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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: ON BANKING. P. If any confirmation had been required of the importance of a general prevalence of fidelity in the performance of engagements combined with intelligence in forming and completing them, we had it, I think, in our last conversation. The extent to which credit is used is in itself a proof that conscientiousness and intelligence are not rare qualities among us. On the other hand, the calamitous consequences of a lack of those qualities, which are perpetually paraded before our eyes in the reports of the Bankruptcy and other courts of law, cannot but incline us to consider whether those calamities might not be reduced henceforward in number and severity. They lead us, also, to suspect that, great as are the advantages which we derive from the judicious use of credit, they would be much greater if many cautious men were not deterred both from giving and taking credit by their inability to protect themselves against those who are disposed to use it ignorantly, incautiously, and fraudulently. Our main reliance for diminishing and, if possible, extinguishing the ignorance and unconscientiousness, in which misuse of credit originates, must be the better teaching and training of the young, for which, on other grounds, we have so often admitted there is need. Meanwhile, -as we might bo assured, the less timid and more enterprising portion of mankind have not been thoughtless about contrivances for securing themselves against loss from misuse of credit by those with whom they are induced to deal, while anxious not to relinquish altogether the use of so powerful an instrument of productions acredit is perceived to be. People can scarcely avoid giving credit?even where they conduct their business on the principle of taking none. The purchase of a bill of exchange payable at sig...
| ISBN-13 | 9780217528122 |
|---|---|
| ISBN-10 | 0217528120 |
| Weight | 0.68 Pounds |
| Dimensions | 9.00 x 6.00 x 0.47 In |
| List Price | $19.99 |
| Format | Paperback |
|---|---|
| Pages | 206 pages |
| Publisher | |
| Published On | 2009-08-01 |
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