Page 13 Advertisements Column 2

New Zealand Herald, Volume LX, Issue 18547, 3 November 1923, Page 13 (Supplement)

BJliiiiiiiii n imiiiiiwii—iiiihiiiiiiiiiiii ilium imiiiiimii niiiißiißMiiMiiw—»Wiiiiiwi *6nrmJEXnTB - mm' ' in mi in i ■»in urn i> i—— jJUBeWaIM M Kj IIUMBBe! '■"■in in" I ———i »—■■——■»— i ■ m \ • ■■■■•■■ : ■~. -,' '- ; . -':■ ';■ , ROGER W. BABSON says The following is a resume of a letter written by 'Roger W. Babson, the world's leading business statistician. It is Y so plain and unequivocal that its^^ should appeal to everyone 1 who reads it — but the benefit will not come till we act on it •'. , f<Z"- : , ■'•:*.' ' '£' ■ . •'■* ;..'■/-'. ,■'-.;' .■'■■• ■•'.'>"• ■ .-' '"' ."". ■'■' " ; " ■'■■' - ""' ■'■ ' "■' '' ' - : '■' i.'* '" ■'■'"■. . : •' ■ '"'' : " . ""- '-' : i *v, ■ '"'''■: *'•'-':' y. ■■■ ;■' ■' ," •• [ ~ ■:..- v '~. v, ' — .■■■;;■... ■■ . ,'. >■■ .;.. - It is not so much the amount.of Wood in our their money and energy into making financial bodies that counts: it's the rate of circulation. It ' conditions better. is not- the amount of money in business which is ■-' > ■'* most important: it's the speed of turnover. There This letter is not directed to any particular is always about so much money in the country. locality, If the habit of slow payment existed! ". .' In good times and bad the actual amount of cur- only in one section the effect would not be so I rency fluctuates relatively little. The great serious. It is a general condition, and until it '' * difference between brisk and dull business s corrected 7 nothing can truly >elp the farming I conditions is the rate at which money changes , community. ,If cheques were mailed to-day for j hands. One pound used twice develops the on l y 23 per that is, one-quarter, of the * I same amount of business as two pounds used un paid bills over 30 days old, the potential buyonce. If we want a healthy, strong financial ing power 0 the country would be increased • situation we must do what we can to keep money enormously and the money situation would be \ I circulating! eased Iror everyone in the Dominion. Do you Apparently, however, business men and know my quicker way of bringing prosperity farmers do not realise this fact. Whenever a than that ? "Why not try it? " • ■ period of uncertainty appears, everyone, whether * he can pay or not, tends to hold on to his money The difficulty is that everyone is waiting for and let his bills go. People seem to cling to somebody else to start. In explaining slow pay* their cash as though it held some saving grace to ments, each gives as the reason that his own 3 ward off trouble. position is difficult. Why not each of us start ; v This wave of slow paying is caused by the. .'.. » campaign aH by himself? Even if we have feeling of uncertainty regarding the outlook, but to borrow money to do it, pay up our o its effect on business is to ma*e a certainty of accounts quickly and » the one we pay to v ' . V very much worse conditions than otherwise would P™ **« favour along in the interest ° everyone . . occur! The life-blood of business is clogged. else. "Do unto others as you would that they To have payments slowed down 25 per cent. do unto you" is not only Scripture, but good ■.■■■ - <— ■ii i- rit nractice In this case, it will serve more : is exactly the same as sending a fourth of our business practice. *""»*». , ..• • v , u - . j a-. . fI L » \Y/k *. than anything se to bring real prosperity to money and credit out of the country. When the tnan *"*»""« ■/.. outlook is dubious it may be good judgment to this country. v ''-•..-.- ■,< curtail buying. The banks respect a buyer for - .< ".. _ ,'-*'• i , . . i t • i i'ii l »— Pnvnot payments or old accounts and L,asn , ■-: .:,: r being cautious. Unpaid bills, however, are rro*npi p«y« .» ... . I _ ; _ 1 -ri . l *j .*™. V;.«» Tradine in the future will -keep money turning ;• I another matter. They must be paid sometime. I racing .ww ~,,,., ■ - ■ ' ■ ' J, . To delay simply frighten, lenders, injures credit, many dimes a month, instead of lying dormant x and takes the heart out of those who would put in outstanding accounts. issued by the FARMERS' TRADING COMPANY in the interests of the community.