Money, what it is and how to use it - by William Richart Hayward - PDF ebook
Money, what it is and how to use it
From preface:
There has long been a demand, growing more urgent, for the training of young people to a grasp of the meaning and use of money. Much emphasis has rightly been placed upon the need for saving, but, as many a man has discovered by sad experience, we need fully as much to be taught how to spend.
This training, especially for women on whom the responsibility for varied and perplexing business management comes suddenly as an accompaniment of matrimony, has been the subject of an extended and careful study by Mr Hayward, upon whom the six thousand girls yearly in attendance in the Washington Irving High School have been a large responsibility for a long period. Other experience, both previous and contemporaneous, has aided in maturing his judgment. During his years of "teaching, Mr Hay ward's field of action has included a private business school, a college for women, a city university, and four city high schools.
One of the latter was the High School of Commerce which has prepared so many of New York City's boys for business careers. He has also business experience of several years. For the period covered by the past two years, he has been editor of the "Efficiency Society Journal," the official organ of the Efficiency Society, an organization composed of merchants, bankers, manufacturers, and professional men.
What he practically worked out in those positions, corrected by experiment and amplified for application to the needs of boys and girls, men and women, is set forth in this book. By means of sufficient connection of the subject with history and economics, he has made it of wider vital interest than any mere business compendium.
Contents:
Introduction ix
I. What Money is X
Money substitutes — Why we want money — What money really is — The three necessary qualities of money — What money does — How people lived before money was known — Barter — " Swapping. ' '
II. Barter and Primitive Money . . 8
How barter developed into money dealings — Cattle money — Belts of wampum.
III. Development and Use of Metal Money 15
The desire for ornaments — Gold and silver as ornaments — Their use in barter — Metals in rings and weights used as money — Coined metals — Silver money of Athens — Iron money of Sparta.
IV. The Relation of Money to Progress 20 Slavery — Claims of rulers and lords of the lands — How money helped people to become more free — Trades and guilds — Debts and their payment by money.
V. How Money grows 24
.Extravagance — Thrift.
VI. How Money is obtained .... 29
Five ways of getting money — Gifts compared with earnings — Obligations when gifts are accepted — Boy and girl merchants.
VII.Keeping Account of Money . . 35 Accounts — Two classes of accounts — Development of a modern account — Bookkeeping — Debits and credits — The one fundamental rule of accounts — DiiFerent accounts illustrated and explained.
VII. Substitutes for Money ... 54 Bills of exchange — Real substitutes for money — Bank-notes — Government notes — Checks.
IX. Banking 61
Money as merchandise — Loans and discounts — Security for loans — Notes — Drafts. X. Stocks and Bonds 70 Partnerships — Joint-stock companies — Corporations — Shares in corporations — Certificates of stock — Bonds,
XI. Speculation 78
Business compared with speculation — Speculation compared with gambling — Stock speculation — Stupidity of gambling. XII. Exchange 86
Business between different countries — Foreign
exchange — Gold exports — Bank exchanges -Clearinghouses.
exchange — Gold exports — Bank exchanges -Clearinghouses.
XIII. Money for Women 100
Women as employees — Women as partners of their husbands — Money for women — Conditions under which they usually receive it — Conditions under which they should receive it.
XIV. Travel 107
Need for ready cash when travelling — Danger from loss and theft — Letters of credit — Travelers' checks.
XV. Buying 117
Care needed in buying — Prices and quantities— Terms.
XVI. Receiving 123
Ways of receiving goods — Direct and indirect ways — Receipts — Bills of lading — Examination of goods — Stock-books — Insurance.
XVII. Paying 128
Paying on time — Preparation for making payments — Danger of delay in making payments — Suits and judgments — Failing — Assignments — Discounts — Methods of payment.
XVIII. Selling 13S
Finding customers — Advertising — Fixing selling prices — Four kinds of costs — Difference between selling cost and overhead — Cost calculations — Giving credits — Mercantile agencies — Terms of sale — Salesmen — Salaries and commissions to salesmen.
XIX. Delivering 146
Ways of making a delivery — Proof of delivery — Shipping goods — Ensuring goods — Delivery records.
XX. Collecting 151
Ways of collecting — "C.O.D." — Drafts — Acceptances — Notes — Protest — Stop- ping payment on checks — Examination of accounts. Index 161
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