If a merchant wishes to get pretty deeply in debt, and then get rid
of his liabilities by bankruptcy--if, in fact, he proposes to himself
to go systematically into the swindling business, and engage in
wholesale pecuniary transactions without a shilling of his own, the
first thing he should take care to learn would be the whole art of
book-keeping.
From what may occasionally be seen of the reports of the proceedings
in bankruptcy, it is found that _well kept books_ are regarded as
quite a test of honesty, and though assets may have disappeared or
never have existed, though large liabilities may have been incurred
without any prospect of payment, the bankrupt will be complimented
on the straight look of his dealings, if he has shown himself a good
book-keeper.
To common apprehension it would seem that well kept books would only
help to show a reckless trader the ruinous result of his proceedings,
and that while the man _without_ books might flatter himself that
all would come out right at last, the man with exact accounts would
only get into hot water with his eyes open. If a man may trade on
the capital of others without any of his own, and get excused on the
ground that he has kept his books correctly, it is difficult to see
why a thief who steals purses, &c., may not plead in mitigation of
punishment that he has carefully booked the whole of his transactions.
It would be interesting to know the effect of producing a ledger
on a trial for felony, as well as curious to observe whether a
burglar would be leniently dealt with on the ground that his
house-breaking accounts gave proof of his experience in the science
of “double-entry.”
Therefore it would be well for those interested to procure copies of
“RE ACCOUNTS” and “ADVANCED THOUGHT ON ACCOUNTS.”