The Internal Management of a Country Bank, Letters by Thomas Bullion

Author: George Rae List Price: $20.31 You save: USD 0.21 (1%) Buy new: $20.10 Buy used: $21.31 Avg.Rating: ( reviews) Sales rank: Qty: 7 in stock Media: Edition: Reading Level: Pages: 112 Number Of Items: Shipping Weight (lbs): 38 Dimensions (in): 598 x 902 x 24 ISBN: 1150758783 EAN: 9781150758782 ASIN: 1150758783 Publication Date: 2009-12-23 Availability: Usually ships in 24 hours

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General Books publication date: 2009 Original publication date: 1850 Notes: This is a black and white OCR reprint of the original. It has no illustrations and there may be typos or missing text. When you buy the General Books edition of this book you get free trial access to Million-Books.com where you can select from more than a million books for free. Excerpt: Letter III. OVERDRAWN ACCOUNTS -- Continued. FURTHER OBJECTIONS TO PERMANENT OVERDRAFTS TEMPORARY OVERDRAFTS EXPEDIENT IN CERTAIN CASES -- PROFITS AND INCIDENCE OP OVERDRAFTS. The story of a draper, sent you in my last, is not a mere figment of the imagination. Of my own knowledge, the narrative is true in the main of half-a-dozen cases in one little country town of my acquaintance. I do not mean to assert that every one is like Twist, and makes the like improvident use of a permanent advance from his banker. There are numerous instances of parties, who, starting with a fair capital of their own, have turned to profitable account the additional capital procured by them in the form of an overdraft. Nevertheless, it should be borne steadily in mind that overdrafts are recalled almost invariably in a time of monetary pressure and low prices, and consequently at a time when the trader must realize at a loss. The majority of applicants for overdrafts rarely think of this; therefore you ought to think for them, and rather encounter their present displeasure than their future maledictions ; because it is nothing unusual for the man to whom you have unhappily lent your money, and who has paid you a trumpery dividend, to turn round and charge you and your advances with his ruin. I grant that, under all the circumstances, particularly if you are smarting under the loss of a thousand or two, such an accusation is peculiarly intolerable, the more so because a banker ordinarily considers that he confers a favour by granting an overdraft, and entitles himself rather to gratitude than to abuse : but as the ingrat...