicein engineering or chemistry. Shrewdness does not insure honesty, but a cleverbuyer, by the wise selection of goods, insures that theywill be salable, and thus increases his power to pay billsat maturity, whereas the uninformed buyer is apt tooverstock mth poorly selected goods, which detractsfrom his ability to meet his obligations when they falldue. It is not the business of the credit man to giveinstruction in correct buying, but when he recognizesshortcomings in this regard, it is clearly his duty tominimize the chances of loss to his employers by curbingthe customers inclination to overbuy. Injudicious buy-ing on the part of the retailer always results in his havingslow sales and small profits, which means uncollectibleaccounts for the wholesaler. As a consequence, it is farbetter to reject such business altogether than to incurloss through accepting it. It is manifestly easier to judge an unknown customers NAMl for the punrepresentatnliabilities, upresent pur> Namei

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for the purpose of obtaining credit withJACHSON BROTHERS, of Chicago, III., do make the following statement and representations of present true financial circumstances, wealth, mercantile connections, assets and Habilitiea, which said representations shall be the basis of credit with JACKSONB80THEBS, for this present purchase, and for all purchases hereafter. 1 Name of firm a copartnership composed of .„0„». For m^nhandi,,^ {givs nama and date when du^ on other «,-rf«> HM, „,t ».«.»„, ,o.J Chattel mortuoQe C.rt ., /..nj ., „ 6.„» Uoon what propertu OM, p,™.»o/ „„.rU «.«/ ,MU. mtrM u When due % >,,….,.. , How sec.r.d tanta. -.?.»«, » ln.„ma. $ Encumbrance on real estat. Rtftfer,,,,: Amourit of past du« notes Are you surety en notes or bonds? Confd..tioJ onaoth^r debts not,nc,ud.d.boo 7M a«.» ntal Uabmes The answer to all questions not answ ered hereon in writing is No. The aboue statement, both printed and written, has been oa

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Image from page 196 of “Credits and collections:” (1920)
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Image by Internet Archive Book Images
Identifier: creditscollectio00skin
Title: Credits and collections:
Year: 1920 (1920s)
Authors: Skinner, Edward M White, Reuben Stratin, b. 1860 Kramer, Horace Elliot, 1878-
Subjects: Credit Collecting of accounts
Publisher: Chicago : La Salle Extension University
Contributing Library: University of California Libraries
Digitizing Sponsor: MSN

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act that banks make nostrenuous efforts to collect such drafts. They may writeto the debtor asking him to call with regard to the draftor present it through a messenger. If it is not paidwithin a few days, the bank returns it with such briefnotations as *No reply, Refused, or Not found.A specimen sight draft is presented in Figure 6. Drafts are usually payable at sight or on presentationby the party in whose favor they are drawn, but they maybe drawn payable a specific number of days after pre-sentation, in which case they are called time drafts.The time draft is seldom used in connection with thecollection of past-due accounts. When so used it ispresented promptly for acceptance, with the acceptanceand maturity written across the face to be signed by thedrawee. If the time to run is only a few days, it iscustomary for the bank to hold for payment, otherwiseit is returned to the drawer who will henceforth treat itas a note. An accepted draft has the same standing and Slow Accounts 161

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^^ ft bC .1-1 ooocoooeoceoooeececoe»ooot>oo9ooo 00 000 oooovooocooooooQooeoooooooo 0 000 00 0900 Account No. PLEASE DETACH AND RETURN WITH REMITTANCE TO HARMONY & COMPANY 70S SOUTH LA SALLE STRCCT CHICAGO. ILL. Fig. 7.—Advice Form Used in Connection with Drafts Slow Accounts 163 use as a note of hand and is subject to the same treatmentin its use and collection. Drafts on customers in other towns may be depositedfor collection with the drawers own bank or may besent for collection and returns to a bank in the customersvicinity. In either case a record for follow-up is neces-sary, because the mailing of a draft does not relieve thecollection department of any respons

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