Vrf_^ y^*f^^^f^^ GIFT OF RECOMMENDATIONS. CtTicinnati, 1838. We have thoroughly examined a work recently published by Mr. J. C. Colt, upon Double Entry Book-keeping, and feel DO hesitation in saying it is the best work we have ever examined. The classification he has given in illustrating the accounts which form the science, we think will be of material advantage to the people, by being instructed from this method over the old and common plan. His Key, which explains the entries, and his forms lor keeping books, &c., {which we do not recollect seeing published before,) form a moat useful acquisition to the science. We cordially recom- mend the work to our friends and the pubUc. JAMES M. f''> 'OS* Sir —After an attentive perusal of your treatise on Book-Keeping, I take pleasure in expressing to you my approbation concerning it. The method which yon have employed to elucidate the science, renders it easy for the pupil to aequire a kiiowled<'e'of uiercaiilile lran.';actions, and also gives it a decided advantage over anything hillierto published on the same subject. " I think tluit the teacher and accountant need only become acquainted with its merits to give it a preference. I shall introduce it as a text-book to my classes, and I trust it will be generally used in schools and counting-rooms. I hope your industry and skill in simplifying and illustrating so important a branch of study, will meet a return commensurate with the merits of your work and gratifying to yourself. E. H JENNY, A. M., Seventh Ward Grammar School. Sir —Your treatise on Book-Keeping is so admirably arranged and simplified, that I frankly acknowledge it the best that I have seen. Notwithstanding there are many and excellent ones extant upon the same subject, (and all deserve to be highly appreciated.) the plan and execution of yours do honour to your judgment. The select rules and excellent key must'clucidatc to the most duU apprehension a simple and easy mode to the science of Book-Keeping. I am, most respectfuUy, THOMAS IIA\\'ES, 23 North Pearl Street, Albany. J C. Colt, Esa., Albany, 1839. gir,— Having been presented with a copy of your Treatise on Book-Keeping,— with a request that I would examine it, and g'ive an e.vpression of my opinion as to its merits,— I have examined the work, and every page has afforded new evi- dence that it is the work which is to fill a void in the public schools of our countrv, hitherto left blank, more for the want of a proper text-book, than any other cause. With your book the study may oe prosecuted in all our schools, with as much confidence and success, as the study of arithmetic, grammar, or any ordinary study,— and with little additional labor to the teacher. I shall use the work in my school. Respectfully yours, J. W. BULKLEY, J. C. Colt, Esa., ^ . ^ . ^'""J'' ^- "'^.' ^839. Dear Sir,— Having thoroughly examined your excellent work on Book-Keepmg, it affords me great pleasure to bear tes timony to its merit. It is decidedly the best work on that science, that I have fotmd, and shall therefore introduce it in my school. I am. Sir, yours respectfuUy, GEORGE B. GLENDINING. Principal of a Select School, and President of Troy Teachers' Society. Equally flattering and complimentary recommendations as tlemen : — GAZZAM & BUTLER, Merchants, Cincinnati, Ohio. DELAFIELD 3 CONTENTS. ' Page. Cldsing Books, 21 Of Accounts and their Divisions, 22 Journalizing, 22, 23 An illustration of entries which arise from keeping a regular Merchandise Account, • • 26—36 An illustration of entries arising from the purchase and sale of Stocks, Real Estate, and the general agency of the like, 36 — 40 An illustration of entries common to a Commission House, 40—46 An illustration of entries accruing to the consignment of goods to be sold on Commission, Adventures, &c 46 — 52 An illusti'ation of entries common to regular Speculations, 52 — 56 Entries for closing books, 56 — 58 Trial Balances, 76—79 Company Business, 82, 83 Auxiliary Books, Forms, &c 84 Bill-Book, 85 Payable, 85 Receivable, • 86 Cash-Book, 87, 88 Check-Book, 89 Bank-Book, 90 Invoice-Book, 91, 92 Commission-Invoice-Book, 91, 92 Sales-Book, 93 Commission-Sales-Book, 93 Outward-Invoice-Book, 93 Form of an Account-Sales, 94 Form of an Account-Current, 95, 96 Postage-Book, 97 Receipt-Book, 97 Time-Book, 98 Portage Bills, 99, lOQ Freight-Book, 101 Steam-Boat Report, 102 Form of a Manifest, 103 Bill, 103 Order-Book, 104 Memorandum-Book, 104 Expense-Book, 104 Letter-Book, 104 End of School Edition, • 105 PART n, OF TEACHERS' AND CLERKS' EDITION. Directions to the Learner, 109, 110 Vocabulary of mercantile terms and phrases, Ill — 119 Kkt, explaining the nature of- the business transaction of each of the Day-Book entries and manner of Journalizing, with reference to the Rules under which each entry falls, 120 — 139 [6] CONTENTS. Practical Forms tor Keeping Books. Preliminary remarks, 141 Set No. 1. An illustration and explanation of a set of Books for a small business, 144 — 15[ Set No. 2. An illustration'and explanation of a set of books for a business of medium extent, 152 154 Set No. 3. An illustration and explanation of a set of books for a house of the most extensive operations, 155 — 164 Further considerations and plans on the method of Keeping Books, ••• .165 No. 1. Day-Book and Journal, plan of uniting them in one book, 165—167 No. 2. A plan of using a Collecting sheet, to save Leger posts, 167, 168 No. 3. Journal Formula and explanation for showing your daily, weekly or monthly gains in business, 168, 169 No. 4. Journal Formula and explanation for saving numerous posts to the Leger accounts of Merchandise and Cash, 170, 171 No. 5, Journal Forms easily extended, 171 Different Plans for keeping the Leger exemplified, 172, 173 Forms of Bills, Notes, &o. Forms of Receipts, , 174 Forms of Due-Bills, ......... 174 Forms of Orders, 174 Forms of Promissory Notes, 175 Forms of Drafts, 175 Bill of Exchange, 176 Set of Exchange, 176 Commekcial Calculations. Preliminary Remarks, 177 Interest, &c. General Rules and Illustrations, . . . 177 — 179 Bank Discount or Interest, 180 Brokerage or Commission, ....... 180 Insurance and Policies, ........ 181 Equation of Dividends, ...... 181, 182 Equation of Payments, ...... 182 — 184 Mea-surement of wood, timber, vessels, &c. . . 185, 186 CusTOM-HousE Duties and Allowances, 186, 187 Measures, .187 Table of Coins, 187, 188 Public Addresses, 191 — 223 [7] PREFACE. In oiTering, at this time, a new Treatise on Book-keeping, it seems due to the public that some plausible excuse, at least, should be given, as of late, so numer- ous have been the " hodge-podge" Publications upon this important science, that the young men whom it is intended to benefit, have, unless assisted by some ex perienced teacher, become disgusted before half perusing an author's work on the subject; throwing it aside, and preferring rather to trust to chance for their knowledge, than to suffer the laborious task of arranging, simplifying and adap- ting, intricate entries to the common business of life. For the intrusion, you have a work written in common mercantile language, with that brevity which strictly conforms to commercial custom. In the de- velopmeiiis of the principles of the science, are illustrated not only one or two branches of business, (as generally conducted) but, also, all the common and leading branches throughout the commercial world. In a word, you have, laid before you, the science of Double-entry, or Balanced Book-keeping simplified, the author believes, and made much easier to the learn- er than the plans of all preceding works, from its definite rules, and the mathe- matical arrangements of the different classes of accounts; and containing in a less compendious form, a greater variety of entries than any system heretofore published. Whether there be not a material advantage to the pupil, in learning the sci- ence of Book-keeping, (as in most other sciences,) from the direction of definite rules, and mathematical arrangements; instead of laborious explanations, multi- plied questions and answers, and mixed illustrations, is, in this work, respect- fully submitted to the candor of an enlightened public, by THE AUTHOR. Note (6tli Edition). — The unparalleled success of this work far exceeds even the most sanguine expectations of its author. Two years have scarcely elapsed since the first edition was published, and aheady the sixth is called for. If success be any proof of its merit, the author feels that the mathematical arrangement and scientific construction he has i^iven in expounding the principles of Book-keeping, form a signal evidence 61 triumj)h over numerous obstacles in acquiring the science thought heretofore to exist. The work is now adopted and successfully taught in upward of two hundred schools. The present edition is somewhat improved, thoug'h not materially altered from former publications. Regarding the science as an important branch of study to the young intended merchant, and ever anxious to see its ])rinciples made clear, and its collateral parts perfected, the author would glailly receive any .lug gcstions that may be made by those engaged in practising or teaching the science, and would take great pleasure in giving credit for the same. This work was not written for profit, neither is it published for gain. It can be had for half the usual cost of similar publications. And if variety of matter alone rendered it valaa- ble, it will be found, on examination, to contain forms and formulas more than equal in number to those co?nprised in all other works published in this country and Europe during the two last centuries. The work has been translated into French and German, and adopted in several of the high &chools of Europe. New YoaK, 1841 B \ 9] A BRIEF PLAN OF THE WORK. Prefaces are usually taken to be an author's puff of his own production, and consequently they are seldom read. Still at first, to be rightly understood is an author's chief desire, and to rightly understand an author should be the first wish of the scholar. This perspective view of the following pages is designed as an " Alad- din's Lamp" in the hands of the reader, without which if you are not skilled in science, you might feel yourself sometimes at a loss. This obscurity will come, if at all from the lights jutting from each object, and not as is usual coming from some great common centre, leaving the remoter parts to be dimly pathed by refrac- tive and broken rays. Each part is so arranged as to explain itself. The princi- ples are brought out of chaos; and when you understand them, in practice, keep as much or as little of the old-fashioned rubbish about them as you please. — You will find, still you have it, the principle is there ! Principles are at first developed, with- out regard to any particular form for keeping books. Thus, the entries of the Day Book are divided into five divisions and not scattered without order, as has been the custom in the works of all my predecessors. Each of these divisions are governed by a principle which acts separate and apart, and which principles taken together make up the science. Of these principles there are five, explained in the five divisions. 1st. — The first division embraces the first two months of the Day Book, January and February, and in which is illustrated a regular Merchandise account, together with such entries as commonly occur in transacting business on one's own capital, in regular purchases and sales of goods. 2d. — In the second division (March) of the Day Book, will be found an illustration of such entries as arise in the purchase and sale of Stocks, Real Estates, and General Agencies of the like. 3d. — The third division, the month of April, is confined to that class of entries which occur in doing rii] A BRIEF PLAN OF IHE WORK. a Commission business. 4th. — In the fourth division, May, is illustrated such en- tries as occur in the Consignment of Goods on commission to be sold jointly or singly. Adventures, etc. 5th, — In the fifth division, June, the last month in the Day Book, is confined to home speculations singly and in company with others. Among these five divisions will be found interspersed, without disturbing the order of the rest, those few anomalous entries that occasionally occur in business and which are as common to one branch of trade as another.* The explanations given of the accounts which make up the science, are in a con- densed form each explained as a rule by itself, after the plan of explanations in practical mathematics. Following the Ledger will be found an illustration of such Auxiliary Book:5 and business Forms as is customary to include in similar publications, with this differ- ence, they are in greater variety and are modernized in conformity with the busi- ness practice of the age. This much embraces but one hundred pages of the work, and the principles herein developed are of greater variety and more extended than is to be found in the works of Goddard, Bennett, Marsh, Foster, Harris, Morrison, Jones, etc., ancients and moderns, notwithstanding many of these productions cover several hundred folios. You may rest after going over these few pages with the as- surance of having as perfect a knowledge of the science of Book-Keeping by Dou- ble Entry as you would have if you were to peruse all of the most popular works of the age. These one hundred pages form the first division of the work which may be had in a separate volume, and used as a School-book where preferred. In the second division of the large work, which is more particularly designed for Teachers and Clerks, there will be found in addition to the above. Directions to the learner when studying the science without the assistance of a teacher ; a Key, which explains the manner of Journalizing, and the nature of the business transaction of each and all of the Day-Book entries, A Vocabulary of mercantile terms, abbreviations and literary phrases ; Commercial Calculations, etc. ; also a variety of Practical Forms for keeping books, as circumstances may require, in every extent and diversity of Com- mercial Houses, together with the author's Public Addresses upon the origin, pro- gress, and the science of accounts in general. • The better to understand the reason why these divisions are given to the five classes of accounts, which form the basis of the science, the learner is requested to read the author's Public Addresses. [12] INTRODUCTION. Book-Keeping is the science of recording and preserving the changes of all real or supposed property between individuals, either single or united, in order of the date of the occurrence, and in language mercantile. Book-keeping, abstractedly considered, doubtless owes its origin, like most other sciences, to the wants and necessities of man. The utter inability of man to remember all his business transactions, is evident to all; and that the love of gain in too many transcends the right of property, is too apparent, not to require a record of transactions binding upon the parties concerned. And thence we may infer, that Book-keeping owes its origin to those who first gave a written reference of a mutual change of right of property. What people are deserving of this praise, is enveloped in doubt, amidst the clasnings and never-ending dis- putes of writers on ancient history. The principle of Book-keeping, as now^ understood and practiced, is laid claim to by the Italians, who date the time of its origin in the middle ages. But even the name, and the place from whence glimmered the first principle of the science of Double Entry Book-keeping, is unknown; that spot which would be held sacred by the whole commercial world, slumbers beneath the sea dirge; is heedlessly trod upon by the passing way-fare r; and is wept for only by the dew- drop of some straggling and unconscious flower. But it was for the boundless and still spreading commerce of England, first to develope the great beauty of the science; and for the genius of America to give to it a language clear, concise, universal and simple ; so as to render it plain to the most common understanding, and consequently equally valuable in applica tion to every man's business. Among the numerous authors since the publication of John Picle (one of the first English writers upon the science) there are no works to be found more valuable than those published in our own country, by Goddard, Bennett, Marsh, and Edwards, each of whom in his turn has enjoyed a popularity which must have been highly gratifying to themselves, and pleasing to their friends. These works on examination will be found measurably calculated to expand the mind and enlarge the views upon commercial transactions. PRINCIPAL BOOKS. The principal Books now in use are three, viz: THE DAY-BOOK,* THE JOURNAL AND THE LEGER. The Day-book and Journal are sometimes bound and kept together as one book, of which there are two approved forms in use. In establishments (generally wholesale) where a Sales-book is used, these books are found to be more convenient, and without an unnecessary waste of paper; inasmuch as each page is used alternately for the Day-book and Journal. Also in establishments confined to large sales and purchases of one or two arti- *This volume is so called, from being ths place of recoifiing daily business transactions. And from the circum.staace of its containing the first record of a change of property, it becomes the only book, where the Sales-book is not substituted, that the merchant keeps, which is good and valid proof in law, in the absenM of real testimony, of mercantile transaciinns. Although called Wasje-book by some, it is the last of the cntalogiie dessrving so absurd a title. INTRODUCTION. cles at a time, the Day-book and Journal may be, by an expert accountant, admirably kept as one' book with very little trouble. For which see the form in part i2d. But comparatively few are the establishments (where it is advisable to keep a Journal) in which it will bo found expedient to adopt any other than the established custom, of using the Day-book and Journal separate. AUXILIARY BOOKS. The titles of these books, taken collectively from difterent establishments, are entirely too numerous to particularize, as almost every house adopts forms ot sunple auxiliaries to represent the divisions and subdivisions of its various branches of business. The following are in the most common use in regular mercantile houses, and for their descriptions and that of others, see the forms in the sequel. CASH-BOOK, MEMORANDUM-BOOK, CHECK-BOOK, BILL-BOOK, BANK-BOOK, INVOICE-BOOK, RECEIPT-BOOK, SALES-BOOK, LETTER-BOOK, ACCOUNT-CURRENT-BOOK, &c. EXPENSE-BOOK DAY-BOOK. This book is usually kept and on which is daily written in historical form, all your business transactions. Where the articles bought or sold are enumerated on this book, the form of entry is exceedingly simple. For example, see Day- book, page 1st, January 4th, 6th, 7th, 9th and 10th. The forms are in com- mon use. and are decidedly the briefest that can be adopted, which express explicitly that class of entries which forms more than nine tenths of those made in most commercial houses. Where there is a Sales-book kept, the Day-book entry is made as — for exam- ple see Day-book, page 9th, April Sth and Uth. These two are the forms of the common entries in such establishments. To give you an exact form of entry for every mercantile transaction, would be impossible, as they may be as numerous as the sands of the sea. But vou will find in studying this work, there are illustrated a sufficient variety of entries to make you so complete a master of the science, that you will be enabled, without difficulty, to make any entry that can possibly occur. ^ In making an entry, always observe to give the date on which the transac- tion took place; the name of the thing or representative given or taken in exchange; the conditions, if any, that are stipulated in the bargain rnade; the person Avith whom the bargain was made, or who may be concerned in it; and the amount. These are all the essentials of an entry. And by copying the Day-book as you learn the principles, you will soon become a proficient in giv- ing to all transactions the essentials in mercantile form. The author has taken particular pains in many cases among the most difficult entries of commission business (as you will find in the last half of the Day-book) to have the entries both of reception, sales and final settlement of the account, to follow one another as near as possible. Also, in consignments, such entries S)S would only occur in actual business by a separation of several months, are [14] INTRODUCTION. here put together, the better to give the learner a more complete understanding of those most difficult and complex transactions with the least possible trouble. JOURNAL. This book is used for preparing and collecting, where it is necessary, the amounts of theDay-book of the same date and concern under Leger titles. For examples see Journal, page 1st, January 4th, where the Leger titles are given to the amounts total of the Day-book transaction. For an illustration of the collective form, see practical forms in the Clerk's and Teacher's edition of this work, part 2d. The collective form may sometimes be" extended to a week or month without regard to date. This book has, within a few years past, among good accountants, been great- ly improved, and now generally when adopted, forms a bare index to the Leger. LEGER. This book is used for collecting under mercantile titles and personal names such unsettled sums or balances as arise between individuals from business transactions. Also your entire estate of debts, claims and property, real and personal, each portion under its appropriate title. Posting is generally made on the Leger by giving to the proper account the amount of the debit or credit there belonging, the date of the transaction, and opposite to each sum the balancing account;* or where there are more accounts than one that form a balance, from want of room on a single line to enumerate \hem respectively, the word Sundries is used. Note. — For different plans of keeping a Leger see Part 2d. PROOFS. Journal. — If you journalize correctly, the footings of the Journal and the Day- book taken for any given time will agree. This is the only proof you have of having transferred correctly the amounts from the Day-book to the Journal. And this is sufficient, and is always considered proof positive. That these books may agree in their footings (as well as journalizing right) it sometimes requires care on the part of the accountant, in his most difficult en- tries to see that he carries the amounts correctly from the inner to the outer column of the Day-book. Leger. — As often as once a month, all accountants, unless prevented from ex treme pressure of business, or who consider it hardly worth their trouble from the trifling amount done, should take what is called a Trial Balance of the Leg- er. This Trial Balance consists in taking all the footings for a month, or any given time, of all such accounts as have been posted to for the time taken, and placing the respective debit and credit amounts on a sheet togetiier (see exam- ples of Trial Balances at the end of the Leger) and then footing them up, when if you have posted correctly, the footings of the two columns will agree. In case these columns do not agree, you proceed to examine your footings on the *Any account may by a balancing account to another entry, as ii is the account or accounts to which the reverse of a debit or credit entry is made, for examine, William ]\Iay may be debited with a given amount of merchandise, here Alerchandise is for said amount tlie balancing account, and must consequently be cred- ited for the same, and rice versa. Q^ Be careful not to confound balance account (for a description of w»iich see Primary Rules) with this exrlanation. [15] IxNircODUCTION. LjgtT. If you do not discover your error here, and tuey are correct, you will find tLe error in posting from the Journal. In actual, business, the accountant, to find the error, examines, with the assistance of a second person, by read- ing and comparing the separate amounts of the two books, when he discov- ers the error witliout dilficulty; whether it be owing to an entire omission of posting; to carrying the amount to tlic wrong side, or to incorrectness in trans- posing the iigures. Wliea your Lcger is thus shown to he coiicct from the balance, it is considered proof positive, notwith- standing errors may still exist. Notiiini; that comes from ilie hand of man is perfect. And the science of Book-keeping contains in itself as few exceptions, taken in connection with its beneficial elfects, as any that can be named. And although an error may exist at the lime, tlieso proofs are considered satisfactory, yet, I think all accountants versed in the science, will agree with me tliat not one error can be found in nineteen sets of books out of twenty, when all the respective accounts of said bonks are settled. When you make this only exceptionable error in the science, by posting a debit or credit entry to a wrong account, (which does not if cariied to an opposite balance prevent the Leger from balancing) it will, most likely, as there are two accounts t;tVci;teik, it will be better at first, in case of a wrong post, to alter the figures of »aid error into cyphers, that your 'I'l ia) IJalances may agree with those given, which will aid you much in dis- covering mistakes. THE GRAND BALANCE SHEET. On winding up a set of books, there can be no plan adopted which combines so many advantages, and is so methodical in its arrangement, as taking first, what is called a Grand Balance Sheet. And nothing can be devised to give the learner so complete and satisfactory a knowledge of the science, as taking one of these sheets. In fact no man is entitled to the name of an accountant, unless he is perfect master of this part of the work. Several authors have omitted this sheet in their works, or any general plan for representing one's affairs in a complete and comprehensive manner at a single view ; from which fact, I can only infer, Ihat their prac- tice, if any, must have been in individual or very limited company concerns : inasmuch as in most incorpo- rated e'staDlishments, as well as many individual houses, the accountant is called upon at or before the annual or semi-annual examination of affairs, to show on a sheet or pamphlet, the general state of the books or concern. Consequeiitiv, as an accountant, I must consider such works incomplete, and as not giving the essential and useful information they purport to contain. Plan of the Sheet.— When you have prepared your books for being closed, you take all the Debit and Credit balances of the Leger, as yoa find them on your Trial Balance; being careful to add, previous to taking the balance, your last postings which come under the head of preparatory steps to closing books: placing them on a prepared sheet, (see formula at the end of the Leger) you will then find if you have taken the amounts correctly from the Leger or Tri- al Balance, that the footings of those columns will agree. You next carry into the columns of Profit and Loss, as here represented, the balances of all such accounts as your rules direct m\ 'X be closed to this account. You next close the account of Profit and f^oss to or hy the account of Stock. Carry stocii balance into Stock. Then all the other balances not disposed of, are carried into Balance. You then close Slock by giving its balance to Balance Account; this finishes the sheet, which represents, in miniature, your whole Leger ac- counts or business affairs. Having completed this, you next make your Day-book entries in accordance or Journalize directly from the sheet (see Journal, page I7th,) and post as [ 16 ] INTRODUCTION. usual. Having done this, your Leger footings will, of course, agree: — Give the footings in ink, the lines in an accountant's style, and the work is completed. Note. — If you become an expert accountant in closing books, you may omit entirely the trouble of either making these entries upon the Day-book or Journal. Still further — if circumstances do not require of you to take this sheet, you may close your Leger without. But in most cases you will find that the satisfaction you derive therefrom, will richly pay you for your trouhle. Besides, by fastening this sheet at the end of your Trf>irpi' vnii mnv snvp vniivapir thp Imiihlfi nf nnpniii" n Balance account, ns tils'! Rhnpf coiilniiistin?"'f '^s parts. Consequently, the learner wilflook to the principle defined m each rule, to know how to -i'spose ot the Day-Book entry ; or to Debit or Credit, as may be necessary, the proper accounts affected by said Day. Book cr other original entry. r irr T C [ 1" J INTRODUCTION. 4th. — Bills Receivable. This account is debited with the Notes, Bonds, and Acceptances, you receive from different persons ; or on hand at the commencement of business, and receives a Credit for the same when taken up, or otherwise disposed of. It naturally closes of itself, but if there appeal's a balance on unnding up your books, close it by Balance account. Should a note not be exonerated at maturity, and you do not conceive it a total loss, it is best to charge it in account to the drawer ; and il' a total loss, Profit and Loss must be Debited ; and in both cases Bills Re- ceivable Credited with the face of the note. 5th. — Bills Payable. This account is Credited with all Notes and Bonds you give of your own drawing, or that may be unredeemed at commencement of business; also, Drafts or Bills of Exchange w'hich you accept for a definite period, and Debit- ed with the same when taken up. This account^ like Bills Receivable, natural- ly closes of itself, and if not found closed on winding up your books, close to Balance account. 6th. — Bank. This account is Debited with all Cash, Notes, and Bonds deposited, and Credited with all Cash and Obligations drawn. It is closed by or to Balance if there appears a difference in its footings on ivinding up your books. As the Leger is the minor in which all your aftairs are to be represented, under no consideration omit this account. The more you reflect upon its importance, the more you will be in favor of its adoption. 7th. — Interest, Discount, Brokerage, Premium, Protest, &c. This account is Debited with the interest or discount on all your Notes, Bonds, Cash, Sums you allow on Accounts Current, &c., and for the use of money and goods of whatever kind, and Credited wdth the like sums allowed you by others ; whether said sums Uccrue from the natural tenor of an obliga- tion or otherw' ise. On winding up your books, it is closed to or by Profit and Loss 8th. — Expense. To this account you Debit the incidental sums paid for carrying on your bu- siness: such as clerk-hire, store-rent, cartage, letter-postage, newspapers, &:c., &c., and Credited with any sum allowed by others, which has been previously disposed of as an expense to yourself. It is closed by Profit and Loss. 9th. — Individual AccpuNTs, These accounts are numerous, and are known by the respective names of each individual to which are Debited all goods sold from time to time, that are not settled for; and are also Debited for that which you may pay, or are allow- ed on account, and receive a Credit for the Cash or value of the thing received from time to time, as compensation or otherwise. They are likewise, under certain circumstances. Debited or Credited with the amount of accommodation transactions. Also, Credited with the amount of any goods you may purchase on account, and for Bills drawn on others. These accounts, on winding up your books, are closed to, or by, Balance account. [ 18] INTRODUCTION. 10th. — Profit and Loss. To this account, on or before winding up your books, you close the gain, expense or loss of all such accounts as represent a gain, expense or loss. And likewise, you Debit or Credit it, as the case may be, from time to time, with any sum that may arise, which you conceive to be a gain or loss; and its bal- ance, on the final closure, shows your net Gain or Loss, as the case may be, in business. On winding up your hooks, it is closed to, or by, Stock. 11th. — Stocks, Real Estate, &c. If you own Stock in a Company, real estate, or property of whatsoever kind, on which you would ascertain at pleasure, the gain or loss, in consequence of said claim, you must keep an account with it under its proper title, and Debit and Credit it with all its expenses and gains as they occur. Accounts of this kind, on ivinding up your books, arc closed to, or by, Pro/it and Loss for their gain or loss, and by Balance for the estimated .value of the thing or claim represented, 12th. — Intrusted Real Estate, Stocks, Bonds, &c. If you hold property of any description in trust for others, it must appear on your books in the representative account of those you hold i^t for, and Debits and Credits made to it as they occur. And the individual for whom you hold said Real Estate, &c. must generally be credited for its value at the time it comes into your possession, and debited when it passes from your control. Accounts of this kind, that are not found closed on winding up your books, must he closed for the Gain or Loss that appear on them, to the personal account of the individual or individuals for whom you hold said intrusted Real Estate, Stocks, or Bonds; and by Balance for the estimated value of said property represented, 13th. — Consignments to You. If you receive goods to Sell on Commission, a copy of the invoice of said goods is usually made on your C. I. Book, the owner getting no credit for the same at the time. But an account is opened at once on your Leger, naming the Consignments, and Debits, and Credits made to it as they occur. When the goods are all sold, an Account Current is made out and remitted to the Con- signer, and the representative account should then be closed for its balance to the personal account of said Consigner; to whose personal account is debited advances or sums paid from time to time on account of said intrusted mei'chan- dise. In case the Consigner of the merchandise does not receive any compen- sation on account and previous to the entire sales, and should require of you to remit the balance due on said sales when the goods are all disposed of, the account of Sales will be closed to that (under I..eger title,) which you pay for or send, instead of his personal account. Accounts of this kind, that remain open on winding up your books, are closed to, or by, Balance. 14th. — Consignments by You and Adventures. If you send goods to others for sale on your account, you do not charge said goods to the account of the individual to whom they are intrusted, but open an account with the name of the place; as "Shipment to Canton No. 1, or A.," or "Consignment to A, B, or C," and charge said account with the amount of [ 19]^ INTRODUCTION. goods. When you receive an account sales of said goods, the account is cred- ited with the same, and the individual to whom they were consigned is debited. If these consignments are made jointly with others, they become company adventures. In which case, your representative account becomes "Shipment to (naming the place where shipped,) Co. A, B, or C," and each partner is De- bited or Credited with his portion, as per agreement. This class of accounts are closed to^or by, Profit and Loss, if you have received an account-sales; if not, on winding up your books, by Balance. 15th. — Speculations. In Speculations an account is opened with each article : as " Sugar A, or No. 1 ;'' and to which you Debit its cost and give a credit when disposed of. When full sales are made, these accounts are closed to or by Profit and Loss, for their gain or loss. If Speculations are made in company with others, the title becomes, as for instance " Sugar Co. A, or No. 1," which account is Debited to the aggregate amount of said speculation or adventure ; and each partner is Credited in account personal by the amount he advances, and Debited in case he falls in your debt on account of entering into said joint speculation. These accounts, when entire sales are made, are closed to each partner's personal account, proportionable each to their respect- ive shares. When others transact the business of a company speculation, they must be paid or credited with your share in the onset, and your company account of speculation Debited with the amount ; on return sales said account must be credited, and the person who disposed of the goods Debited if payment is not made. Jic- counts of this kind that you have not received the return-sales, or when a whole or a Dart of the goods remain in your possession undisposed of, on winding up your hooks, are closed to, or by, Balance. 16th. — Commission. To this account you Credit all sums allowed you on the sale of intrusted goods, and Debit the amount you allow others. On winding up your books, it is closed by Profit and Loss. 17th. — Loan. To this account, when desirable, you Debit all sums of money lent and paid, and Credit all sums borrowed. 18th. — Suspense. To this account the commission merchant Credits the value of such goods when sold, as from accident or carelessness he is unable to assign an owner, and gives a Debit to the same, when the owner appears. Also, when Cash or other part of your capital in Uade is withdrawn from your Stock, for an uncertain and unde- fined puipose, place the value thereof, for the time being, to this account. 19th. — Storage. To this account you Credit all sums allowed you for Storage ot goods, aJid Debit the amount you allow others. On winding up your books, it is closed to, or by. Profit and Loss. 20th. — Debentures. iTo this account is Debited that negotiable instrument issued by the Custom House, for the drawback of Duties on imported goods, when exported according to Law, and Credited When taken up. 1/ noi found closed on winding up your books, close by Balance. [ 20 1 INTRODUCTIOx\. 21 ST. — Collector ok Customs. To this account you Credit all Bonds given for duties on goods imported, and Debit the same when taken up. If not found closed on winding up your books^ close to Balance. To Bills receivable, and Bills Payable, may be and is most generally posted the obligations referred to in the two last accounts. 22d. — Debts Payable. This account is often used by Auction and Commission Merchants to avoid opening many small accouiKts in the Lager, to which they Credit the amount due on irregular Sales, and Debit the same when paid, without regard to priority of dates. And often on arranging the affairs of a deceased person, this account is used for the purpose of bringing the Debts of the estate within a narrow compass, so tliat they may be examined at a single glance. If not found closed on winding up your books, close each respective individual amount to Balance. 23d. — Debts Receivable. This account is used for the same convenience as the above. '' 24th. — Balance. This account is usually opened when you are prepared to close your books, and intend transferring your accounts to a new set, and to which all accounts, not otherwise disposed of, are closed. If your object be merely to close your Leger for a given time, and continue on in the same book, the accounts which would be closed to or by Balance in case of a transfer, should be closed to or by New Account, and opened to or by Old Account. CLOSING BOOKS. On closing books, there are preparatory steps in which many accountants, from seldom having it to do, often err, and consequently find themselves in much confusion, and not a little to their discomfort, completely at a stand. When you have come to this point, it requires only a pause and reflection. Merchandise is generally the first account examined, after all accounts in the Leger are footed, and an inventory of your goods has been taken at cost. — Reflect — Merchandise has been Debited with all goods bought, and Credited with all sold. Now it is very clear, if you add to the Credit side of Merchan- dise, the amount of goods remaining unsold, as per Invoice, (let this be done with a pencil,) the difference in the foo4:ings of the two columns will be the gain or loss on this account. ILLUSTRATED. Supposing the Debit fooling is $15,000 — the Credit footing $10,000 — the amount of goods in store, as per invoice, $7,000, which, added to the Credit footii>g, makes, $17,000, the difference between the columns becomes $2,000, in favor of the Credit side, and consequently presents a gain by this sum. For which gain, Merchandise should be Debited, and Profit and Loss C'redited. This entry being made, and you having rubbed out your pencil calculation, the new Debit footing becomes increased to $17,000, and the difference is now $7,000 in favor of the Debit side, which is correct, being tl\e amonnt of goods in store, as per invoice. Your account being thus adjusted, you are prepared to close it with others, by Balance. So of all accounts which represent a gain or loss on the iking or claim, stili remaining in your possession, whether it be Stock in a Steam-boat, Ship, Bank, Insurance, Real Estate, or other property; you make the like calculation, and [21] INTRODUCTION. give to Profit and Loss the gain or loss on said account for the time taken, and then close hy Balance. OF ACCOUNTS, AND THEIR DIVISIONS. As a general division, there may be said to be two classes of accounts. Per sonal and Representative. Personal Accounts are such as have for their title an individual name, as F. W. Thomas, Samuel Eells, or the name of a company, as J. M. & S. Broadwell, Patent Arms Man'g. Co. Representative Accounts are such as are used for a specified purpose; as Expense, — an account showing the aggregate of your expenses; Cash, — an account showing the amount of money expended and received; Bills Receiva- ble, — an account showing the amount of Notes, Bonds, and the like you may hold against others. The following, and similar accounts, are all Representa- tive: — Stock, Interest, Discount, Profit and Loss, Merchandise, Bills Payable, Commission, Bank, Storage, Debentures, Collector of Customs, Loan, Debts Payable, Debts Receivable, Patent Arms Co.'s Sales, Patent Arms Man'g. Co.'s Stock, Life and Fire Ins. Co.'s Stock, Simmons' Plantation, etc. etc. I do not deem the above general division of any material importance to the learner or an accountant, but the following division is of the utmost importance, and should be well understood. Book-keeping has its basis in five different classes of accounts, viz: 1st. — Merchandise. 2d. — Accounts arising from owning Stocks, Real Estate, and the general agency of the like. 3d. — Accounts arising from receiving and selling goods on commission. 4th. — Accounts representing the amount of goods consigned to others to be sold on commission. 5th. — Accounts repre- senting each article bought and sold, which are generally confined to regular speculations, and are termed Speculating Accounts. Agreeable to the first general division, these five classes, which form the basis of the science, are all representative accounts. And the accounts that may arise to form a balance to the business operations of any of these five classes, may be either personal or representative accounts. In the preceding pages, under the head of "Rules of Accounts," I have par ticularized as great a number of accounts as seemed necessary to unfold to the knowledge of the learner a complete mastery of the science, and no more. By studying them well, and applying them to the Journalizing of the Day Book entries, you will never find in practice any difficulty in forming an account to suit any purpose or convenience you may wish; for all accounts, with the exception of the five classes which form the basis of the science, and those considered as personal, in the first division here given ; and to which we may add the account of Profit and Loss, are entirely arbitrary, and used at pleasure. JOURNALIZING. Most authors who have attempted an exposition of this science, have given their explanations under this title; and in many instances, I have no hesitation in saying, and without fear of refutation, that the accumulated arguments and illustrative examples under this head, have only tended to mantle the whole subject in clouds and darkness. On reading them, vou will find, in most cases, [ 22 1 INTRODUCTION tnat you must first become a book-keeper, in order to understand what ideas are intended to be conveyed. And being an accountant, you may not unfre- quently pass a friendly smile upon groups of smoke and airy nothing. For my part, (not seeming to want, iiowever, any veneration for my worthy pre- decessors,) 1 am perfectly willing to let all of this kind of illustration " down the wind to pray at fortune," and try no longer to sustain by props a tree of such growth, that after a faithful culture of nearly three hundred years, has not now sufficient strength to sustain itself. In the place of these twenty or thirty pages of explanations and illustrations, I would introduce to your thoroucrh acquaintance, the Twenty Four preceding Rules, which will give you, by apply- ing them as directed, and with yery little trouble, a complete knowledge of the theory of the science. In studying these rules, bear in mind that they explain the titles or accounts which form the science; and in Journalizing, your business is simply to give such of these Leger titles to the amount of the Day-book entries, as the nature of the business transaction requires, and is therein expres- sed. As a general rwle, you may fix on your mind, that — In amount, and under Leger titles, every Debit must have a Credit, and vice i)ersa^ every Credit a Debit. Also — The person or persons for whose accommodation a transaction has been executed, must, in account personal or representative, be Debited or Credited, as the case may be, agreeably to the purport of the Day-book record. And vice versa, (in order to keep your Leger in constant balance, for the like amount or amounts that others may be Debited or Credited with,) you must, under your accounts representative or personal, receive an opposite Debit or Credit. Also — The amount which you receive or are benefitted by, must, under Leger titles, be Debited to that which you give or benefit; and vice versa. Note. — You may by this time, as it has been a custom of many authors to give what they call an "Infal- lible Rule" for Journalizing, be looking for something of the kind in this work. I have seen so much hum- bugery practised upon this word " Infallible ;" so much deception couched beneath it ; and so much error in consequence of making a general reliance upon this " Infallible Rule ;" that if I had formed in my own mind a rule of general action, possessing ever so many excellent qualities, I would not apply to it, for the sake of making it current., a name or title which is only applicable to Deity, and that which may be anaUt- ically traced to some of the inherent principles or first laws of nature. Consequently, I hope you will not look here for infallibilities, coming as this work does from a fallible mind. I must for your better information have you go back to the simple law of book-keeping; study the nature of your day-book entries; make yourself familiar with the accounts as explained under the head of "Rules of Accounts;" and read attentively the above general explanations on the principles of Journalizing. And above all, look into your Day-Book, Journal and Leger, and trace out the principles there developed, and see the position of each principle, part and portion, in its different stages. It is true that the general principle or governing rule of book-keeping, is founded upon the principle of equilibrium. The principle of ei^uilibriuju is a rule of mechanism, founded upon certain laws of nature; which laws are infallible. But this is no sort of reason why an author should put several rules together and dub them an " Infallible Rule," and send it forth to beguile the unwary and deceive the learner. I look upon all these infallible rules in the same light as I do the quack's pill, which is sent forth as an infallible preventative to all diseases, or an infallible cure to all complaints. Did my limits admit, I should like to dwell longer upon this " Infallible Rule." [23] INTRODUCTION. SYNOPSIS OF RULES. The following synopsis of the ten leading rules laid down in the preceding pages, fliay be found to answer a good purpose, in fixing the first ideas of the nature and object of the principal accounts, in the minds of quite young pupils ; although, they ■will be found very faulty, if too great a reUance is placed upon them. 1st. — Stock. On opening books, stock account is Debited with the amount you owe ; and Credited with the amount of all property, &c., in your possession. 2d. — Merchandise. Merchandise is Debited with all goods bought ; and Credited with all sold. 3d. — Cash. Cash is Debited with all money received ; and Credited with all sums paid away, or otherwise disposed of. 4th. — Bn.LS Receivable. Bills Receivable is Debited with all Notes, Bonds, and Acceptances, you receive ; and Credited with the same when they are taken up, or disposed of. - - 5th. — Bills Payable. Bills Payable is Credited when you dispose of your own Note, or accept a Bill drawn on you ; and Debited with the same when taken up. 6th. — Bank. Bank Account is Debited when you deposite money ; and Credited when with- drawn. 7th. — Interest. Interest Account is Debited for all sums allowed as interest on Notes, &c. ; and Credited with the like svuns you receive from others. 8th. — Expense. Expense Account is Debited for clerk-hire, store-rent, and the many little expen- ses that occur about an establishment. 9th. — iNDivrouAL Accounts. Individuals are Debited when they become indebted to you on book-account j and Credited when they make a payment. 10th. — ^Profit and Loss. Profit and Loss, on or before closing books, is Debited with all expenses and losses J and Credited with all gains. [24] DAY-BOOK AND JOURNAL. ■New Orleans^ January 1, 1837. Inventory of my Property with which I commence business — Also, of debts I owe: I have in Merchandise, as per invoice, • ^20,000 Cash, 500 Deposits in Merchants' Bank, • 14,500 House and Lot No. 35 Canal street, • 10,000 Sundry Notes, as per Bill Book, am't to • 5,700 There is due me on the accounts of Edmund B. Stedman, 2,300 Samuel Hewes, 2,100 John Holbrook, 1,000 James H. Rice, • 500 John Caldwell, 1,200 / oioe as follows To William May, | 500 " Games &l Hardon, 200 « James W. Carr, 3,O00 Sundry Notes, as per Bill Book, am't to ...5.000 Sold Wm. Mav, 1 hhd. 900 lbs. Sugar, (a) 10(j? .$ 90 10 firkins, 1,000 lbs. Butter, (a) 14(1? 140 20 do. 2,000 lbs. Lard, © Sd? 160 2 pipes, 250 gs. Madeira Wine,© $2, 500 6 Sold Gaines & Hardon, at 60 days, 200 lbs. Loaf Sugar, © 14(f $ 28 1,000 lbs. Orleans do. Q 9(J? 90 20 pipes, 2,400 gs. Malaga Wine, (a) 70(|? 1,680 Bo't of Gaines & Hardon, Mdse. as per invoice, am't to, • 9 - Bo't of Wm. May, 500 bush. Wheat, © ^1, Rec'd Samuel Hewes' Note at 5 mo. in full of acc't,- 10 . Sold John Holbrook, at 3 mo. 12 boxes Raisins, (a) ^3, 6 do. 300 lbs. Sperm Candles, Q 30({?.. 1,000 lbs. Cheese, © 10^ 10 hhds. 100 cwt. SugaV, (5) $10, 36 90 -.100 .1,000 Rec'd pursuant to Order, by the t ranees Mary, Victor, from Rob't Trumble, Lisbon, Mdse., as per invoice, am't to. -$4,000 Bonds at 3 mo. for Duties, at 25 per cent, ad valorem,- •••1,000 Paid freight, &c. by Check, 490 [26] 57,800 00 8,700 890 1,798 800 500 2,100 1,226 5,490 00 00 00 00 00 00 00 00 January 1, 1837. Sundries Dr. to Stock, Merchandise, $'20,000 Cash, , 5001 Merchants' Bank, 14 500 House and Lot No. 35 Canal street, 10,000 Bills Receivable, 5,700 Edmund B. Stedman, .••••. 2,300 Samuel Hewes, 2,100 John Holbrook, • 1,000 James H. Rice, 500 John Caldwell, 1 200 Stock Dr. to Sundries, William May, ^ 500 Gaines & Hardon, 200 James W. Carr, 3,000 Bills Payable, 5,000 William May Dr. To Merchandise, Gaines & Hardon Dr. To Merchandise, Merchandise Dr. To Gaines & Hardon, 9 — Merchandise Dr. To William May, Bills Receivable Dr. To Samuel Hewes • 10 John Holbrook Dr. To Merchandise, Merchanise Dr. to Sundries, Robert Trumble, $4,000 Bills Payable, 1,000 Merchants' Bank, 400 [27] 57,800 00 8,700 00 890 00 1,798 800 500 2,100 l,t>26 00 60 00 00 00 5,490 New Orleans, January 13, 1837. Accepted Robert Trumble's Draft in favor of D. E. Font Le Roy, at 20 days sight, Paid in Mdse. Jas. W. Carr's Order, in favor of Alex. Evens, 16 James W. Carr to Eleazer Porter, as per order,- Passed to Geo. Cammack, my Note at 3 mo. for Mdse. as per invoice, am't to, r- 1^3,500 Also, to James S. Goodrich, my Note at 3 mo. for Mdse. as per invoice, am't to, 8,000 2,000 100 150 00 00 00 Sold Benj. W. Foster, Mdse. as per invoice, am't to $8,625. Rec'd in payment, my Notes of Nov. 15 and 26, 1836, each at 3 mo. am't to $3,000 Robert A. Hatcher's in his favor, dravsrn Aug. 1st, 1836, at 12 mo. for, 2,000 Check on National Bank — deposited, 3,000 Cash, in full, 625 11,500 21 Bartered with Silas P. Scott sundry Mdse. for a Note at 8 mo. drawn July 12th, 1836, by Robert Hemmingway, in favor of John H. Saxton, am't to, 25 Sold Eleazer Porter, 10 kegs, 1,400 lbs. Tobacco, (dd 12(|? $ 168,00 2 bbls. 65 gs. Whiskey, (a) 70(|? 45,50 2 hhds.250 gs. St. Rum, fa) $1,30, 325,00 2 pipes, 250 gs. Brandy, f5) $2, 500,00 26 Sold James H. Rice, 20 pipes, 2,500 gs. Champaign Brandy, (a) $2, Rec'd of James H. Rice, Lewis Shafer's Note of Nov. 15th, at 6 mo. his favor, for $2,700 Gaines & Hardon's order, 500 Cash, 900 Sold John Holbrook, 2 pipes, 250 gs. Gin,f5) §2, $ 500 10 qr. casks, 285 gs. Port Wine, CoD $1, 285 10 bis. 350 gs. Whiskey, (a) 50(1? 175 27 Exchanged Notes with Silas A. Hudson, for his accommoda- tion, each drawn at 45 days, [28] 00 8,625 3,300 00 00 1,038 5,000 4,100 960 1,000 50 00 00 00 00 January 13, 1837 Robert Trumble Dr. To Bills Payable, James W. Carr Dr. To Merchandise, 16 James W. Carr Dr. To Eleazer Porter,- • Merchandise Dr. To Bills Payable,. Sundries Dr. to Merchandise, Bills Payable, $3,000 Bills Receivable, 2,000 Merchants' Bank, 3,000 Cash, 625 21 Bills Receivable Dr. To Merchandise,- 25 Eleazer Porter Dr. To Merchandise, James H. Rice Dr. To Merchandise, 26 Sundries Dr. to James H. Rice, Bills Receivable, $2,700 Gaines & Hardon, 500 Cash, -900 John Holbrook Dr. To Merchandise, Bills Receivable Dr. To Bills Payable, 27 r29i 2,000 100 150 11,500 8,625 00 00 00 00 00 3,300 1,038 5,000 00 00 50 4,100 960 1,000 00 00 oc New Orleans, January ''21^ 1837. John Caldwell having failed, compounds at 50 per cent. Rec'din Cash, $100 James R. Marston's Note of Jan. 6th, 1837, at 30 days, his favor, for, 500 Lost the balance, • 600 28 Sold Corwin & McPherson sundry Mdse. as per invoice, am't to $578 Rec'd in payment, my Note of the 27th inst. to Silas A. Hudson, for. And for the balance, $422, due them, I have given my Note of this date, payable on the 17th of April. 31 Rec'd the following sums this month, as per Cash Book: From James H. Rice, $500 « Edmund B. Stedman, 2,000 Disposed of the following sums: To Merchants' Bank— Deposited, $2,000 " Joseph Law, 50 « John C. Colt, 100 " Expense, 50 Balance of Cash on hand, as per Cash Book, Balance of Cash in Bank, as per Bank Book,. New Orleans, February 1, 1837. Paid by Check to the Protection Ins. Co. for Insurance of Mdse. in store, •• . — . 4 Sold Edmund B. Stedman, ■ 5 ps. 170 yds. Black Broad Cloth, (a) $3,. 4 « 125 « Blue do. (a) $4,. 11 « 350" Calico, © 20(|? :• 10 " 300 « 'do. (a) 15(1? |510 ...500 ....70 45 Deposited James R. Marston's Note of June 6th, 1836, in Bank for collection, Paid by Check, my acceptance of Robert Trumble's D'ft. of Jan. 13th, protested for non-payment, $2000.00 Protest, 1.50 Sold Stephen Girard sundry Mdse. as per invoice, am't to $2,486. Rec'd in payment my Note of Sept. 5th, 1836, for 2,000 Cash for balance, .-•-- 486 [ 30] 1,200 1,000 00 00 2,500 00 2,200 2,425 19,010 200 00 00 00 00 1,125 500 2,001 2,486 00 00 50 00 January 27, 1837. Sundries Dr. to John Caldwell, Cash, I 100 Bills Receivable, 500 Profit and Loss, : 600 28 - Bills Payable Dr. To Sundries, Merchandise, $578 Bills Payable, 422 31 Cash Dr. to Sundries, James H. Rice, ^ 500 Edmund B. Stedman, 2,000 Sundries Dr. to Cash, Merchants' Bank, $2,000 Joseph Law, 50 John C. Colt, 100 Expense, 50 Cash New acc't Dr. To Old Acc't,. Bank New Acc't Dr. To Old Acc't, February 1, 1837. Merchandise Dr. To Merchants' Bank, 4 Edmund B. Stedman Dr. To Merchandise 6 Merchants' Bank Dr. To Bills Receivable,. Sundries Dr. to Merchants' Bank, Bills Payable, $2,000.00 Interest, 1.50 Sundries Dr. to Merchandise, Bills Payable, $2,000 Cash, 4861 1,200 00 1,000 2,500 00 00 2,200 2,425 19,010 200 1,125 500 2,001 2,486 00 00 00 00 00 00 50 00 [31] New Orleans^ February 8, 1837. Passed my Note at 3 mo. to the Atlantic Ins. Co. for Insm-- ance of House No. 35 Canal street, 13 Sold James W. Carr, 12 ps. 360 yds, 5 " 150 " 2 « 70 « 2 « 70 « Bombazette, © 30(1? 108 Bombazine, (3) 70(t? 105 Blue Broad Cloth, © $5, 350 Black do. © $4, 280 15 Lent Capt. Henry Sclden Cash on his Bottomry Bond, to be repaid to Robert Trumble, on my account, with 10 per cent. prem. six days after the arrival of his ship the Alii sator, in the port of Lisbon, _-Z 17 Bo't of John Holbrook, 20 Cords of Wood, © ^5, Bo't by Check, of John M. Lee, his set of exchange at 10 days sight, on Wm. L. Spooner, London; Remit- ted the same to Robert Trumble, on acc't, am't to Prem. at 20 per cent, 1,000 20 Paid by Check Danforth Marble's Note, as endorser,- — 20 $108 • 210 Sold James H. Rice, 6 doz. Common Blankets, © $18, 6 " Mackinaw do. (a) |35, • 2 ps. 65 yds. Ribbed Cassimere, (a) $4, 260 2 « 60 " Plain do. ©$2.50, 150 2 « 60 " Blue Broad Cloth, (a) $5, 300 Rec'd of James H. Rice on acc't, Wm. H. Marshall's Note of Jan. 1st, at 3 mo. his favor, for §800 Cash, • 300 21 Bo't of Charles A. Miller, Mdse. as per invoice, am't to $8,900, for which I paid him my Note at 4 mo. for $5,000 Check for balance, 3,900j — 22 Robert Trumble advises me, per Swiftsure, that he has re- ceived on my acc't of Capt. Selden, Cash in full of hisj Bottomry Bond, which he has given up as directed — am't of Bond, $1,300 10 per cent, prem 130 23 Sold Ezekiel L. Davis, 2 ps. 61 yds. Black Broad Cloth, (a) $4.50, ^^1i'^^ Four per cent, discount for Cash, - [32] 10.98 200 00 843 1.300 100 00 00 00 1,020 2,035 00 00 1,028 1,100 8,900 00 00 00 1,430 263 00 52 February 8, 1837. House No 35 Canal street Dr. To Bills Payable, 13 James W. Carr Dr. To Merchandise, Bills Receivable Dr To Cash, 15 17 Expense Dr. To John Holbrook,- Sundries Dr. to Merchants' Bank, Robert Trumble, $1,000 Interest, 20 Danforth Marble Dr. To Merchants' Bank, ■ 20 - James H. Rice Dr. To Merchandise, Sundries Dr. to James H. Rice, Bills Receivable, Cash, $800 ...300 21 Merchandise Dr. to Sundries, Bills Payable, $5,000 Merchants' Bank, 3,900 22 Robert Trumble Dr. to Sundries, Bills Receivable, $1,300 Interest, 130 23 Cash Dr. To Merchandise, [33] 200 843 1,300 100 1,020 2,035 1,028 00 00 00 00 00 00 00 1,100 8,900 1,430 263 00 00 00 52 5 New Orleans^ February 23, 1837. Sold Ephraim E. Cooper sundry Mdse. as per invoice, am't to $809.70. Rec'd in payment, his Note at 3 mo. which I have sold to Jas. M. Page, broker, at 10 per cent, discount. Cash received, $782.73 Discount, 86.97 24 James R. Marston has failed to pay his Note, which I deposited in Bank for collection, Rec'd of James R. Marston on acc't. Cash, 2 ps. 60 yds. Shirting, (a) 25(j?, -15 25 - Rec'd Danforth Marble's acceptance, bearing date Feb. 1st, 1837, at 1 mo. for Edmund B. Stedman to John Holbrook, as per order. Sold John Holbrook, 6 doz. Men's Gloves, Cod $6, 12 " Women's do., Q $5, 2 ps. 65 yds. Black Broad Cloth, (a) $5,- 2 " 61 " Brown do. © |4,... ■$ 36 60 325 244 27 Bo't of Joseph Kiffin, Mdse. as per invoice, am't to $900. Paid him Benj. Dufield's Note of Sept. 1st, 1836, for $1,000 Interest, 35 ^ Rec'd the balance $135, in Cash. Rec'd pursuant to order, by the William, Furguson, from Robert Trumble, Lisbon, Mdse. as per invoice, am't to $3,000 Bonds at 3 mo. for Duties at 25 per cent 750 Paid Freight, &c. by Check, 375 28 Sold to Robards &l Griffith an entire lot of Silk, imported from Lisbon, subject to debenture, the same to be exported to Mexico am't, as per invoice, to $5,650.25. Rec'd in payment my Bond at the Custom House, for $750.00 Their Note at 8 mo. for 2,500.00 Cash for balance — deposited, 2,400.25 Rec'd the following sums this mo. as per Cash Book, For Mdse $2,080 " Rent of House No 35 Canal street, 450 [34 1 869 500 70 2,035 200 00 00 00 00 665 1,035 00 00 4,125 5,650 2,530 00 25 00 Februanj 23, 1837. 5 James R. Marston Dr. To Merchants' Bank,- John Holbrook Dr. To Merchandise Sundries Dr. to Mercliandise, Cash, Interest, .$782.73 .... 86.97 24 Sundries Dr. to James R. Marston, Cash, Merchandise, 4 55 15 Bills Receivable Dr. To Danforth Marble,- Edmund B. Stedman Dr. To John Holbrook, 27 Sundries Dr. To Sundries, Merchandise,.. Cash, To Bills Receivable, " Interest 900 135 Merchandise Dr. to Sundries, Robert Trumble, Bills Payable, Merchants' Bank, $3,000 750 375 28 Sundries Dr. to Merchandise, Bills Payable, - Bills Receivable, Merchants' Bank, .$ 750.00 ...2,500.00 ...2,400.25 Cash Dr. to Sundries, Merchandise, House No. 35 Canal street, $2,080 450 869 500 70 2,035 200 665 70 00 00 00 00 00 1,000 35 00 00 4,125 5,650 2,530 00 25 00 [35 J Neic Orleans^ February "28, 1837. Disposed of the following sums, To John C. Colt, $ 400 « John Holbrook, 200 « Robert Trumble, 1,500, Balance of Gash on hand, as per Cash Book,- Balance of Cash in Bank, as per Bank Book,. New Orleans, March 1, 1837. v Paid by Check to Benj. H. Gwathmey, for 10 days refusal of 200 shares U. States Bank Stock, present value, $123 per share, 2,100 00 3,577J25 I 11,878 75 Sold for Cash — deposited, to Alexander Anderson, at one per cent. prem. Danforth Marble's Bill of accep- tance of Feb. 1st, $2,035.00 Prem 20.35 Paid Chailes C. Spencer $100 per acre for a plantation of one hundred acres, situated on the Mississippi, fifty miles above New Oi'Ieans, known by the name of Simmons' Plantation, as follows: Mdse. am'tto, $2,000 Bouhannan's Note of Dec. 10th, 1836, for 3,000 Cash, 2,200 Check for balance, 2,800 My house No. 35 Canal St. insured by the Atlantic Ins. Co. on the 8th ult. for $6,000, was consumed by fire on the 1st inst. — Rec'd of said underwriters my Note to them for prem $ 200 Cash for balance — deposited, 5,800 100 00 2,055 35 Presented to the University of Vermont, sundry book* bo't of Edmund B. Stedman on acc't, 9 Sold for Cash, to Geo. W. Grover, Benj. H. Gwathmey 's refusal to me of 200 shares of U. S. Bank Stock, I find by examination that I have gained on the acc't of U. S. Bank Stock, Found Cash in Royal street, am't to- [36] 10,000 00 6,000 800 250 150 00 00 00 00 1,000 00 February 28, 1837. i) Sundries Dr. to Cash, John C. Colt, John Holbrook, Robert Trumble,---- $ 400 . 200 1,500 Cash New Acc't Dr. To Old Acc't,. Bank New Acc't Dr. To Old Acc't,. March 1, 1837. U. S. Bank Stock Dr. To Merchants' Bank, Merchants' Bank Dr. to Sundries, Bills Receivable, Interest, $2,035.00 20.35 Simmons' Plantation Dr. to Sundries, Merchandise, Bills Receivable, Cash, Merchants' Bank, $2,000 ...3,000 ...2,200 .. 2,800' Sundries Dr. to House No. 35 Canal St. Bills Payable, Merchants' Bank, $ 200 ... 5,800 2,100 3,577 11,878 100 00 25 75 00 2,055 35 10,000 00 6 Profit and Loss Dr. To Edmund B. Stedman,. 9 Cash Dr. To U. S. Bank Stock, U. S. Bank Stock Dr. To Profit and Loss,. Cash Dr. To Profit and Loss, [.37] 6,000 800 250 150 1,000 00 00 00 00 00 New Orleans, March 9, 1837. Sold my expected Cotton Crop for this season, on Sim- mons' Plantation, be the same more or less, to John J. As tor, for $'4,000. Rec'd in payment my Note of Jan. 16th, to George Cammack, for $'3,500.00| Interest, 34.90 Cash for balance — deposited, 465.10 10 Paid Arthur B. Crozier in Cash, to bind him in con- tract, and as part payment for one third of the steamer Hope, valued at ^10,000, which he is to deliver into my possession on her arrival in this port, or forfeit the like sum of 11 As Executor of the estate of Mrs. Mary Clinton, I have received, and hold in my possession, for the ben- efit of her son Edward, the following property : House and Lot No. 110, Camp street, valued at $15,500 100 shares Planters' Bank Stock, present value $115 per share, 11,500 Cash, deposited 958 13 Rec'd in Cash of Arthur B. Crozier, $500 refunded money, also, the like sum as forfeiture, for not delivering into my possession the steamer Hope, agreeable to contract, Rec'd of Silas A. Hudson, Cash for his note of Jan 27th, deposited 15 Paid James T. Hostetter, in Cash, to bind him in contract, and as part payment for one fourth of the steamer Sun valued at $10,000, which he is to deliver into my posses sion on her arrival in this port, or forfeit the like sum of,--- 16 Rec'd on acc't of Edward Clinton, Romulus J. Bowers' Note at 4 mo. for balance of acc't which he owes to the estate of the late Mary Clinton Paid James T. Hostetter, for the balance due him on the steamer Sun, as follows: His Note of Aug. 1st, 1836, for-- $1,700 Interest, 74 My Note at 6 mo. for 4,000 Check for balance 3,426 20 Passed my Note at 6 mo. for Sdward Clinton, to William Parry, for balance due him from the estate of the late Mary Clinton [3S] 4,000 00 500 00 27,958 1,000 1,000 800 1,400 00 00 00 00 00 9,200 1,200 00 00 March 9, 1837. 10 2 10 10 10 3 2 10 7 3 4 10 2 4 10 10 4 9 6 3 10 6 Sundries Dr. to Simmons' Plantation, Bills Payable, Interest, Merchants' Bank. $3,500.00 34.90 465.10 10 Steamer Hope Dr. To Cash,. 11 Sundries Dr. to Edward Clinton, House and Lot No. 110 Camp street, ^15,500] Planters' Bank Stock,...- 11,500 Merchants' Bank, 958 13 Cash Dr. to Sundries, Steamer Hope, Profit and Loss, S500 ..500 Merchants' Bank Dr. To Bills Receivable, 15 Steamer Sun Dr. To Cash, 16 Bills Receivable Dr. To Edward Clinton, 4,000 00^ 500 00 27,958 00 Steamer Sun Dr. to Sundries, Bills Receivable, $1,700 Interest, 74 Bills Payable, 4,000 Merchants' Bank, 3,42C 20 Edward Clinton Dr. To Bills Payable,. 1,000 1,000 800 1,400 00 00 00 00 [39] 9,200 1,200 00 00 8 New Orleans, March 27, 1837. Rec'd from the executors of my father-in-law's estate, as fol lows: Sundry Notes, amounting to $4,500 A deed for 1,000 acres of Texas lands, valued at 5,000 Cash— deposited, 10,000 Paid Henry Brown, as per contract, for rebuilding my house. No. 35, Canal st.my Note at 6 mo. for $5,000 Check for balance, 2,500 28 Paid by Check, Danforth Marble's Bill of acceptance, of Feb. 1st, sold to Alexander Anderson, March 2d, returned protested $2,035.00 Damages at 7 per cent 142.45 19,500 00 r,500 00 Paid Cash prem. to Baltimore Life Ins. Co. as insur- ance on my natural life, for their obligations in favor of my heirs, amounting to $10,000 Premium, 850 31 Rec'd the following sums this month, as per Cash Book: For Merchandise, $150 " Rent of House, No. 110, Camp street, 300 From James R. Marston, 100 2,177 10,850 45 00 Disposed of the following sums: To John C. Colt, $300 " Joseph Law, 50 «« Edward Clinton, 250 Balance of Cash on hand, as per Cash Book, Balance of Cash in Bank, as per Bank Book, 550 00 ■ New Orleans, April 1, 1837. Paid by Check, Robert Trumble's D'ft in favor of Perdy S. Geraldjon me at sight, 3 Deposited the following Notes in Bank for collection: Wm. H. Marshall's, of Jan. 3d, due 2d inst $800 F. K. Martin's, of Dec. 2d, 1836, due 5th inst 3,500 [40] 600 1,427 21,153 4,000 4,300 00 25 75 00 00 March 27, 1837. 8 1 4 10 3 2 1 10 9 10 2 2 3 3 Sundries Dr. to Stock, Bills Receivable, • Texas Lands, Merchants' Bank, $4,500 ...5,000 10,000 House No. 35, Canal St. Dr. to Sundries, Bills Payable, Merchants' Baak, |5,000 . 2^00 28 Danforth Marble Dr. To Merchants' Bank,. Bills Receivable Dr. To Expectancies,. Profit and Loss Dr. To Cash 31 Cash Dr. to Sundries, Merchandise, House No. 110, Camp St. James R. Marston, $150 ...300 ...100 Sundries Dr. to Cash, John C. Colt, Joseph Law, Edward Clinton, $300 .!. 50 ..250 Cash New Acc't Dr. To Old Acc't,. Bank New Acc't Dr. To Old Acc't, April 1, 1837. Robert Trumble Dr. To Merchants' Bank, 3 Merchants' Bank Dr. To Bills Receivable, [411 19,500 7,500 2,177 10,000 850 00 00 45 00 00 550 600 1,427 21,153 4,000 4,300 00 00 25 75 00 00 New Orleans, April 5, 1837. Tlec'd from Patent Arms Co. of Patcrson, by the brig Mar garet, Scarborough, Mdse. as per C. I. B. am't to $6,000, to be sold on their sccount. Paid Freight, Drayage, &c. by Check, $ 390 Also, by Check, their D'ft at sight, in favor of Capt. Scarborough, for 2,000 Rec'd of Gaines & Hardon, of this city, Mdse. as per C. I. B. am't to $3,000, to be sold on their account. Paid Cash for Di'ayage, &c • $ 6.50 In advance, by Clieck, 200.00 8 Sold Eleazer Porter, at 3 mo. as per C. S. B. Patent Arms Co.'s goods, am't to $800 Gaines & Hardon's do 350 10 Sold Thomas M. Kane, Jr. for his Note at 30 days, Patent Arms Co.'s goods, as per C. S. B. am't to 11 Sold McDonald & Kerkpatrick, for Cash, as per C. S. B. Patent Arms Co.'s goods, am't to--- $300 Gaines & Hardon's' do 110 From Store, as per S. B -■■> 150 12 ^- Rec'd from Robert Trumble, of Lisbon, per ship Friend Fulton, Mdse. as per C. I. B. am't to $5,760, to be sold on his account. Bonds at 3 mo. for Duties at 25 per cent, ad valorem, $1,440.00 Paid Freight, Drayage, &c. by Check, 221,50 14 Paid by Check, my Bond of Jan. 10th, at the Custom House, for 15 Sold Joseph T. Shinder the remainder of Gaines & Hardon's goods, as per C. S. B. for his Note at 3 mo. in their favor, which I have delivered to them, The whole amount of their sales is $2,240.50. My com. at 5 per cent, is, $ 112.02 Charges posted $6.50. Balance of Sales to be closed to their credit, 2,121.98 Paid Cash to James Bennett, he appearing to be the owner of this sum, which I found in Royal street on the 9th ult [42] 2,390 206 1,150 750 00 50 00 00 560 1,661 1,000 1,780 2,234 1,000 00 50 00 50 00 00 Journal. Gaines &Hardon's Sales, Gaines & Hardon, 11 Diis. Patent Arms Co.'s Sales, ■ Patent Arms Co Crs. Eleazer Porter,- Bills Receivable,- Cash, Trumble's Sales,- Bills Payable, 6 Gaines & Hardon, 11 Gaines & Hardon's Sales, 390 2,000 6 200 1,150 750 560 00 00 00 Profit and Loss, .«.. 1,661 1,000 1,780 2,234 1,000 50 00 00 11 Merchants' Bank,. Cash, Merchants' Bank,- Patent Arms Co.'s Sales, Gaines & Hardon's Sales, Patent Arms Co.'s Sales Patent Arms Co.'s Sales Gaines & Hardon's Sales Merchandise, Bills Payable,' Merchants' Bank,- Merchants' Bank, Gaines & Hardon's Sales Commission, Gaines & Hardon, Cash,- 2,390 9 00 6 200 800 350 750 300 110 150 1,440 221 1,000 1,780 112 2,121 1,000 00 50 00 00 00 00 00 00 00 00 50 00 50 02 98 [43 J 10 New Orleans^ April 15, 1837. :Rec'd from the European Man'g Co. of Calcutta, by the ship Elizabeth, Caldwell, Mdse. as per C. I. B. am't to $5,7G0, to be sold immediately on account of Duncan C. Pell, of London. Bonds at 4 mo. for Duties at 25 per cent ^1,440.00 Check for Freight, &c 950.25 Cash for Drayage,&c 15.38 17 Paid at the Orleans Bank by Check, my Note of Jan. 16th, in favor of James S. Goodrich, for $8,000 3 mo. Interest, 140 18 Total am't, as per C. S. B. Pell's Sales as sold by Ed- ward C. Blackburn, Auctioneer, is as deposited, Blackburn's \k per cent. Cash com. .•••. $178.38 Paid Cash to Porters, &c 8.50 186.88 My 3J percent, com 416.21 Advertising, ivhich I pay by the year, 3.50 19 Sent Duncan C. Pell, pursuant to order, by the Craig, Bal lenger, his acc't sales, together with bullion for balance due on acc't. Paid Cash for Premium and Insurance, $ 488.38 Check paid balance of bullion sent, 8,391.39 20 Sold for Cash — deposited, to Edward Huntington, Pat- ent Arms Co.'s goods, as per C. S. B $1,200 Trumble's do ^ 2,500 21 Sold Jas. A. Johnson, Trumble's goods as per C. S. B. $3,333.33 From Store, as per S. B 1,110.50 Rec'd in payment Robert Trumble's D'ft in his favor for $5,000, drawn at 10 days sight on Corwine & Stamper, which they refuse to accept. 'Paid the balance by Check, 22 Rec'd from Patent Arms Co. of Paterson, by the ship Har vey, Case, Mdse. as per C. I. B. am't to $8,500, to be sold on their acc't. Paid Freight, Drayage, &c. in Cash, Also, have paid by Check, for the honor of said Com- pany, their D'ft on L. Lepert, protested for non- payment, $2,801.50 My Brokerage, one-fourth per cent 7.00 [44] 2/105 8,140 11,891 606 63 00 99 59 8,879 3,700 4,443 556 430 2,808 71 OG 17 00 50 Drs. Journal 12 3 12 12 Pell's Sai fl,. Bills Payable, Interest, Merchants' Bank,- Pell's Sales, Pell's Sales,. Merchants' Bank,- Robert Trumble, Crs. 10 Patent Arms Co.'s Sales, Patent Arms Co 2,405 8,000 140 11,891 606 8,879 3,700 5,000 430 2,808 63 77 00 00 Bills Payable, Merchants' Bank,- Cash, , Merchants' Bank,- Pell's Sales,- Cash, Commission,- Expense, Cash, Merchants' Bank,- Patent Arms Co.'s Sales Trumble's Sales, Trumble's Sales, • Merchandise, Merchants' Bank,- Cash Merchants' Bank,- Interest, 1,440 950 15 8,140 11,891 186 416 3 488 8,391 1,200 2,500 3,333 1,110 556 430 2,801 7 00 25 38 00 99 88 21 50 38 39 00 00 33 50 17 00 50 00 r 45 1 11 New Orleans, April 26, 1837. Sold for Cash — deposited, the remainder of -Robert Trumble's goods as per C. S. B. am't to / now render him an acc't sales, and transfer the bal- ance to his personal acc't. Amount of Sales, §'7,843.83, My com. at 5 per cent, is -$392.19 Charges posted, $1,661.50. ' Balance of sales in his favor, $5,790.14 28 Sold for Cash to Edward Warren, Patent Arms Co.'s goods as per C. S. B $l,500i From Store, as per S. B 500; 29 Paid in Cash Patent Arms Co.'s D'ft in favor of Wm. T. Smith on me at sight, $1,000 Also by Check, theirs of the 11 inst. at sight in favor ofWm.H. January, 2,000 Rec'd the following sums this month, as per Cash-Book: From Merchants' Bank, $1,000 « John Holbrook,... 1,386 Disposed of the following sums: To Merchants' Bank — deposited---- " John C. Colt, " Joseph Law, " Expense, •••- •$2,000 450 150 300 Balance of Cash on hand, as per Cash-Book,- Balance of Cash in Bank, as per Bank-Book, New Orleans, May 1, 1837. Shipped per brig James, Lamb, and consigned to Robert Trumble, Lisbon, to be sold on my acc't Mdse. from store as per L B. am't to $3,000.00 Cash paid shipping expenses, 114.50 Sold for Cash to Normand Knox, at 1 per cent. prem. my D'ft on Robert Trumble, Lisbon, for--. • $1,000 Premium, • 10 [40 1 2,010 6,182 2,000 3,000 2,386 2,900 ^6 13,405 3,114 1,010 50 33 00 00 00 00 u 43 50 00 3 11 Drs. Merchants' Bank,. Trumble's Sales,- •• Cash,. U Patent Arms Co. Cash,- 12 Merchants' Bank,- John C. Colt, Joseph Law, Expense, Cash New Acc't, Bank New Acc't,- Shipment to Lisbon, Cash' Journal. 11 Crs. 2,010 6,182 2,000 00 3,000 00 2,386 2,000 450 150 300 346 13,405 00 Trumble's Sales, Commission, Robert Trumble, Patent Arms Co.'s Sales,-- Merchandise Cash, Merchants' Bank,- Merchants' Bank,- John Holbrook, ••• Cash, Cash Old Acc't, Bank Old Acc't,- 3,114 1,010 50 00 Merc\.andise, Cash, Robert Trumble, Interest, 2,010 392 5,790 1,500 500 1,000 2,000 50 19 14 00 00 00 00 1,000 1,386 2,900 00 00 00 346 13,405 11 43 3,000 114 00 50 1,000 10 00 00 [47 ] 12 New (Means, May 5, 1837. Shipped per Nelso, Delvin, nnd consigned to Robert Trumble, Lisbon, to be sold on my acc't as follows: 3,000 bis. Flour © $5, bought of William S. Mcllvain, by Check, $15,000.00 3,600 bushels Corn,© 75(|? bought of D. Sayers on L. Shafer's Note, 2,700.00 Mdse. from Store, as per I. B. 2, am't to 1,203.50 Paid Cash to the Protection Ins. Co. for prem. of Insur- ance on .$10,000, at 2 per cent, and Policy $1.25, 201.25 Cash paid shipping expenses, 109.06 Sold at 1 per cent. prem. to James N. Reynolds, through Charles A. Tureman, broker, my D'ft drawn at 10 days sight, on Robert Trumble, for $5,000 Also, at 1 per cent, my D'ft at 15 days sight, for 5,000 10,000 Rec'd in payment Reynolds' Note at 30 days, for $5,000 Cash for balance — deposited, 5,075 1 per cent. prem. is $100 Tureman's i per cent. com. is 25 Gain,. .75 Shipped per William Ward, and consigned to Charles Stewart, Havana, per order, and for acc't and risk of Robert Trumble, Lisbon, Mdse. from Store, as per I. B. 2, am't to $900.00 Paid Shipping and Insurance, by Check,-- 70.00 My 3 per cent, com 29.10 10 Rec'd Cash— deposited, from Thomas M. Kane, Jr. Note April 10th,- Rec'd an acc't sales of my first consignment to Robert Trumble, Lisbon, Net am't, Paid by Check, Robert Trumble's D'ft in favor of Geo. W. Goodhue, on me at sight,- 11 Rec'd an acc't sales of my second consignment to Rob't Trumble, Lisbon, Net am't Gain on the acc't of Shipment to Lisbon,- [48] 19,213 10,075 SI 00 999 750 3,705 500 23,210 4,587 10 00. 10 00 95 74 Drs. 12 Shipment to Lisbon, 4 Bills Receivable,- •• 3 Merchants' Bank,- Robert Trumble, Merchants' Banlc,- Robert Trumble, 7 Robert Trumble, 12 Robert .Trumble, Shipment to Lisbon, Journal. Crs. 19,213 81 5,000 5,075 999 750 3,705 500 23,210 4,587 10 00 10 00 95i Merchants' Bank,- Bills Receivable,-- Merchandise, Cash, Robert Trumble, Interest, 74' 7 Merchandise, Merchants' Bank, Commission, Bills Receivable,- Shipment to Lisbon, Merchants' Bank,- Shipment to Lisbon, Profit and Loss,- [49] 12 15,000 2,700 1,203 310 00 00 50 31 10,000 75 900 70 29 00 00 750 3,705 500 23,210 4,587 00 00 10 00 10 00 95 74 13 New Orleans, May 11, 1837. Drew, as directed, on Messrs. J. L. & S. Josephs, of New York, ibr the balance due on Robert Truinble's aco't, and sold said D'ftal i per cent. prem. to Alex- ander C. Cummings for Cash — deposited, ^19,555.01 Premium, 48.88 12 John Holbrook has shipped per Biddle, Leonard, and consigned to Wm. Begg, Buenos Ayres, (Co. A) to be sold on our joint accH, 1,200 bis. Flour, at $4.25, $5,100 lOhhds. 1,000 gs. Molasses, at 22(^ 220 19,603 89 My half is. 5,320 13 Shipped per Robinson, Hunt, and consigned to John Russ, Carraccas, to be sold on his acc't and risk, Wm. Ellery and mine, as follows: Mdse. as per I. B. bo't of Robert Reed by Check,.- 13,500.00 do. do. John Thomas, for my Note at 3 mo. 1,572.00 Wm. Ellery has put in 200 bis. Flour, at $4, 800.00 He has also paid insurance to the Protection Ins. Co. on a part of this Shipment, 50.00 Cash paid shipping expenses, 98.85 Russ' third, Ellery's do My (Co.D.) do. $2,006.95) 2,006.95S 2,006.95^ 17 6,020.85 John Holbrook received per the Junius, Took, an acc't sales of our shipment to Buenos Ayres (Co. A.) Total net sales, $5,013.50. My half is, • $2,506.75 Paid by Check to said Holbrook, my half loss, 153.25 Loss on Shipment to Buenos Ayres, (Co. A.)- 19 Sold for Cash — deposited, at 2 per cent. prem. my D'ft in favor of Geo. D. Prather, drawn at 10 days sight on John Russ, Caraccas, for $2,500 Premium, 50 24 Rec'd Cash — deposited, of Wm. Ellery, in full for bal- ance on his ac/".'t for Mdse. shipped to Caraccas, [50] 2,660 00 6.020 8ii 2,660 153 00 25 2,550 1,156 00 95 Drs. Journal. 13 Crs. 13 12 13 13 Merchants* Bank,- Shipment to Buenos Avres, Co. A John Russ, William Ellery* Shipment to Caraccas, Co. D John Holbrook, Profit and Loss, Merchants' Bank,- Merchants' Bank,- 19,603 2,660 2,006 2,006 2,006 89 00 2,660 153 2,550 1,156 9 00 25 00 95 Robert Trumble, Interest, John Holbrook, Merchants' Bank,- Bills Payable, William Ellery,--.- Cash, 12 12 13 Shipment to Buenos Ayres, Co. A Merchants' Bank, Shipment to Buenos Avres, Co. A 19,555 48 2,660 3,500 1,572 850 98 2,506 153 01 88 00 00 00 00 85 75 25 John Russ, Interest, William Ellery, 153 25 2,500 50 1,156 00 00 95 [511 14 New Orleans, May 26, 1837. Rec'd per brig America, from John Russ, Caraccas account sales of Mdse. sent him on acc't Co. D. Total net aniH $7,759.11— my third is • Also, received in specie — deposited, the balance said Russ owes on acc't, Gain on account of shipment to Caraccas, Co. D.- 27 Shipped per Britton. Canadia, and consigned to Alexander Hamilton & Co. Halifax, to be sold on their acc't and ri&k, Joseph Law's and mine, as follows: Mdse. from store, as per I. B. 2, am't to $2,500 2,000 bis. Flour (a) $3. bought of Clark & Buckner by Check, 6,000 Cash paid shipping expenses, &c. 347 Hamilton & Go's third is $2,949,^ Law's do. 2,949, V $8,847 My (Co. E.) do. 2,949.> 31 Received the following sums this month, as per Cagh Book: From Gaines & Hardon, $1,156.52 Steamer Sun — acc't freight, 1,500.00 House No. 110, Camp street — acc't rent 500.00 Planters Bank Stock — dividend, 345.00 Disposed of the following sums: To John C. Colt, $250 " Expense 139 Lent Brown & Edwards 3,000 Balance of Cash on hand as per Cash Book, Balance of Cash in Bank as per Bank Book, New Orleans, June 1, 1837. Paid Wm. Gosling by C ;ck, ^For 100 hhds. 1 1,000 i =.. Molasses, at 27(|? (No. 1,) $2,970.00 Cash paid Drayage, & • 28*50 Sold James W. Carr, fa) 3 mo. ^50 hhds. 5,500 gs. Molasses, at 31(^ (No. 1,). 2,586 2,093 579 37 32 43 8,847 00 3,501 3,389 597 19,411 52 00 97 34 2,998 1,705 50 00 r 52] Drs. Journal. Crs. 14 12 3 13 13 8 13 2 14 6 John Russ, Merchants' Bank,- Shipment to Caraccas, Co. D Alexander Hamilton &Co Joseph Law, Shipment to Halifax,Co.E. Cash,- John C. Colt,--- Expense, Loan Account, Cash New Acc't, Bank New Acc't,. Molasses No. 1,. James W. Carr,. 2,586 2,093 579 2,949 2,949 2,949 3,501 250 139 3,000 597 19,411 2,998 1,705 42 52 50 00 12 Shipment to Caraccas, Co. D John Russ,-. Profit and Loss,- Merchandise, Merchants' Bank,- Cash, Gaines & Hardon, Steamer Sun, House No. 10, Camp St. Planters' Bank Stock, •-• 14 Cash, Cash Old Acc't, Bank Old Acc't,- Merchants' Bank, Cash, Molasses,No. 1,- 2,586 2,093 579 2,500 6,000 347 1,156 1,500 500 345 3,389 597 19,411 2,970 28 1,705 37 32 42 00 00 00 52 00 00 00 00 97 34 00 50 00 1 o^ 1 15 New Orleans, June 6, 1837. BoH of Alex. C. Power by Check, on joint acc't with Eliphas B. Hibbard, (Co. A.) <^4,000 bis. Flour, at $5, $20,000.00 Cash paid Drayage, Cooperage, &c 22.50 I ain to have one per cent. com. for doing the business, and have received Eliphas B. Hibbard's Note at 30 days for his half first cost, Rec'd Cash — deposited, money lent Brown & Edwards,. . — 11 Sold for Cash— deposited, to Oliver H. P. Thomas, <^ 50 hhds. 5,500 gs. Molasses, at 30(t? (No.l,) $ 1,650 2,000 bis. Flom-, at |5.25, (Co. A.) 10,500 12 On examining Molasses acc't. No. 1, 1 find I have gained,- 14 Sold for Cash — deposited, to Edwin Forrest, ^2,000 bis. Flour, at |5.25, (Co. A.) 16 On examining the acc't of Flour, (Co. A.) I find the total sales am't to g21,000;my 1 per cent. com. is f 210.00 Charges posted $20,022.50; 4- 210,= |20,232.50. Leaving a nett gain of $767.50. My half is $383.75 Efiphas B. Hibbard's is 383.75 767.50 19 Paid Eliphas B. Hibbard for balance due on acc't of Flour speculation, as follows: His Note of the 6th inst. for $10,000.00 Check for balance, 383.75 20,022 10,000 3,000 12,150' 356 10,500 21 50 00 00 00 50 00 977 50 Paid by Check to Chas. A Miller, my Note of Feb. 21st, $5,000 Interest, 100 22 Joined Wm. May, (Co. R.) in purchase of Sugar, he is to do the business without com. and divide the gain or loss equally, viz: ^200 hhds. 10 cwt.=2,000 cwt. Sugar, at $11,=$22,000. Paid him as follows: By balance due on acc't, $ 110 Check in full, 10,890 25 Rec'd of Wm. May acc't sales of Sugar, (Co. R.) made on our joint acc't — my half proceeds is [54] 10,383 5,100 11,000 12,000 75 00 00 00 Di Journal. 15 14Flour, Co. A 4 Bills Receivable,- 14 14 Merchants' Bank,- Merchants' Bank,- Molasses, No. 1, Merchants' Bank,- Flour, Co. A. Eliphas B. Hibbard, Bills Payable, Interest, Sugaij Co. R. William May,.-.-v.. 20,02-2 10,000 3,000 12,150 356 10,500 977 10,383 5,000 100 11,000 12,000 75 00 00 14 Merchants' Bank, — Cash, Eliphas B. Hibbard, Loan Account,- Molasses, No. 1, Flour, Co. A Profit and Loss,- Flour, Co. A. Commission,- Profit and Loss, Eliphas B. Hibbard,. Bills Receivable,-- Merchants' Bank,- Merchants' Bank,- William May, Merchants' Bank, Sugar, Co. R. 20,000 22 10,000 3,000 1,650 10,500 356 10,500 210 383 383 00 50 00 00 00 00 50 00 00 75 75 10,000 383 5,100 110 10,890 12,000 00 75 00 00 00 00 [ 55 1 t« New Orleans, June 25, 1837. On examining acc't of Sugar (Co. R.) I find I have gained- - 26 Lent by Check to Edwin A. Bryson,- Rec'd of \Vm. May, Cash — deposited, the full am't due on our Sugar speculation, 28 Bo't bv Check of Herman, Brigs & Co. 480'bales, 150,000 lbs. Cotton, at 10(^ (No. !.)• Rec'd of Edwin A. Bryson, Cash — deposited for this sum lent him on the 26th inst • Paid by Check, six mo. rent of Store, Expense to Joseph Law for 6 mo. services,- 30 Rec'd the following sums this month, as pef Cash Book From James H. Rice, « James R. Marston, 330 1,000 5,000 12,000 15,000 5,000 900 600 Disposed of the following sums; To Wm. May, " Expense, « John C. Colt, " James W. Carr, -$220 -. 121 --225 -202 Balance of Cash on hand, as per Cash Book,- Balance of Cash in Bank, as per Bank Book, I find by examination, I have gained during the last six months, on each of the follow^ing accounts: Merchandise, t Simmons' Plantation, Steamer Sun, I find by examination, I have lost by House No. 35, Canal street, I find by an examination, that there has been a gain on the Estate of Edward Clinton, as follows: On House No. 110, Camp street, •--- " Planters' Bank Stock, - My 5 per cent, on ,§1,145, am't collected on Edw'd Clinton's Estate, is f 56 1 00 00 00 00 00 00 00 1,158 00 768 936 1,817 2.609 4,000 1,500 1,250 800 345 00 97 59 97 00 00 00 00 00 57 Journal. Drs. 14 13 4 14 Cash, William May,.--- Expense, John C. Colt, ■•-. James W. Carr,. 1 9 10 Cash New Acc't, Bank New Acc't, Merchandise, Simmons' Plantation, Stea«mer Sun, 7 Profit and Loss,- 10 10 10 Crs. ou^ai, \JKJ* It 1 IVTArr^hnn t<3' Tinnk Cnttf^n IVo 1 T^.vnpn^p 1,000 5,000 12,000 15,000 5,000 900 600 1,158 2-20 121 225 202 936 1,817 2,609 4,000 1,500 1,250 00 00 Profit and Loss,- Merchants' Bank, William May, • 4 Merchants' Bank, House No. 110, Camp St. Planters' Bank Stock, 00 Edward Clinton, Loan Account,- Merchants' Bank,- Joseph Law, James H. Rice, James R. Marston,- Cash, Cash Old Acc't, 4 Bank Old Acc't,- 800 345 57 or; 10 Profit and Loss, 1,000 5,000 12,000 15,000 5,000 16 00 00 00 00 00 House, No. 35, Canal St. Edward Clinton,- Profit and Loss,- 900 600 828 330 768 936 1,817 2,609 4,000 1,500 00 00 1,250 00 00 00 00 97 59 97 00 00 800 345 57 00 00 25 [ 57 ] 17 Journal^ continued, June 30, 1837. 7 9 12 15 1 2 4 4 4 5 5 7 8 9 9 10 10 10 10 11 13 13 14 15 6 10 11 11 1 15 Profit and Loss Dr. to Sundries, John C. Colt, Expense, Sundries Dr. to Profit and Loss, Interest, Commission, Profit and Loss Dr. To Stock,. Balance Dr. to Sundries, Merchandise, Cash, * Merchants' Bank, House and Lot No. 35, Canal St.-- Bills Receivable, Edmund B. Stedman, • John Hoi brook, Eleazer Porter, Joseph Law, Danforth Marble, Simmons' Plantation, House and Lot No. 110, Camp St. Planters' Bank Stock, Steamer Sun, ■ Texas Lands, Patent Arms Co Alexander Hamilton & Co Shipment to Halifax, Co. E Cotton, No. 1, Sundries Dr. to Balance, Bills Payable, Edward Clinton, Expectancies, Patent Arms Co.'s Sales,- Stock Dr. To Balance, [58] 1,725 2,206 66 1,159 9,366 5,000 936 1,817 10,000 27,300 825 2,365 2,038 2,599 2,177 10,000 15,500 11,500 10,000 5,000 7,808 2,949 2,949 15,000 15,074 28,995 10,000 3,730 77,966 00 50 86 52 26 00 97 59 00 00 00 00 50 00 45 00 00 00 00 00 50 00 00 00 00 75 00 00 26 LEGEK. A. ifio) ALPHABET TO THE LEGER. A. 1. Interest, etc 9 S. Stock, 1 Stedman Edmund B. -5 Simmons' Plantation, 9 Steamer Hope, 10 Steamer Sun, 10 Ship't to Lisbon, 12 Ship't to Buenos Ayres Co. A 12 Ship't to Caraccas, Co. D 13 Ship't to Halifax, Co. E 13 Sugar, Co. R 14 B. Bills Receivable, 4 Bills Payable, 6 Balance, 15 K. L. Law Joseph, 8 Loan Account, 13 C. Cash, 2 Caldwell John, 5 Carr James W 6 Colt Tohn C 8 M. Merchandise, 1 Merchants' Bank, 3,4 May William, 6 Marston James R 9 Marble Danforth, 9 Molasses, No. 1, 14 Clinton Edward, 10 Commission, 12 Cotton, No. 1 14 T. Trumble Robert, 7 Texas Lands, 10 Trumble's Sales, 11 D. N. U. U. S. Bank Stock, 9 E. Expense, 8 Expectancies, 11 EUery William, 13 0. V. P. Porter Eleazer, 7 Profit and Loss, 7 Planters' Bank Stock, 10 Patent Arms Co.'s ■ Sales, 11 Patent Arms Co 11 Pell's Sales, 12 Flour. Co. A 14 W. G. Gaines & Hardon, G Gaines & Hardon's Sales, 11 X. Y. Q. H. House and Lot No. 35, Canal St 4 Hewes Samuel, 5 Holbrook John, 5 ! House and Lot No. 1 110, Camp St. 10 Hamilton Alex. & Co. 13 Hibbard Eliphas B., .-14 1 Z. The Alphabet or Index to the Leger, is usually kept, in real busi- ness, in a pamphlet book separate from the Leger. R. Rice James H 5 Russ John, 12 1)0 ] 1837 Jan. June Dr. Sundries,. Balance^ • STOCK. 8,700 77,960 86,666 26 1837 Jan. Mar. June Cr. Sundries, do 77,300 Projit and Loss, MERCHANDISE. Dr. Cr. 1837 Jan. Feb. June Stock, Gaines & Hardon William May,--.. Sundries, Bills Payable, M. Bank, Sundries, Jas. R. Marston, Sundries, do Projit ana Loss, 20,000 800 500 5,490 11,500 200 8,900 15 900 4,125 2,609 1837 Jan. Feb. 4 6 10 13 16 21 25 26 a 28 4 8 13 20 23 a 25 28 u 2 31 11 21 28 1 5 8 27 30 William May, Gaines & Hardon John Holbrook, •• James W. Carr, Sundries, Bills Receivable, Eleazer Porter, James H. Rice, John Holbrook, Bills Payable, Ed'd B. Stedman, Sundries, James W. Carr, James H. Rice, Cash, Sundries, John Holbrook, Sundries, Cash, S. Plantation,---- Cash, do Robert Trumble, Cash, Ship't to Lisbon, do Robert Trumble Sundries, Balance, 60,039,97 890 1,798 1,226 100 8,625 3,300 1,038 5,000 960 •578 1,125 2,486 843 1,028 263 869 665 5,650 2,080 2,000 150 150 1,110 500 3,000 1,203 •900 2,500 5,000 55,039 97 00 00 00 00 00 00 50 00 00 00 00 00 00 00 52 70 00 25 00 00 00 00 50 00 00 50 00 00 00 Dr. CASH. Cr. 1837 1837 r Jan. 1 Stock, 1 5O0 00 Jan. 31 Sundries, 3 2,200 00 16 Mdse. 2 625 00 New Acc't, 3 2,425 00 26 James H. Rice, 2 900 00 . 27 John Caldwell, 3 100 00 ^^ 31 Sundries, 3 2,500 00 00 00 Fob. 15 ^^--"'^ 4,625 4,625 00 Feb. 1 Old Acc't, 3 2,425 Bills Receivable, 4 1,300 00 8 Mdse. 3 486 00 28 Sundries, 6 2,100 00 20 James H. Rice, 4 300 00 (.i New Acc't, 6 3,577 25 i 23 Mdse. 4 263 52 . " do. 5 782 73 y^ ( 24 Jas. R. Marston, 5 55 00 y^ ( i7 Sundries, 5 135 00 y^ 18 do. 5 6 2,530 00 25 25 Mar, 2 X 6,977 - 6,977 25 Mar. 1 Old Acc't. 3.577 S. Plantation, 6 2,200 00 9 U. S. Bank Stock, 6 250 00 10 Steamer Hope, 7 500 00 ' Profit and Loss, 6 1,000 00 15 Steamer Sun, 7 800 00 1 3 Sundries, 7 1,000 00 28 Profit and Loss, 8 850 00 »■ a 1 do. 8 550 00 31 Sundries, 8 600 00 25 25 Apr. 7 New Acc't, 8 1,427 25 = 6,377 6,377 25 Apr, 1 Old Acc't, 8 1,427 Gaines & H.'s Sales, 9 6 50 1 1 Sundries, 9 560 00 15 Profit and Loss, 9 1,000 00 2 8 do. 11 2,000 00 « Pell's Sales, 10 15 38 2 9 do. 11 2,386 00 18 19 22 29 do. do. Pat. Arms Go's Sales, do. Sundries, 10 186 10 488 10 430 11 1,000 11 2,900 88 38 00 00 00 /^ 25 11 May ii. 1 New Acc't, 11 346 11 6,373 6,373 25 May 1 Old Acc't, 11 346 Ship't to Lisbon, 11 114 50 3 Sundries, 11 1,010 00 5 do. 12 310 31 3 1 do. 14 3,501 52 13 27 31 Sundries, do. do. 13 98 14 347 14 3,389 85 00 00 ^^-^ June a 1 New Acc't, Molasses, No. 1, 14 597 97 4,857 63 97 4,857 63 June 1 Old Acc't, 14 597 14 28 50 , 3 Sundries, 16 1,158 00 6 Flour, Co. A. 15 22 50 i ^„--^ 30 Sundries, 16 768 00 ^-^^ 16 June 30 New Acc't, Balance^ 16 936 97 1,755 97 97 1,755 97 June 3 Old Acc't, 936 17 936 97 1 [62] MERCHANTS' BANK. Dr. Cr. 1 16 31 1 6 28 1 2 4 9 11 13 27 1 3 18 20 26 29 Stock, Mdse." Cash, • Old Acc't. Bills Receivable, Mdse.- Old Acc't. Sundries, House No. 35 Canal St. S. Plantation, Edward Clinton, Bills Receivable, Stock, May Old Acc't. Bills Receivable, Pell's Sales, Sundries, Trumble's Sales, Cash, 1 6 10 11 19 24 26 Old Acc't Sundries, Bills Receivable Sundries, do. William Ellery,' JohnRuss, 14,500 3,000 2,000 19,500 19,010 500 2,400 21,910 11,878 2,055 5,800 465 958 1,000 10,000 32,157 21,153 4,300 11,891 3,700 2,010 2,000 1837 Jan. Feb. Mar. 45,056 13,405 5,075 750 19,603 2,550 1,156 2,093 44,634 24 Apr, May Mdse. New Acc't- Mdse Sundries do Danforth Marble, Mdse. James R.Marston Mdse New Acc't U. S. Bank Stock S. Plantation, Steamer Sun, House No. 35 Canal St. Danforth Marble, New Acc't. •••• Robert Trumble. Sundries, Gaines &:Hardon, Trumble's Sales. Bills Payable, Pell's Sales, Sundries, Pell's Sales, Robert Trumble Patent Arms Co. do. Cash, New Acc't. •••• Ship't to Lisbon, Robert Trumble, do Sundries, John Hoi brook,- Sundries, New Acc't 490 19,010 19,500 200 2,001 1,020 2,035 3,900 500 375 11,878 21,910 00 00 00 00 50 00 00 00 00 00 75 25 100 2,800 3,426 2,500 2,177 21,153 32,157 4,000 2,390 200 221 1,000 950 8,140 8,391 556 2,801 2,000 1,000 13,405 45,056 15,000 70 500 3,500 153 6,000 19,411 44,634 00 00 00 00 45 75 20 00 00 00 50 00 25 00 39 17 50 00 00 43 24 00 00 00 00 25 00 34 59 [ G3] MERCHANTS' BANK. Dr. Cr. 1837 June l|01d Acc't. •• Loan Acc't. 11 14 20 2S June 30 Sundries, FJour,Co. A- William May,- Loan Acc't. ••• Old Acc't. 14 15 ID 16 19,411 3,000 12,150 10,500 12,000 34 00 00 00 00 1837 June 1 6 19 21 22 10 5,000 00 34 26 28 30 62,061 16 1,817 59 'June 30 1 Molasses, No. 1,- Flour Co. A. •••• E. B. Hibbard, • Sundries, Sugar Co. II. •••• Loan Acc't. Cotton No. I.--- Expense, New Acc't. Balance, 14 2,970 15 15 20,000 383 15 15 16i 5,100 10,890 5,000 16 15,000 10; 900 16 17 1,817 62,061 1,817 00 00 75 00 00 00 00 00 59 34 59 Dr. HOUSE AND LOT No. 35, CANAL STREET. Cr. 1837 Jan. Feb. Mar 27 Stock, Bills Payable,- Sundries,- 17,700 10,000 200 7,500 17,700 1837 Feb. Mar- June 00 Cash, Sundries, 6,450 Pro/it and Loss... Balance, 450 00 6,000J00 1,250|00 10,000 00 17.700 00 BILLS RECEIVABLE. Dr. Cr. 1837 Jan. Feb. Mar. Apr. May June 1 9 16 21 26 27 15 20 25 28 16 27 28 10 6 6 Stock, Samuel Hewes, Mdse. do. "•• James H. Rice, Bills Payable, •-• John Caldwell, Cash, J. R. Mars ton, Danforth Marble, Mdse. • Edward Clinton, Stock Expectancies,-- Patent Arms Go's Sales, Sundries, E. B. Hibbard,... 65,585 5,700 2,100 2,000 3,300 2,700 1,000 500 1,300 800 2,035 2,500 1.400 4.500 10,000 750 5,000 10,000 55,585 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 00 1837 Feb. Mar. Apr. May June M.Bank, Robert Trumble, Sundries, M. Bank, S. Plantation,-- M. Bank, Steamer Sun, •• M. Bank, Ship't to Lisbon, M. Bank, E. B. Hibbard, 26,285 Balance. [ 64] 500 1,300 1,000 2,035 3,000 1,000 1,700 4,300 2,700 750 10,000 27,300 00 00 00 00 00 00 00 00 00 00 00 00 Dr. EDMUND B. STEDMAN 1837 Jan. Feb. Stock, Mdse. John Holbrook, 3,62j 1S37 1 2,300 00 Jun. 31 3 1,125 00 Mar. C 5 200 00 June 30 3,625 00 Cash Profit and Loss, Balance^ •• 2,800 2,000 800 3,(i2'5 00 00 00 00 Dr. 17371 Jan. 1 Stock, SAMUEL HEWES. Cr. 2,100 00 1837 Jan. 9| Bills Receivable, 1 2,100 00 Br. JOHN HOLBROOK. 1837 Jan. Feb. May 17 Sundries Stock •• Mdse."-- do- do.- Cash, Cr. 1,000 1,226 960 665 200 2,660 6,711 0) 1837 Feb. Apr. May June Expense, E. B. Stedman, Cash, Ship.toB.Ayres, 4,34« Balance^ •• 100 200 1,386 2,660 2,365 00 00 00 00 00 00 Dr. JAMES H. RICE. Cr. 1837 Jan. Feb. '^ Stock, Mdse. • do.- 500 5,000 1,028 6,:)2S 11837 Jan. Feb. June Sundries, Cash, Sundries, Cash, 4,100 500 1,100 828 6,528 00 00 00 00 00 Dr. JOHN CALDWELL. Cr. 1837 Jan. Stock, 1 1,200100 18371 I Jan. 27 Sundries, 3 1,200,00 [65 ] c WILLIAM MAY. Dr. Cr. 1837 Jan. June Mdse. Sugar Co. R. do. do. 1837 Jan. June Stock, Mdse. Sucar Co. R M^Bank, ••• GAINES & HARDON. Dr. Cr. 1837 Jan. Apr. Mdse James H. Rice, M. Bank, Gaines & Hardens Si's 1,798 500 200!00 1,780 4,278 1837 Jan. Apr. May Stock, Mdse. Gaines &. Havdon's Si's Cash, JAMES W. CARR. Dr. Cr. 1837 Jan. •Feb. June Mdse Eleazer Porter, Mdse. Molasses No. 1, Cash, 1837 2 100 00 Jan. 1 o 150 00 4 843 00 14 16 1,705 202 001 00 3,000 00 — L = Stock, BILLS PAYABLE. Dr. Cr. 1837 Jan. Feb. Mar. Apr. June 16 Mdse 28 Sundries,- • 6 M. Bank, 8 28 4 9 14 17 21 30 Mdse. do House No. 35 Canal St S. Plantation, M. Bank, do do. Balance, 17 3,000 1,000 2,000 2,000 750 200 3,500 1,000 8,000 5,000 15,074 41, .524 1837 Jan. Feb. Mar. Ap'l. May 00 Stock, Mdse Robert Trumble Mdse. Bills Receivable, Bills Payable," •• House No. 35,Canai Stj Mdse. do Steamer Sun, Edward Clinton, House No. 36 Canal St. Trumble's Sales, Pell's Sales, Sundries, 41,524 5,000 1,000 2,000 11,500 1,000 422 200 5,000100 750 4,000 1,200 5,000 1,440 1,440 1,572 41,524 00 00- 00 00 00 00 00 00 00 00 00 00 00 00 00 Dr. ROBERT TRUMBLE, LISBON. Cr. i837 Jan. Feb. Apr. May 13 17 '22 28 1 21 8 10 11 Bills Payable, M.Bank, Sundries, — Cash, M.Bank, Sundries, do Ship't to Lisbon, M.Bank, Ship't to Lisbon, 1837 Jan. Feb. Apr. May Mdse do Trumble's Sales, Cash, Sundries, M.Bank, 1 4,000 5 3,000 11 5,790 11 1,000 12 10,000 13 19,555 13,345 00 00 14 00 00 01 15 Dr. ELEAZER PORTER.' Cr. f837 fan. \pr. 25 Mdse Sundries,. 2,188.60 1837 Jan. June James W. Carr, Balance 150 2,038 ■2488 00 50 50 PROFIT AND LOSS. Dr. Cr, 1837 Jan. Mar. Apr. May June John Caldwell, • E. B. Stedman,- Cash, do Sh'ptto B. AyresCo. A. 3,40S.Z5 House Ko. 35 Canal St. 4,653.25 John C. Colt, Expense., Stock, 1837 Mar. U. S. Bank Stock, Cash, do Shp't to Lisbon, Shp'i to Caraccas Co.D. Molasses No. 1. Flour Co. A Sugar Co.R 8,657.41 Merchandise, •■ S. Plantation,- • Steamer Sun,-- Edward Clinton. 16,44.83 Interest, Commission,---- 00 00 00 74 42 50 75 00 97 00 00 25 m 52 Ol [07] 8 Dr. TOSEPH LAW. Cr. 1837 Jan. Mar. Apr. May Cash, do. do. Sundries, 3,199 1837 3 ryO 00 June 28 ^ JO 00 30 lli 150 00 14 2,949 00 3,199 00 Expense, Balance, eooioo 2,599 00 3,199 00 JOHN C. COLT. Dr. Cr. 1837 Jan. Feb. Mar. Apr. May June Cash, do. do. do do do 1,725 100 400 300 450 250 225 1,725 00 1837 June 30 Profit and Loss^ EXPENSE. Dr, 1837 Jan. Feb. Apr. May Tui>e 31 17 29 31 28 (( 30 Cash, •. John Hoi brook, Cash, do M. Bank, Joseph Law, Cash, = Cr. [68] Apr. June Pell's Sales, Profit and Loss, INTEREST, DISCOUNT, BROKERAGE, PREMIUM, PROTEST, &c. 9 Dr. Cr. 1837 Feb. Mar. Apr. June M.Bank, do Mdse S. Plantation, M. Bank, do 383^7 Profit and Loss, 1 20 86 31 140 100 66 45U 23 1837 Feb. Mar. Apr. May Robert Trumble, Sundries, M.Bank,. Steamer Sun,---- Patent Anns Co Cash, Sundries, M.Bank, do 450,23 130 35 20 74 7 10 75 48 50 "450 00 00 35 00 00 00 00 88 00 23 DANFORTH MARBLE. Dr, Cr. 1837 Feb. 17 28 M Bqnk 4 2,035 00 1837 Feb. 1 June 25 30 Bills Receivable, 5 2,035 00 Mar M.Bank, 8 2,177 45 17 2,177 45 ... Dr. 1837 Feb. 24 M. Bank. JAMES R. MARSTON. 500 500 00 00 1837 Feb. Mar. June Sundries Cash, do Cr. 70 100 330 500 00 00 00 00 Dr. 1837 Mar. U. S. BANK STOCK. M.Bank, Profit and Loss, 100 150 250 1837 Mar. Cash, Or. 250 250 00 00 SIMMONS' PLANTATION. Dr. 1837 Mar. June Sundries, Projlt and Loss... 10,000 4,000 14.00!) 1837 Mar. June Sundries,- Balance, ■ [ 69] Cr. 4,000 10,000 14,000 00 00 00 10 STEAMER HOPE. Dr. Cr. 1837 Mar. 10 Cash, 500 00 1837 Mar. 13 Cash, 500 00 EDWARD CLINTON. Dr, Cr, 1837 Mar. June 20 31 30 Bills Payable,-. Cash, 1,450 Profit and Loss, Balance, 1,'200 250 57 28,995 30,503 00 00 25 75 00 1837 Mar. June Sundries, Bills Receivable, 29,368 House Ao.lia Camp St Planters^ Bank Stock,.. 27,958 1,400 800 345 30,503 00 00 00 00 00 HOUSE AND LOT No. 110 CAMP STREET. Dr. Cr. 183" Mar June Edward Clinton, do ■ 15,500 800 16,300 00 1837 Mar. May June Cash, do.. Balance. 300 500 15,500 16,300 00 00 00 00 Dr. PLANTERS' BANK STOCK. Cr. 1837 Mar. June Edward Clinton, do. • 11,500 345 11,845 111837 OOllMay 31 June 30 Cash, Balance, 345 11,500 11,845 00 00 00 Dr. STEAMER SUN. Cr. 1837 Mar. June Cash, Sundries, 10,000 Projit and Loss, 16 800 9,200 1,500 11,500 1837 May June 30 Cash, • • . • Balance. 1,500 10,000 11, .500 00 00 00 TEXAS LANDS. Dr. Cr. 1837 Mar. 27 Stock, 5,000 1837 June 00 [70 J 30 Balance. 17 5,000 00 Dr, 1837 June ZOlBalance, EXPECTANCIES. 10,000 00 1837 Mar. 28 Bills Receivable, Cr. 11 10,000 00 Dr. PATENT ARMS CO.'S SALES. Cr. 1837 Apr. Jun. I 5 22 30 M. Bank,- Cash, Balance^ • 390 430 3,730 4.550 1 1837 1 00 00 Apr. 8 10 00 11 20 28 00 ^= :=. Eleazer Porter, •• Bills Receivable, Cash, M. Bank, Cash, 25 00 Dr. 1837 May JOHN KUSS. Sundries, S't. to Caraccas, Co. D. 2,006 2,586 4,593 1837 May M. Bank,. do... 72 ] Cr. 2,500 2,093 ■4;59^ 00 32 32 WILLIAM ELLERY. 13 Dr. Cr. 1837 May 13 SnnflriPr: o o c o >rt o T!< O o c o o o '>c o o o >r: o 00 o 1-- o o c o o J3 O CO -< O C T') o . =^ Oi i- O O C O o a; o c; 00 o cc X CO ' o o -— O ' in in c o Q lO -HOC- c^ 0* w C^ o in ^ o in I-H C^ '"' ' 1— 1 p-< 1— I Xtl O O o o o 02 xn xn O Q Z <1 o Ah O O I I I I I o CO o o o in in o c> o I I I I I I I I I ■ I I . - o o o o o QD CO 00 in I- 1^ o o o •* O };- ^->^ . , . 1 . 1 t o^ '£ ^" O ' 1 1 1 1 1 ,—1 1 1 1 1 1 in ^ 1 1 1 1 00^ C? ■ ' ' ' o o o *- o o o o o O Ci o o,o o o o in o o o o o o in o c c o o o c; c o o c^-c t- o o i-: iri C CO — C O T) o o^o x^q cc^oo co^ 00 CO o c-.' in o cr. c) o in^j>^OJ^ J> o i> o cf o" o c o o o o c o in^in o^o in'~>-ro"in" r-l ,— ( r-< CO 00 o CO 1=) *-5 u;— 'i-iO)TTiTfj>QOXxoc:ocooco -13 CCP^i ■ I . . O ' in ' • .^ . c Mk3 t'^ %a r- S C -rr > r- O ^ — — p ^ k2 ~ -5 Q^ ?:; s H k; w [80 ] — s r^ xn R ci X *-■ ^ .2 ^ k£ -5 ^ o W ,= Q cc P*; 53 fs 02 rH o ^ ^-* ff 1—1 « c Ol ^ 2 .rS lO t- CO l-H o o o o o o 00 O Oi Q o w III III m in CO .S o 5-^ o o c> r-< o o in in o o a t~ O CO lO c O J> ' r— 1 c; O CO r-H c' 1-H • CO o o o o - o o o o in QO O C3 o i-- o Tf< TjH O o 00 o o o o 1> c^ (N in C' 1—1 CO bo c iv ^ CO o a O b o ^ a a a == 3 ^ s s s '^ "* bD •-• ^^ r- 1 0^ CO CO TT* r(7 ' 1 1 '6 1 1 '<^ a CQ 1 1 c X n o ^ o o oo £ Q) CO s en cW o i-^ O u u r> ri << r^-o fi Z O C C •si F= fi (U < n 2 X ctf rf c — o U ChPhO 5 «^ S o *1 »- •^ = c -fi a £ O J3 J= ^ to 22 •^-^ CO cd S to tn o « w s '^■^ " -u CO §.£^' > C5 C fi C O o bx) >- bo 3 13 13 fi J3 J:; 3 ; « CO y U O « ^_> £ (u "S to •±3 c »- (U B ri O "3 = -:; >^ O CO _2 ■" fi 3 5 o o = S " ^2 § CO eS » - D-O (U C3 ^ CU 5 o 2 "= S tt> o b rr r > c3 3^ 3 ;^^.£ C ♦^ tn _ 1^ £ ;^ c c/3 3 a) ^ I " i' J -^ 1 :9 *-. „ rt ♦-' ^ J S o O 5 CD C vo partners, falls in their Debt to the amount of $11,000; — to James Y. I.iili- bridge $3,000, and Edward Sargent $8,000. He may balance the difference With these individuals by giving his notes, or they may consider his superior talents or services in business as a set-oil' against their larger amount advanced. Ail depends upon the articles of agreement, as well in this as all other co-part- nerships. In case of a dissolution, each partner, from the Day-Book statement, would De entitled to withdraw from said concern, before any division of property was made, the amount of capital originally invested; provided there wns nothing stated to the contrary in the articles of agreement. Adjustments of , this kind are usually made apart from the books of a Company, and seldom appear upon them. On closing Company books, the account of Profit and Loss is closed to or hy the accounts of the individuals who form said Company, each in proportion to his share, as per original agreement. Note. — If a paitiier is about to withdraw himsslf from, and make a final seltlenient with, an establishment, tiiere are, under ceilain circumstances, some nice and often important points to be looked to by all concerned. The Irohks should first be* examined and balanced as usual. 'It may then be advisable, before closin; them, 10 draw otF ait account current of the parties, for the sake of coming at the amount of interest each one owes the Company, as it is manifest that one or more of the Company may have wiihdrawn in advance, more than a. jiroportionablc sum from said concern, and appropriated it to his own use. If tlie establishment be of but short duration, the stock in trade (which is usually taken at first ccst ou "•losing the books,) may in fact be worth as much more as the original cost, per cent, on the transportation etc. of said remaining stock. While on the other hand, if the company be of long standing, the remnants or unsaleable merchandise_ in store, may have been estimated much above its present value. Again, the 'debts due the Company may not be good, by at least ten or twent}' per cent, on their original amounts. Also, the fixtures about the eeiablishment, which are usually put to the account of expense, mav be worth something handsome, etc. etc. It may occur in a house tliat, when the sums total of Ihese amounts are collected, and a balance drawn between the parties, tlie difference thereby accruing shall not amount to enough to pay tor tne trouole of such an adjustment; while in another estabiishmont, these riifferences may number thousands; consequently, with the sluewd business man, when these adjustments become worthy of notice, they are not to be overlooked Note 2d, — Stock Accounts. From the foregoing illustration you prrccive that no stock account is intro- duced. There are in practice, however, some merchants who object to this method of opening boftks, or would consider the preceding entries as incomplete or unfinished. Such would make a subsequent entry, Debting stock with the whole sum of $153,000 and Credit the partners Edward Sargent, James V. Lillibrige and William Doughty each with their respective sums. The effect of such an entry would be to open a stock account which is rejected in the foregoing illustrations. Should a stock account be thus created it'will present this singuku contrast ofhaving the net amount of capital in trade on the debit side instead of being on the credit side, as is the case when books are opened in a single individual concern. Furthermore should this entry be made it would lead to still further objectionable entries on closing books. The effect of making this subsequent entry is obviously bad, so much so that I will not dilate upon the entries that ■would necessarily follow on closing your accounts, but would rather suggest the following plan for adoption if vou arc not fully pleased with the preceding illustration. instead of making Merchants Bank, Merchandize, and Bills Receivable, debit to each respective partner for his share advanced, as is illustrated on the preceding page, let these accounts be debited to '■ Stock' or < Stock in Co.' Thus excluding from the Journal and Leger the accounts of the partners and their respec- tive sums advanced. The evidence of the sutns advanced by the partners may be confined to the articles of agreement or they may be explained in the details of the Day Book, as illustrated m the example on page 82. Note 3. — There are merchants who object to opening a Stock account under any circumstances, or to have the sums advanced by individuals in a company concern, represented in their respective personal accounts on the Leger. Such usually make a note on the first page of the Leger, referring to some memorandum-book where "the balances are explained. The only objection to having a Stock account opened is, that clerks ind others have it so ready m their power to discover the net amount you may have invested m trade, &c. ; which is at times certainly desirable Iq be kept a secret. AUXILIARY BOOKS, F O R M S, &c. The different Auxiliary books and Forms made use of in doing busi- ness are so exceedingly simple that it requires hardly an explanation to understand them, when as in the following pages, you have the Forms as examples. However, I have given brief explanations of those I thought might prove most difficult to be understood. But I must still, for the better to qpable you to comprehend them, refer you to the Forms them- selves. These Forms, when connected with the Day-Book entries of this work, are only carried to an extent sufficient to illustrate the piajis in which thev are usually kept or made out. [ 84 1 p^ m o o h-l -2 o 9-§ ee CO oj ca to a •— Ph-S QQ CO rs >» Hn Qj <« 5: o » ' 02 *i G 2 3 S U CJ s.a s-s H^ ^-g >-, >^ i5 3 '^ 5 ^ ^St» [^ O C fcD CD ■ — J 'T3 Ui T3 « ^> '=^ PQ jfi .a (U E,>.^ < o § « >^ §.1 § < " ■> -O CL, o «i 02 bli 1-B ua! i-l J W 03 p t— ( 3 ^ i3 M c3 .S sS -2,-3 Q> » g .i^co ^^ t! c: 2 «5 -o o 2 § *'«2 bf) 2 °=s ^ >>^ bo <» 2 c-E S •n C3.2 ^ ^-s C ej bo « m — .^ o o kisf Ther Bank o 1 o .2 3 H ^ cd O H.>^ o • "a ^ ^ ■ ^ 3 S .■H •=■■ rf ;2 ra ^' " 5 ?5 •? « ,? i .•S" .'2 3 3 i £ £ 2 S. £ o^ i> o^ 0{^ o. -nj^ ■n'^ o_ Oi ^ C^ '^' rrt^ CO OO '-'' ^ ^^tfi^rS^ •000 1 •AO\r 1 •jaqoj.OQll •jdogll t- -^ X — T* 7> 'jsnSnyJI CC -r •Ainfll CO •OUllJ" 1 W W •At^Wli O 00 •IHdvll n ^ t^ l^ •qojujvill ^ ■* •qa^ll 2g^ .ijTjnuBfll •siva 1 "=> 1 CJ f —1 •SHiNOWll C^ n itO 70 CO CO r^n~i*co'S'~C'^co~rn r: O O O O CC 'J :: c- QO X — 1 1- ".o c f- c» in to O^O? Oi Oi —< Oi Oi '-*'-* '-> 11=' In- ^ u a 1 8 SI «2 o d d 3 2 « o • m to ^ O^ 3«s«r c" SeS V 3>. Cc i-5Soc3e3 So Is ^^ t< C O O *J is f» pi,* S « W Q C- r/2 M d d d 'u o o a o B.3-^^ |E^ o E-aj -5 :i j-jaqiuiixi 1 1-1 (?j rt ^ ir; o 1^ ' r s=; 1 X ST. O — 7» CO 'g" O --5 t- X rt^,_^,-l^i— 1^ — w o o m I h- 1 -a 1 Sold, March 16lh. S Id, FebruaiT Z7(h ^1 g^ s i 5" 111 1 -s^ 1 ^s |- 1 -5 - -oooocraoooooc^ooooco OOOOOOOOOOCi.OOOOOOOOO OOOOCOOOOOOCQCCOOOOOO !--;_ C^ :^ t-;^ O^ CC t-^O^O CO^QO C^O t- if^O O 1> O^O •^^ail "•^"'\li •JD(10)J() 1 05 •jdag 1 •jrfiixinyl 01 •Allll- i (- i> •OUllf O CO r— 1 r— ( •^i^Kl CO ^ r— 1 r— 1 PQ •[udvl c» o ■'pjiqvl C^ J^ '-< C-: -:< J^ •qajl i^ .CjunuufI l-H •sAva| O O CO o o o rt< CO CO CO CO •iHlMOHll J>COCCOC*QOO C0'-Ha0r?— ' X CD v< L-; X O '-O CO l-H i-H,— l-r) ,— 1 C\Jt— 1 1— <'7)i-H o CO o ^- c c - *j b |8 o 'A do. S. Hewes, Mdse. do. J. II. Rice, Bills Payable, J. Caldwell, Cash Lent, J. H. Rice, D. Marble, Md?e. E. Clinton, My Heirs, Palent Arms Go's sales Df 't on R, Trumble Flour Co. A 03 en .• O 6 do. do. B. W. Foster J. H. Saxton J. H, Rice, J. C. Colt, J. Caldwell, .1. C. Colt, J. IL Rice, J. C, Colt, do. do. D. Lc Mont, D. B. Carroll J. C. Colt, do. do. do ci s o f >> O O J. Bouhar S. Hewes R. A. Hal R. Hemm L. Shafer S. A. IIu J. R. Ma H. Seldei VV.H.Ma D. Marbl Robards t R. J. Bow F. K. Ma Kerbey E.B.Hib J to o 1 r-r-, --1 C5 CO — 1 -^ t^ ^ in — in 00 CO <.- <- cc ■S iz CO >— 1 c\> o> '^> "" .— c CO ^ '>> -H c> c) '^> T— < TO c — ' 1-5 :i :: ^ n ^ ^ ^ ;S ^ ^ ^ ^ ^ ^ ^ ^^ § ^ «S <1 l« 1-5 •aoqiuii\ [86] CASH-BOOK. This book is universally used, and on which all moneys received and paid av^ray are directly or indirectly entered. It is usually kept at the desk, inde- pendent of the receiving drawer. Much depends on the extent of the establish- ment, in regard to the manner in which the sums received and paid are usually entered. In most trading houses, the money received for various articles goes into the store drawer, and at night is counted out, when the amount is transferred to the desk, and the Cash-Book is debited with the same. Also, an entry is made on your Day-Book at the time, giving Merchandise Credit, and Debiting Cash, or is deferred to be done at the end of the week or month. This D.B. entry is necessa- ry, that the Leger account of Cash and the Cash-Book may agree, as well as to give Merchandise Credit for the goods sold. In other establishments, each amount re- ceived or payed avi^ay, is specifically entered on the Cash-Book, which is posted from time to time to the Leger. Cash accounts, of all others, are the most difficult to keep correct, and require great care on the part of the accountant, who can adopt much better such a method as best suits the business in which he is engaged, than any given general rule would supply. Note. — The form here given for keeping a Cash-Book, is rather made to yield to the illastration of the principles of the science as laid down in the Day-Book, than for practical use; therefore, for further information, you are requested to examine Practical Forms in part second of the Teachers' and Clerks' edition. ' p.' refers to amounts that have been posted before writing up the Cash-Book at end of the month. CASH. Dr. Cr. 1837 Jan. Stock, p James H. Rice, Merchandise, p E. B. Stedman, J. H.Rice, p J. Caldwell, p 1837 500 00 Jan. 500 00 8 625 00 10 2,000 00 20 900 00 21 100 00 25 29 31 1,025 00 Expense, J. C. Colt, Joseph Law, Merchants' Bank, J. C. Colt, Expense, Joseph Law, New Acc't., [ 87] CASH. Dr. Cr. 10 20 23 24 27 1 5 7 9 (( 10 13 1 2 11 12 28 Old Acc't, Mdse •• do do p do House on Canal St- James H.Rice, p Mdse do J. R. Marston, p Sundries, Old Acc't Mdse House 110 Camp St U. S. Bank Stock, p Profit and Loss,--p J. R. Marston, Sundries, New Acc't Merchants' Bank, Sundries, p J. Hubbard, Sundries, p 2,425 1,000 580 486 500 450 300 263 782 55 135 6,977 3,577 150 300 250 1,000 100 1,000 6,377 1,427 1,000 560 1,386 2,000 Mar. 1837 Feb. Apr. J. C. Colt, J. Holbrook, J. C. Colt,. Bills Receivable, p R.Trumble, New Acc't Simmons's Plantion, J. C. Colt, J. Law, Steamer Hope, p. Steamer Sun, p. E. Clinton, Profit and Loss, -p. New Acc't Sundries, p. Profit and Loss, .-p. Pell's Sales, p. Merchants' Bank, J. C. Colt, Pell's Sales, do. do p. J. Law, Expense, P. Arms Co.'s Si's p. Patent Arms Co. p. New Acc't 100 200 300 1,300 1,500 3,577 6,977 2,200 300 50 500 800 250 850 1,427 6,377 6 1,000 15 2,000 450 186 488 150 300 430 1,000 346 6,373 00 00 00 00 00 25 25 00 00 00 00 00 00 00 25 25 50 00 38 00 00 88 38 00 00 00 00 11 25 [88] CHECK-BOOK. This is a printed book of blank Checks with a broad margin, which is gene- rally used for the purpose of recording all moneys or Notes deposited ki the Bank; and the amount of money, in whose favor, or on what account, Checks were drawn. When you keep a Bank Account in the Leger, (it is unnecessary to say, if correct,) this book and said Leger Account will agree. When you would draw money that has been deposited, one of these Checks are filled up, signed, and handed to the Teller of the Bank. It is customary for most Banks, as often as once a month, to have one af the Clerks write up and balance individual Bank Books, in correspondence with their Leger. When this is done, (for your own satisfaction and for the detection of errors and frauds,) you balance your Check-Book, and see if they correspond. Note. — Providing you keep a Banic-Account on your Leger, which, together with your Bank-Booki is the natui-al and sufficient guard against mistakes and frauds, the trouble of entering deposites on this bouk may be dispensed with. 1837 Jan. Feb. 10 Deposited No. L in favor of B. W. Foster, on ao count of freight, &c. from Lisbon, Deposited do. No. 2, in favour of Sam'l. Eells,on acc't of insurance of goods in Store, Deposited do. 14,500 490 14,010 3,000 2,000 00 00 19,010 200 18,810 500 2,400 21,710 Note. — By adding the amount of your deposits, and subtracting the sums drawn, you have remaining the amount of money in Bank. X No. /. X JOrleans, Pay to ^^n^?, ^ .^ft«fc^ Xor ^^^-S&^^^oui^untAec^aTi^ JPCnOm <5pollars ^o4n ^. <^^. \..y ..■■■\ V.,' No. 2. ^eC^uta/iu / 1837. {^ Cashier of Merchants' Bank, New vyOrleans, Pay to ^othu^^ Se^^ or XBearer, STwo ^*4^tdut^ Dollars 5 No. X ^^^ • X Cashier of Merchants' Bank, New XOrleans, Pay to or Dollars QBearer, v/' 5>^ \ 89 1 >£)>-§ >; ^ s =3 _^^ gener nent. Cred len it 2 s - a the the Debi he ti w &C *- fl-r 2 a 3 •- "^ O 3 S^^ "^ OT^ 3 S ^ oi i^ •2 2^^ run Uytl ly a epar a, 5 Oh "' (D 3 C rt 2.2 o « -^ M rt ... OJ rt S C C5 ■Sr ^ ^ tioi"^)^ ealin the ulas cula '^'o ais M o .^J ^:Ss^ « -ti tji -i-> 3 o a> c <*- o S •- 3 Houses c ntmade ou will s lOut inte O O o ■•-> S = s ^ 3 O -^ -i.2 o bf) a PQ 3i-H,-;:i r? 8 ^ 3 O O '-i O ifS O O 00 O --D i-H C< CO 'J3 CO I a! c .- nJ °l o 3? £ o o C5 *T3 o --^ o o -n < O O O O '^ < O C-' Cl CI ^ 1 3.S St < <5 ^ ^ " h3 - E S o a MS i m [95 ] I H iz; \^ o o < o O 6 :? s "5S 2: c .'^ 1: do- 1 1> CO '<^ GO so rH H ^«f io "to tH ff tH r^ i-sr" ^ 1 ^ ^ f-JS r^ ft <» ^ •^ ^ »to ^O ft^ £ 5 oc l£i= IS II S B S ■ . g dJ o 2 i t^»n(M5^oomoj> II (M»nciacii- r-l ^ i.OOOOOOC^C^foOiCOOOOOO ff c^ooooi>ooj>»oi>ir5000ift»n ^i-icddr-Hi-f -^coo a Oi rH r-H r-H -3 -« .« .«« ■B O»nC^QD'-ii:0CDCD<-<.-(i0C0OCDi:0Q0O sf- (Tjc*-^'— io>ir>coc^W'r>'— lOJc^cocJ'-H'-H .12 I I I I 2 CO 2 00 Oh a. S § e^ [98] d o ^ H H O 1! Si ^ J5) cS B to ^ ^ U ^ => rt "JS ^ cr' _K ocooooooooo 0000000000 o o . CQ •aouBApB ui prc^ •qjuoui OOOTtiO-^QCQOC^JOtO o o 00000000000 to to »0 iO 10 10 to 10 »o o to lo co^HooiocotO::>?(?o<;D OiTJOQCOOOOO'^COC? COCNlC^f-H,-Hl-H,-H,— ll-(f-l,— I a, o Pi a eC CO (TS CO CO CO CO CO CO CC CO O) > -a <1 :: « V* %« S« S* V* V* ^ rt 6 OT ^3 (U ^ ^ • • • • • _ o ■S 00000 a ^ -Q "13 ^3 "O "O ^H o jD ci rt O rt a> 00 ® 1—1 ^ no 1 ^ -wc^OOOPQ Q f^ ^- r^ kS H=; ^ . 'M«ffi^ ^ c OT 4) ^J • . *^ £ o e_D a^: -J° «^ [99] t5? o 0!2 4> CO 00 I— I CO < H H m C I— I (^ o (1< s .2 '■<-> rt a, o o o o O 3 < ra3«M fl W S 12; o o o S S o a o J3 g o ♦J S3 O -4-J O 03 ^1 4-j *-' ^ o Sod M a^^ o fl o o (3 O O o <1 o o o o >— I o o QO CO CO o o <:oac CO ^ O O O O O 00 O ^ LO "O ^ o CO Cs> 1— I 1— I >— I C5 C? I— I '-H «OOC000C0(??CJ5i— I Q000O5i>^'^C0C<{ CO CO a ^ ^ ^ ^ '§, O >^ 'O . oo O "O o o CO (?? irj o o 00 tri O O O O O 00 O O CO 00 o COOOOOiTfOOiO C^(M'-tCMCOC0C?>-H o lO o o CO o o o o CO 00 OO'OiOiOOOOOOOQOOOOO'J^OCO CO 00 »- I t — d 1 ' a, o O CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CO CD "S S C r-S tyo (U O) w c! is '^ S^ o 2 o) ^ o^^^ o , O S 0} H ^. ^ [ 100 7 o fl W) -^ oj 0) O 3^ . » 3 I o o I w I— I P4 00 S © ^ CO cc .5 :: :: - - J2 <^ ^ c» o o OJ lO o o 1—1 ift O ift o o in CO «2 (?* CO in o s - 5^ m a § o o <1 o i u m ?D 00 r}< i-r I— t ■fl* CO 1— ( CO 9S a o m o lO lo »rt i> in i> c^ T}< I-H 1 o o lA in o in > O m eS O H o o o in 05 a Pi Q 2; Pi «-| o ^ ^ « OT CO O J3 -^ pqpqW ift o o CO o o a H^ OJ O ^^ I— I 3 ,. *i CO Is o o GO •^ CO »> 0^ C? CO -H MS in ^ CO ~ S o CO y MS Ji o bo bO •cM«"cM -- o r^ m o = o 1— I oj &( in ti( in c^ <^<§><^x3><^< ><8><8><^ ><6>^<9xi> ^ .* bo CD S e » ja.Ji^r; "T-OOOOOOOOOotOuipS-S o •3 fli *-« »-•» 1^ G — O « ^ ^-I^M=8M0|M a -a m c3=« >>'o ^ •£ :2 ^ o O eS • S rS S 5^ o3 K o -^ o (U S o .-OOCOOOOojOOOOOO Q iJ^ ^-c s cm-5 5 i^ Kt^ __ c 6l 101 c o ce be K C >^ £ > -g ^ -H bT a, rt £ rS n O o rt CO o t:; ^^ I-, „ a £101 1 "^ r/S — *j . ^ <" . Sii .? O "^ r* • CS — C n ^ STEAM-BOAT REPORT. Steamer Sun, Trip No. 5, from Cincinnati to New Orleans, May 29th, 1837. Cr. JNo. On what Account. I Paid. II Charged. || Total AmuT 23 13 14 Am't of Freight as per Freight Book, Cabin Passengers, . Way do. do Deck, Way do 362 1,150 235 140 40 1,232 95 362 1,232 1,385 180 62 95 I 00 00 Contra. 1 3,160 Dr. 57 Date. On what Account. II Charged. || Paid. || Amount. May 18 19 20 Robert Watkinson's Bill, C. D. Bradford's May & Case's Steward's Book, Wood, Hands, do. do. 51 31 83 12 12 50 415 175 652 65 83 652 $735 12 65 77 Recapitulation . Am't for Freight, ^ " " Passengers, Am't of Debts contracted, Cash paid, To Messrs. Caldwell, York & Co. [102] 11,595.57 1,565.00 $ 83.12 652.65 $3,160.57 $ 735.77 $2^24.80 Per S. F. Batks, Clerk. FORM OF A MANIFEST MANIFEST. Steamer Sun, Trip No. 5, from Cincinnati to New Orleans, May 29th, 1837. Consigned to Destination. Marks. Articles. Buchanan & Gray, New Orleans, 35 Boxes, do. do. <|x8> 46 Bales, do. do. <^<§> 500 Bbls. Whiskey, Cody & Lewis, do. <|> 200 " Pork, Sands & Brother, do. Furniture, R. Wood & Co. do. <$x^ 50 Boxes, do. do. <^X|> 10 Trunks, Smith &L Biddle, do. 225 Bbls. Apples, J. Carroll, do. ^^ 3 Trunks, Buchanan & Gray, do. <$><^ 100 Bbls. Pork, do. do. <^ 200 " Whiskey, De Wolf & Brown, do. <^<^ 12 Boxes, ao. do. ^x^ 25 Bales, do. do. ^>^ 200 Bbls. Pork, do. do. <%^ 150 « Whiske/a Fred. Hyett, do. 500 « Flour, Fred. Howe, do. <^ Furniture, Wm. Wright, do. <^ 50 Bis. Eggs, Davis & Webb, Vicksburg, Furniture, " do. do. <^ 50 Bbls. Flour, Sam'l F. Batks, Clerk. FORM OF A BILL. Messrs. Buchanan & Gray, To Steamer Sun, Dr. For Freight on 81 Packages, 2,960 lbs. (a) 75(}? $ 22.20 « " 500 Bbls. Whiskey, © 50(t? 250.00 « .t 200 « do. Q 50(i» 100.00 « « 100 " Pork, (a) 75^ 75.00 From Cincinnati. |447.20 N. O. May 20th, 1837. Rec'd Pay, Sam'l. F. Batss, Cl'k. ORDER-BOOK. This Book is for taking copies of all orders received for Merchandise. MEMORANDUM- BO OK. This Book is used for taking note of mercantile affairs of importance thai have occurred, or are likely to occur, or which you wish to bring about by some movement of your own, etc., etc. They are often kept for definite pur- poses about an establishment. Most merchants and other business men, for convenience sake, carry one in their pocket. EXPENSE-BOOK. This Book is for keeping in detail the summary Expenses that are constantly occurring about an establishment. It is usually kept in or about the receiving Cash drawer, and is generally for its aggregate amount written up and .posted once a month. LETTER-BOOK. This Book is used for taking copies of all important Letters passing between business men. A business Letter is usually written in brief terms, explaining much, and leaving room to infer more. A young man that has an opportunity of copying Letters in an extensive establishment, may deem himself most fortu- nate; for, in addition to learning that clear, concise, and easy way that well educated Merchants have in explaining themselves, he here learns the handling of the keys of the hidden springs of trade. The diction of every language forms his critique; the wants of every people an anxious movement to supply; the pro- ducts of every nation he sees benefiting his own; the productions of every clime, unfolding a benign Providence, are developed and brought to a discussion as to the extent they might benefit his own country. And here, too, is frequently to be obtained the first clue to the dethronement of kings; the dissolution of em pires; the organization of governments; of battles to be fought; of victories won or lost; of nations growing in their strength, or decaying in their magnificence r 104 ] END OF SCHOOL EDITION In addition to the foregoing, there will be found in Part 2d oif the Teachers' and Clerks' Edition, directions for the learner when pursuing the study of Book-keeping, without the assistance of a teacher, a Key explaining the manner of Journalizing the Day-Book entries, with reference to the Rules under which they fall, and the nature of the busi- ness transactions; a Vocabulary of Mercantile Terms and Phrases; Practical Forms for keeping Books in every extent and variety of Commercial Houses ; different forms for keeping a Journal ; Public Ad- dresses, etc. etc. N [ 105 ] PART SECOND. ii«i DIRECTIONS TO THE LEARNER First make yourself acquainted with the first Ten Rules of accounts. Then copy the first month of the Day-Book, journalize and post the same, and prove your posting by a trial Balance, (see formula at the end of the Leger). Close your Cash and Bank accounts on your Leger at the end of every month. In taking off a Trial Balance at the end of each month, you will not include the amounts of the old and new balances of Cash and Bank accounts, as ihey have neither of them a corresponding balance in any one month, as the credit balance of one month is alwa)'3 the debit balance of the next. These accounts in busi- ness are left open to be closed, when you have taken a trial balance for the month. It may not, on the first time going over the work, be advisable to take a trial balance until the end of the six months, although in ac- tual busines5, these balances are usually taken off regularly at the end of each month. Incase you do not take your trial balance to prove your work, examine your Cash and Bank account with the Leger an- nexed, if necessary, to see wherein you may be in error. " Having completed the first month, proceed to copy February; journalize and post as before. In addition to the Ten first Rules, which you have learned, study the two next Nos. 11 and 12. You will have frequent use for these in journalizing the month of March. Post as before. Next proceed to acquaint yourself with Rules Nos. 13 and 16 ; these will be of frequent application in the month of April. In the month of May, in addition to the first Ten Rules, you will have frequent use for No. 14. June, the last month, is confined to speculations and its peculiar principle is explained in Rule 15th. You will find it a good plan, until you become a proficient in the principles of the science, to practice reading daily the Day-Book entries, and give the appli- cation of the rules in your own mind, and then look to the Joui'nal and see if you are con-ect; which for your convenience is here given on the opposite page, though in actual business these books are usually kept separate. After you have examined your Journal sufficiently to enable you to make a proper application of your Rules, lay your books aside, and trust entirely to the directions. If you meet with technical terms with which you are not acquainted, you will find an explanation in the Vocabulary. Also to understand the nature of any of the Day-Book entries, and the reason why they are journalized as they appear to be, turn to the Key. This Key explains the nature of the most difficult of the Day-Book transactions, precisely as a teacher would or should explain them to the learner; and which the author believes to be a sufficient guide to assist any young man, who has had the advantage of a common school education, in ac-r quiring a knowledge of the science, without the trouble and expense of further instruction. Once going over the work, will develope to you the principles of the science, but to make yourself an accountant, you must repeat it as often as may be neces sary, to make you capable of applying under any circumstances, these princi- ples. To acquire this proficiency, one scholar may not spend over a fortnight, while another will require three months. Much depends upon previous educa- tion. While studying the book as above directed^ take a general survey of the in- troductory part. Having mastered the principles of the science as laid down in the first part ot the work, — next proceed to investigate the Practical forms for keeping books. [ 109 ] DIRECTIONS TO THE LEARNER. You will find these forms both easy to be understood and complete in practice. It may be well, perhaps, for you to examine the Practical Forms, after you have gone over the main body of the 'work once or twice, for the sake of giving en- couragement to your pursuit. You will find that keeping books in most estab- lishments is quite simple, in comparison to studying the principles of Double Entry Book-keeping from mixed entries. To THE Teacher. — In giving instruction to quite young pupils, and such scholars as had enjoyed but trifling advantages of education, I have found it a good plan to have them go over the first division or first two months of the Day-Book, several times, before advancing them into the other divisions or more diflSicult branches of the science. The pupil may copy, journalize and post these two months, without regard to other parts of the work ; and the same with the other divisions. Judging from a close eye upon the effect produced in this method of instructing young pupils, I recommend it to your consideration and trial. Should you con- fine the learner to a repetition of the several divisions of the work, till he seems to possess a mastery of each particular part ; it will be found advisable to omit an attempt to take off a Grand Balance Sheet, until he is capable of going regularly and uninterruptedly through the work. And in some cases, I have not even trou- bled the scholar, on the first time going through, to take off a Trial Balance. The pupil having a printed Journal before him, should be questioned upon his Journalizing ; that it may be discovered whether or not he is cheating himself and wronging his benefactor, in an apparent and not a real progress. After he has gone through the work once or twice, as may be advisable, with the aid of his book, he should then be required to complete his Journal and Leger, from a copy of his Day Book, and the assistance of the rules alone. r 110 1 VOCABULARY. A. A. and, at, Abatement, discount for damages on goods, and prompt payments ot written or implied obligations. Acct. or Account, an exhibit of the debts and credits of an individual. Accept, see acceptance. Acceptance, to endorse, an engagement to pay a bill. Accommodation, when applied to bills, is where the drauoee lends his name for the benefit of the drawer. Account Current, an exhibit in detail of the Debits and Credits of a running ac count between two parties. Account Sales, an exhibit of the sales of Merchandise disposed of on commission Ad infinitum, without end. Ad libitum, at pleasure. Administrator, the manager of a deceased person's estate. Ad valorem, according to value, value given to merchandise on the first cost. Advance, money paid on property or goods expected, and for a lien on goods in possession; a per centum above a certain value. Adventure, goods sent to a distance to be sold on commission. Agent, one employed to transact business for another. A. M. before noon, in the year of the world. Amt. or Amount, sum total. Annuity, money paid periodically. Annul, to make of no account. Apr, April. Arbitration, a difference of opinion left to persons chosen by the parties inter ested. Assignment, property conditionally transferred to another. Assignee, a person deputed to manage the affairs of a bankrupt. Attachment, a claim on property legally executed Aug. August. Average, sums allowed for losses at sea. Award, judgment rendered by arbitrators. B. B. B. Bill Book. Bankrupt, one unable to pay his debts. Balance, the difference between the footings of an accouaU Barter, an exchange of one commodity for another. Bill, term applied to drafts and notes. r 111 1 VOCABULARY. Bill of Enfr-i/, a list of goods in detail, entered at a custom-house. Bill of Lading, a conditional agreement between the captain of a vessel and the shipper of goods. Bill of Sale, a legal disposal of goods under seal. Bill of Store, a custom-house license to merchants for carrying to sea ship stores and provisions free of duty. Bill of Exchange, an order for the payment of money. Bl. barrel. Blank Credit, permission granted by one house to another, to draw on it at pleasure to a certain amount. Bond, a Bill with security. Bo7ia Jide, in good faith. Bounty, premium given for the encouragement of manufacturers, trade, etc. Bonded Goods, merchandise warehoused upon bond being given for the payment of duties. Bot. bought. Bottomry Bond, mortgage or lean upon a vessel. Broker, a money and stock trader. Bi'okerage, a per centage allowed or received on the purchase and sales of money and stocks. Bu. or bush., bushel. Bureau, an office desk. C. C. cent or cents. Carrying Trade, is the transportation and exportation of goods by vessels from nation to nation. England and the United States enjoy the benefit of more than two thirds of this trade of the whole commercial world. It is secured by the direct and indirect laws of these politic governments. Capital, Stock in trade. Capt. Captain. Carte blanche, unconditional terms. C. B. Cash Book. C. /. B. Commisson Invoice Book. Charter party, an agreement between the owner of a vessel and an individual, who engages the whole vessel for the purpose of carrying goods from one port to another for an amount specified. Circular Letter, a printed notice issued by a house relative to its business. Clearing a Vessel, is entering at the Custom-house all particulars relating to her when she is ready to sail. Closing an Account, is to balance it. Cocket, a Custom-house discharge on the entry of goods. Com. commercial or commission. Commission, a percentage allowed on the sale of goods. Co. or Company, see co-partnership. Compromise, an adjustment of a dispute. Consignment, goods sent to an agent to be sold on account of the consignei. Connoisseur, a skilful judge. Contraband Goods, articles prohibited by law. Contingent, proportion, the share of one in business. [ 112 ] ^ VOCABULARY. Contra^ on the other side, opposite. Convoy^ ships of war sailing as protection to other vessels. Co-partnership, the union of two or more persons united for the purpose o< trade. Consignee^ 6ne to whom merchandise is shippea. Counter Order, a revocation of a former order. ^ Cartage, a train of attendants. Cr. creditor or credit. Credit, the amount of confidence reposed in others. Creditor, the person or thing owed. C. S. B. Commission Sale Book. Custom-house^ offices for government agents who collect duties on goods. Cwt. hundred weight. D. D.day. Days of Grace, time allowed for the payment of a Bill after the same becomes due — by the banks of the United States usually three days. D. B. Day Book. Debenture, a draw back on duties when imported and afterwards exported ac- cording to law. Debtor, the person or thing that is in debt. Dec. December. Defalcation, diminution, cutting off. Demurrage, penalty incurred ibr delaying a ship beyond the time specified in her Charter Party. Dep. Deputy. Depots a store or magazine. Deviation, a term applied when a vessel has passed the limits prescribed in an article of insurance, which frees the underwriters from all obligations, Dft. draft. Discount, an amount deaucted on the payment of a bill. Dividend, gains on stock, shares in trade, etc. Do. ditto. Dock, a lodgment for vessels. Doz. dozen Dr. debtor. Draft, a bill drawn on another for money. Drawer, the author of a bill. Drawee, the person on whom a bill is drawn. Drawback, sums allowed from the fulfilment of certain conditions or subsequent considerations. Dubious-paper, Bills of doubtful credit or value. Due Protection, promptly accepting or paying a bill Duplicate, a copy. Duty, government tax on exported and imported goods. Dwt. Pennyweight. [113] VOCABULARY. E. Fj. E. ell English, Errors Excepted. Ed. editor. Effects^ monies, goods, etc. — the whole or a part of a man's property. Effected an Insurance, to complete an insurance on property. E. Fl. ell Flemish. E. Fr. ell French, Ell, a measure of one yard and a quarter. Embargo, government and legal arrests of shipping or merchandise. Emporium, a principal place for the sale of merchandise, a mart-, a commer* cial city. Endorse, to write your name upon the back of a Bill; see Acceptance. Engrossing, see Fore-stalling. Entry, a record made on an account book. Entre nous, between ourselves. Esq. Esquire. Ex. example. Exchange, a place where Merchants, Bankers, Brokers, etc. congregate. Exchanges, discount and premium accruing to the purchase and sales of bills and money. Ex officio, officially. Ex parte, on one side. F. . , tace, the amount for which a Bill is drawn. Fac simile, an exact copy. Failure, to fail, not to be able to pay ones debts. Favor, a Bill is drawn in '•''favor'''' of the person to whom it is made payable. Feb. February. Finance, belonging to revenue, generally public. Financier, one skilled in money matters; a revenue officer. Finn, the title given to a house in co-partnership trade. First-rate Paper, unquestionable bills, drafts, etc. Flat, dull sales of any one or more articles of merchandise. Fore-closing, a mortgage compelling the payment of a debt or the disposal of stipulated property. Fore-stalling, the purchasing of merchandise, and warehousing it for the purpose of raising the price in market. Folio, on account Book. Freight, sums paid fo^ thp transportation of merchandise. F^foot. G. Gal. gallon. Gent, gentleman. Guarantee, a pledge to the fulfilment of stipulations. Grace^ see ' Days of Grace." Gs. srallons. [ 114 ] VOCABULARY. H. H. hour. Honors, when applied to drafts, means to accept or pay. Hhd. hogshead. I. Jan. January. /. B. Invoice Book. Importation^ the bringing of goods from a foreign or distant country to your owni In. inch, im*«rest. Indemnity, security given against loss. Indorsement, to guarantee that a Bill shall be paid. Ins. insurance. Insolvent, one whose goods and money will not discharge the amount of his debts. Inst, or Instant, the present month. Instalments, sums to be paid at stipulated times upon stocks or debts. Int. Interest. Interest, sums allowed for the use of money, goods, etc. In tola, entirely. Inventory, an account in detail of merchandise, etc. Invoice, a description of goods in detail. Journal, book for giving Leger titles to the Dr. and Cr. sums of the Day-BooR or other record of original entry. Jun. Junior, June. L. Leger. Land-waiter, a custom house officer who takes an account of goods imported. Lb. a pound (in weight.) L. B. Letter Book. Lease, a contract grantingfor a stipulated sum temporary possession of property Leger, a book representing a man's property, etc. in language mercantile. Letter of Attorney, see Power of Attorney. Letter of Credit, a writing granting one person to receive money on the credit of another. Letter of License, a written permission granting a person under embarrassment to conduct his business for a time without molestation. License, a legal privilege to sell certain articles of commerce. Lieu, one thing instead of another. Lighter, shoal-water craft. Lighterage, a charge for carrying goods to and from a vessel in a lighter. Liquidation, closing business by receiving and paying all debts. Loss, to the contrary of profit, on any business transaction. L. S. D. pounds, shillings and pence. L. F. Leger Folio. [115] VOCABULAHY. M. Mang. manufacturing. Manifest, a list of a vessel's cargo. Manufacture, articles produced from raw materials. Manufactory, a place of making articles of commerce. Mar. "March. Mart, a place of public traffic. Maturity, the time when a Bill falls due. Maximum, the highest price of any article. McVse. merchandise. Merchandise, articles of commerce. Merchant, a buyer and seller of merchandise. Minimum, the lowest price of any article. Mint, a place of coining money. Mo. month or months. Money, circulating medium; gold, silver, copper and legal paper. Monopoly, exclusive power or privilege, legally or illegally acquired, to traffic in articles of commerce. Mr. Mister. Mutual Debts and Credits, a set-ofF of one debt or a credit for another, between two parties. Mutual Promise, an understanding between two parties conditionally to fulfil certain acts. N. PTational Debt, a debt due by a community through their agent, the government. N. B. mark well. Ne Plus Ultra, the greatest extent. Net Proceeds, the balance of the sale of goods after deducting all expenses. Net Weight, the estimated weight of a commodity, after a deduction of the tare. No. in number. Non Claim, an omission to assert one's right or demand. Notary Public, a person legally authorised to take note of the non-payment of ail bills, promissory notes etc. which is called protesting; also to attest deeds and other important documents. Note, a written obligation to pay money, memorandum. Nov. November. O. Oct. October. Obligation, a document binding one or more individuals to discharge certain conditions therein stated. Obligee, one bound by a contract. On. a bill is drown "on" the person who is to pay it. Office, a place for transacting business. Order, a request to deliver or pay to a person certain monies or goods, a request to forward merchandise. Oz, ounce. [ 116 ] VOCABULARY. p. F. page, pipe. Pack or Package^ goods bundled together. Packer^ one who bundles goods. Par of Exchange, the intrinsic value of money when compared with other couD" tries, both in weight and fineness. Parcel, a term applied to several small packages of goods. Partnership) see co-partnership. Part Owners, a term applied to those who own stock in vessels with others. Parole, word of promise. '' Payee, him to whom money is payable. Per, by, by the. Pgr annum, by the year. Per cent., by_ the hundred. Pk. peck (in measure.) Policy, or Policy of Insurance, an instrument drawn by the underwriters, who insure property against fire and other losses. Portage, the incidental sums paid by a captain in running his vessel. Postf see posting. Posting, transferring the amount or amounts of any business transaction to the Leger. Pr., pair. Pres., president. Prem., premium. P7-emiu7n, sums paid for the insurance of property; sums allowed on the ex changes of money and bills, as per cent, above their par value. Price Current, a list of various articles of merchandise and their market value. Prmcf/ja/, the chief of a commercial house or firm; capital sum due, lent or owed, m contra distinction to interest. Prisage, the Government share of merchandise taken at sea in time of war. Pn'ma^e, a per cent, allowed to the captain ofa.vessel on the amount of freight. Pro and Con, for and against. Profit, gain on any business transaction. Pro Forma, a Latin phrase applied to any description of paper, as Pro Forma Account Current, etc. Promissory Note, a note of hand binding the signer or signers to pay a certain ' sum at a stated period. Protest, a Notary's document declaring a bill was not paid when it fell due. Proximo, the liext month. Ps., piece or pieces. P. S., postscript. Pt., pint (in measure.) Q. Qjr,, quarter. Qt., quart. Qu. or Qy., query. Quarantine, a restraint sometimes put upon a vessel on her arriving in port, also certain duties imposed on shipping. [117] VOCABULARY. R. Rate of Exchange, the per centum above or below the par value of a Bill of Exchange. Rebate, an allowance in the purchase of goods, for prompt payment. RechI, received. Receipt, a written acknowledgment of having received money or other value. Remittance, bills or money sent from one house to another. Rencounter, an unexpected meeting. Rendezvous, place of meeting. Renewal of a Bill, to prolong the time for paying a bill. Retail, to deal in merchandise by the small quantities. Returns, an expression applied to the receiving of an Account Sales of^mer- chandise. Ruse, a stratagem. S. Salvage, sums allowed wreckers for saving property from the perils of the sea. Sample, a specimen of an article of merchandise. Saiig froid, coolness, indifference. S. B., Sales-Book. Schedule, the statement of any business affair. Sea-ioorthy, a ship fitted in every respect for her destined voyage. See*, secretaiy. Seizxu-e, an arrest of merchandise or other property. Sen,, senior. Sept.^ September. Set-off^ one thing of value set off against another, between traders. Set of Exchange, this, like a Bill of Exchange, is an order for the payment of money; and is thus distinguished from there being usually three drawn of the same tenor and date," instead of one, as is the case with a Bill, each ha? a different conveyance to prevent failures, and upon one being paid, the remainder are of no value. Shipment, see consignment. Sightf or at sight, means the time of paying a bill is when it is presented. Signature, the name of a person in his own writing. Sine die, without fixing the day. Sine qua non, an indispensable condition. Smuggling, passing goods into a country without paying duties. Solidity, the estimate a mercantile house bears as to property. Solvent, competent to pay all just debts. Special Endorsement, is to particularize the conditions of an endorsement. St., street, saint. Staple Goods, the principal produce of a country; goods not liable to perish. Stock, capital invested in trade. Sundries, more than one. Surety, one bound for the payment of another's debts. [118] 1% VOCABULARY. T. r., ton. Talhj^ to keep a reckoning. Tare^ an allowance for the weigt: t fj{ fciJffOaji bogs, etc. in which merchandise is put up. Tariff, an act of government requiring duties on certain kinds X)f merchandise. Teller, one employed to receive and pay money. Tide waiters, officers employed to see to the lading and unlading of vessels, as a check on contra-band trade, etc. To balance, is making the debit and credit sides of an account equal* To credit, to enter a sum on the credit side of an account. To debit, to enter a sum on the debtor side of an account. Tonnage, the capacity of a vessel for carrying goods, her burthen. Total sales, the gross amount produced by the sale of property. Trader, a buyer and seller of merchandise or other property. Trustee, one who has the care of an estate or property in general for others. U. Ult. or Ultimo, the last (month.) Umpire, one appointed by arbitrators to make a settlement of a dispute. Underwriters, persons who insure property against risks. Usury, the taking of more than legal interest for the use of money. V. Veto, I forbid it. Verbatim, word for word. Via, by the way of. Vice versa, the reverse. W. W., week. ^ Warehouse, a place of depositing goods. Wharfage, money paid for the use of a wharf. Wreckers, persons employed in saving property from the perils of the sea. Wt. weiorht. Y. Td. yard. Yds. yards &c. and.so on. =, equal to. -|-, more to be added. — , minus or less. X? multiply. -T-, divide. [119 J KEY. January 1st., 1837. See Day-Book Page 1st. Under this date you will find an exhibit of your Effects, on the strength of which Credit or value you intend to do business. You perceive on the Journal, that Sundries is made debtor to Stock ; that is. Stock is to be credited for the whole amount ,$57,800, and the Sundries, being the accounts which follow, are to be debited each with its respective amount. Look to the Rules, of which each of these accounts form a title, and they will explain fully why they are thus disposed of. The individual names or accounts are explained in Rule 9th. Also, under this date there is an exhibit of the Debts you owe. On the Jour- nal, Stock is made debtor to Sundi'ies, for the whole amount agreeable to Rule 1st. The individual accounts are credited by Rule 9th, and Bills Payable by R. 5. Your Books being opened agieeable to the explanation given in each of the rules above referred to, you are prepared to commence trade. This is a simple sale of Merchandise on a credit, and the individual to whom It is sold must be Debited, agreeable to R. 9th. and Mdse. Credited, as directed by R. 2d. Note. — Where you find the length of time explained in this class of entries where credit is given to tho purchaser, you will understand it to be a mere Day-Book memorandum. See explanation under the 4th instant. 7 This is a simple purchase of Merchandise on account. Merchandise must be Debited, as per R. 2d. and the individual of whom you purchase the goods must be Credited, as per R. 9th. See explanation under the 7th instant. This entry expresses the fact of your having received a Note of Mr. Hewes in foil for what he owes you on account. Bills Receivable must be Debited, as per R. 4th. and Hewes Credited, R. 9th. r 120 ] KEY. ^January 10 See explanation under the 4th instant. Entries of this kind are common in an importing house. Most imported goods are sent to the Merchant in pursuance of an order or request sent to the indi- vidual or company, to whom he desires to forward such articles as may be named in the order. You perceive that this transaction is entirely on account of Mer- chandise, consequently Mdse. R. 2d. must be Debited with the whole cost. Trumbull Credited with the arnt. of goods, he sends you, R. 9th. Bills Payable Credited with the am't of Bonds, R. 5th, and Merchants' Bank with the am't of money drawn out, R. 6th. Note. — You understand that Merchants' Bank is the only depository you have for your money. If you had other Banks or places, you would always be obliged to particularize in your Day Book entries. 13 You have accepted Trumble's draft, that is, yo:; write the word "Accepted" across the face of the draft, and give the date of this transaction ahd affix your name. It then becomes a Bill of your own, and Bil.'s Payable must be Credited R. 5th. and Trumble Debited with the same amoujii R. 9th. It appears from this entry that you paid to Mr. Evens the am't of ^100, in goods from your store, in pursuance of a written request of Mr.Carr; the conse- quence is, that Carr must be Debited with the am't of the Order, as the goods are disposed of on his acc't, R. 9th. and Mdse. Credited with the same, R. 2d. 16 From this transaction it appears that Carr has given an Order on you to the amount of ^150, for which he should be Debited, R. 9th. Porter, in whose fa vour the order is drawn, says place the same to my Credit, R. 9th. as appears from the entry. Note. — I have heard some men of business argue that this entry was not mercantile. On the contrary, I conceive it to be strictly so, and always politic to make such accommodations. Although there is no apparent fain to you, yet ultimately it may prove of great benefit. Men scklom forget favours — look ahead. Here you pass your notes for Mdse., consequently Merchandise should be Debited with the total am't, R. 2d. and Bills Payable Credited with the like Sum, R. 5th. This represents a barter trade with Mr. Foster. He receives of you Mdse. to the amount of .^8,625, for which am't. Merchandise must be Credited R. 2d. and that which you receive in payment, under Leger titles must be Debited. The first am't $3,000 goes to Bills Payable, R. 5th. He appears t<- ' ,ve held this Note ' p [ 121 ] KEY. against you. The sum $2,000 appears to be the am't of a note he held against Mr. Hatcher, which he turns out as part payment; tliis goes to Bills Receivable, R. 4th. He gives you a Check on the National Bank, which you deposite in you own. Merchants Bank, R. 6th. and Cash for the balance, R. 3d. January 21' Here you sell a quantity of Mdse. for a Note, Bills Receivable must be Debited for the amount of the note you receive, R. 4th, and Merchandize credited with the amount of goods disposed of, R. 2d. 25 See explanation under the 4th instant. ■ 26 See explanation under the 4th instant. Mr. Rice pays you on account a Note he holds against Shafer; Bills Receiva- ble must be Debited with its am't, R. 4th. Also, an Order drawn on you by Gaines & Hardon, they must be Debited with this, R. 9th, and he gives you Cash, which must be likewise Debited, R. 3d. Rice, of course, gets credit for the total am't., as per R. 9th. See explanation under the 4th instant. . 27 In this entry you perceive that you give a Note of your own drawing, for which Bills Payable mast be Credited, R. 5th, and in consideration receive Hudson's for the same am't, for which Bills Receivable must be Debited, R. 4th. This is an accommodation transaction, one that frequently occurs among merchants when they are hard pushed for money. Notes thus received are usually endorsed, thrown into Bank, and by this means money raised upon your neighbor's credit to meet your demands. It appears from this transaction, that you consent to receive from Caldwell one-half of what he owes you, and thus make a full settlement of accounts. You receive Cash, which must be Debited, R. 4th; a Note, for which Bills Re- ceivable must be Debited, R. 3d, and you consent to lose the balance $600; this goes to Profit and Loss, as per R. 10th, and Caldwell must be Credited with the full am't ($1,200) that he owes you. 28 It appears in this transaction that you have taken up your note of $1,000, for which Bills Payable must be Debited, R. 5th. In paying for this Note you give Mdse. $578. Credit Merchandise for this am't, R. 2d, and Credit Bills Payable with $422, the amount of the new Note, R. 5th. [ 122 3 KEY. January 31. It appears from this entry, that you have received these sums of money this month, and entered them on your Cash-Book, and they not having been posted, you bring them to your Day-Book in a collected form, in order to give Credit to each respective account, the amount thereof belonging ; and likewise to Debit Cash with the whole amount received this month, which has not before been posted. Here is a collection from your Cash-Book of moneys disposed of, or paid out during the month, and which have not yet been carried to your Leger : they are brought here in a collected form for that purpose. Each account is Debited with its respective sum ; and Cash Credited with the whole amount. The object of introducing these last two entries, and rcpresentina; them as coming from the Cash-Book, is, to illustrate, as far as possible, the importance of this bootc to the pupil. This is one of the auxiliary books in business, and is, in many houses, the most important book kept. 1 would fix upon the pupil's mind its importance ; although in learning the principles of the science, he can have nothing to do with this or any of the auxiliary books to advantage. They should be of subsequent consideration ; when they will be found exceedingly simple and easy of practice. This entry represents the balance of the Cash you have on hand at the end of the month ; which balance being posted to the Credit side of your Leger account of Cash, will of course close it ; as the Cash account on the Leger and the Cash-Book must always, for their aggregate amount of both Debit and Credit columns, agree. The old account being closed, the new account must be opened on the Debit side to the balance which closed the old account. The better to understand the peculiar manner of posting this amount, see your Cash account on your Leger, under this date, and the first of next month. If you feel at a loss at any time to understand clearly the manner of disposing of the journalized entries, trace them out to the Leger, and it may afford you relief, and give such further information as you desire. Note (6th Edition). — ^A still greater advantage to be derived than any before considered ty introducing these Cash entries and those of Bank account is, in the advantage thereby gained, in practising upon the plan of closing and opening accounts, which is of frequent occurrence in business. No regard has been paid to this important practice in late publications. The closing of a set of books by Balance account, as commonly illustrated in printed works, only occurs, in practice, when you intend transferring accounts from one set of books to another set. This in business, among most houses, takes place but once in two or three years. When accounts are closed and continued on in the same Leger, they are generally closed and opened after the form you find illustrated in Cash and Bank accounts, except the word " Balance" is usea by some, instead of " Old and New Account." This Bank entry is made for precisely the same reasons as given in the foregoing explanations of Cash. Generally about once a month it is customary for merchants to " throw" their Bank-Book into bank, where it is written up and balanced, and this entry is made in pursuance thereof. You then balance your Bank account to see if they correspond. Thus you have a constant check and exposure of frauds upon your Bank operations. ¥-> February 1st, 1837. Here you give a Check on the Bank for the amount of which it must be Credit- ed, R. 6th. Merchandise must be Debited, as it is done as security against the loss of your goods by fire, etc., R. 2d. 4 , See explanation under the 4th of January, f 123 1 KEY. — — February 6 You deposite a Note in Bank, for the amount of which it must be Debited, R. Ctn, and Bills Receivable must be Credited with the same, R. 4th. You take up a Draft of Trumble's, which you accepted, by a Check on the Bank; the Bank must be Credited with the amount of the Check, R. 6th, and Bills Payable Debited with the face of the Draft, R. 5th, as when you accepted it, it became Bills Payable. The account of Interest, etc. must be Debited with the $1,50 put upon you for the neglect of not attending to it in due time. This §1,50 is about the fee usually allowed notaries for protesting; the amount varies a little in different countries. 8 Here you sell $2,486 worth of Merchandise, which of course must be Credit- ed, R. 2d. And that which you receive in payment must be Debited. For the Note $2,000 Debit Bills Payable, R. 5th, and Debit Cash for the balance, $486. R. 3d. Here you give your Note, Credit Bills Payable, R. 5th. And this is done on account of your House on Canal st.; consequently said House has incurred the expense, therefore Debit it with the $200, R. Uth. 13 See explanation under the 4th of January. 15 Here you receive a Bond. Bills Receivable must be Debited, R. 4th. You dispose of Cash, which must be Credited, R. 3d. Be careful, in entries like this, not to confuse your mind with the conditions stated, and the thing given and received. In all cases when you meet with the tiling given or received, fix the account in your mind that is to be Debited or Credited, then weigh the circumstances of the entiy, and thus improve your know ledge or capacity for such a transaction whenever it may be performed to an advantage. 17 Here yo« become indebted to Holbrook, and he must be Credited, R. 9th. The wood you purchase for the use of your store, consequently Expense, must *)e Debited, R. 8th. You purchase a Set of Exchange and remit the same to R. Trumble as so much payment on his account. He must be Debited with the amount, R. 9th. Interest, etc. must be Debited with the per cent, paid for said Bill, R. 7th. Bank must be Credited with the whole amount of money drawn, R. 6th. In this transaction the question might arise, why not Debit Trumble with the amount of premium as well as the face of the Bill? It is clearly this; if you owe a man and he resides in a foreign country, and you wish to make a remittance to him for any balance due on trade, it is understood that you will send him specie or that which is an equivalent, witliout putting him to any loss; consequently, you being the one to make the remittance, if you can obtain a Bill at a less cost than specie, you will give it preference, and tho individual, expecting remittances, would likewise give it a preference, as there are the dangers of the sea to [124] KEY. be incurred in sending specie; whereas in sending a Bill, in case accidents happen, it can at the worst only delay his payment; while on the other hand he may meet with an entire loss. -Februai rv. You take up Marble's Note by a Check. The Bank must be credited with the am't of money drawn out, R. 6th. Not believing that you will ultimately lose the money paid, you will Debit Marble in account with the am't,R. 9th. 20 See explanntion under the 4th of January. Ride pays you sundries on account. He must be Credited with the sum total paid, R. 9th. You receive a Note. Bills Receivable must be Debited with its am't, R. 4th; also Cash, which must be Debited, R. 3d. 21 Merchandise must be Debited with the ,$8,900 worth of goods you purchase, R. 2d. Bills Payable must be Credited with the ,$5,000, the am't of your Note, R. 5th, and Merchants' Bank Credited for the money withdrawn, R. 6th. ^2 — It would appear from this entry, that you had remitted to Robert Trumble a Bond for collection. He having performed .the act of trust, and now holding the money in his possession, subject to your order, informs you of the fact. You will Debit him with the full amount, R. 9th. Bills receivable must be Credited with the $1,000, R. 4th, the Bond being now exonerated; and Inter est, etc. Credited wiih the am't. of gain, R. 7th. 23 Here you sell Mdse. with the understanding that you are to take off 4 per cent, for cash; your goods are prized accordingly, and Cash is what you re- ceive, without loss to the account of Merchandise for the value of the goods disposed of. Debit Cash, R. 3d, and Credit Merchandise with the like amount, R. 2d. Here you dispose of Merchandise for a Note. The amount of the Note is the value of the goods sold; but discovering, when too late, that you had taken bad paper, you concluded to sell it at a loss of 10 per cent. Not having disposed of your original entry on your Journal, you readily annex the circumstance of the disposal of the Note, and make the balance for the Credit of Merchandise (R. 2d.) appear in the accounts of Cash (R. 3d.) and Interest etc. (R. 7th), as it is Jour nalized agreeable to these rules. There is a nice distinction between this entry and the one preceding, and it is the circumstances attending upon the operation, which guides the Accountani in giving the proper Leger titles, in conformity to said cir cumstances or understanding. [125 1 KEY. -February 24- James R. Marston, having failed to pay his Note, must be Debited in account, R. 6th and 9th., and the Bank must be Credited with the like amount, R. Gth. You receive of Marston ,$70 on acconnt, give him Credit, R. 9th. Debit Cash with .s55, the amount of money received, R. 3d, and Merchandise with $15, the value of the shirting, R. 2d. 25 You receive an Acceptance, l^ills Receivable must be Debited with the same, R. 4th.' It is on account of Marble, give him Credit, R. 9th. See explanation and entry under date of January 16th, 1837. See explanation under January 4th, 1837. ■ 27 ■ • It appears from this transaction that you purchase Merchandise to the amount of ,$900, which of course must be Debited, R. 2d. In paying for this Mdse. you dispose of a Note; Bills Receivable must be Credited with its face, $1,000, R. 4th., and in disposing of this Note, you dispose of the Interest on the Note up to this date, consequently give this account Credit with its $35, R. 7th. Now you perceive that you have overpaid for this Mdse. by $135, which Kimn settles by paying Cash; the account of Cash must Debited with the same, R. 3d. You see that there is in thisentiy four accounts of the Leger effected ; two accounts to be Debited, and two to be Ciedited, and that on the Journal it is thus expressed, " Sundries Dr. to Sundries." There are many accountants who object to this expression, when the Journal is kept after this form, and with some plausibili- ty. They may, I believe, be confuted with reason, and the above is a case in point. There is a way of Journalizing this entry, and others of a similar nature, without using the expression of Sundries to Sundries: as thus. Merchandise Dr. To Bills Receivable •••••' $900 Cash Dr. to Sundries, Bills Receivable • -.- $100 Interest 35 •• 135 Now you perceive from this form of Journalizing, that it requires one more posting to the Leger, than the other form, which renders it objectionable; not more from the fact of your having divided an amount, than your having given yourself more writing, in geting the amounts of the Day-Book to the Leger, than was ne-- csssary. To conclude, 1 would recommend in all cases, when by using the expression " Sundries to Sun dries," you may avoid dividing any one of the amounts of an entry, to make use of it, but under no other cir cumstaaces, is it admissible. See the second explanation under January 10th. [ 126] KEY. February 28 ■ Merchandise must be Credited for the whole amount of goods sold, R. 2d.' That which you receive in payment must be Debited. Debit Bills Payable with the amount of your Bonds, R. 5th. Debit Bills Receivable for the amount of, their Note, R. 4th, and Merchants' Bank for the amount of money you received and deposited, R. 6th. ; You perceive something peculiar about this entiy. You receive in part payment for these goods your bonds on them for the duties. This Merchandise is sold a"? subject to Debenture. You see by this that the individuals who take the Merchandise which is subject to Debenture Jrom the country, save to themselves the amount of Custom House duties. This privilege of Government is granted that we, as a people, may enjoy what is called the "Carrying Trade." For if the traders in our neighboring nations can purchase articles of foreign manufacture as cheap from us as they can wiicre these articles are produced, by the difference only of the transportation and a slight commissirtn, they, not wanting large supplies of said articles, will be more likely to cnme here to trade, than to go a greater disiance from home. The advantage to be derived in thus securing a part of their trade, is, that we are likely to engross the whole. This is the present relation which the Merchants of the United States now bear towards the Merchants in Mexico, South America, and the traders beyond the Rocky Mountains. For the explanation of the four last entries of this month, see the explana- tions of the lour last entries of the month of January. March 1st., 1837. This United States' Bank Stock conditionally becomes yours, there'')re it must be Debited with what it has cost to bring about this condition, R. 1 1th. Merchants' Bank must be Credited with the amount of money withdrawn, R. 6th. Merchants' Bank must be debited for the ,$2,055,35 deposited, and Bills Re- ceivable Credited with $2,035, this Bill being disposed of, R. 4th, and Interest, etc. Credited with the Premium, R. 7th. You purchase a piece of Real Estate, known by the name of " Simmons' Plantation," which must be debited with the full cost ($'10,000,)R. llth.^ You pav for the plantation bv turning out Merchandise to the amount of S'2,000, which must be Creditedlj R. 2d. Bills Receivable must be Credited with the amount of Bouhnnan's Note, R. 4th. Cash must be Credited for $2,200, R 3d, and Merchants' Bank Credited for $2,800, R. 6th. In this entry you perceive that House No. 35, Canal street, must be Credited with the $G,000, R. 11th. You liquidate your Note of $200, for which Bills Payable must be Debited, R. 5th. Y'ou put money into Bank which must b«» Debited, R. 6th. This present to the University of Vermont is an entire loss, for which am i. ^ " [ 127 ] KEY Profit and Loss must be Debited, R. 10th. Stedman must be Credited for the value of tJie books bouglit on account, R. 9th. March 9. You sell your i-efusal of 200 shares of U. S. Bank Stock, which must be Cred- ited, R. 11th. and the account of Cash must be Debited with the amount of money received, R. Sd. Debit U. S. Bank Stock for the amount of its gain, R. 11th. and give Profit and Loss Credit for the same amount, R. 10th. Cash must be Debited with the amount of money found, R. 3d. and it being a gain. Profit and Loss must be Credited R. 10th. Simmons' Plantation must be Credited with the -94,000, R. 11th. You take up one of your notes by this operation; Debit Bills Payable with its amount, R. 5th. Debit Interest etc. with the per cent, allowed on your note, R. 7th. and for the money you receive and deposit, Bank must be Debited R. 6th. 10 You have conditionally purchased the Steamer Hope, and make a part pay- ment of $500 on said purchase, you will Debit said Steamer to this sum, R. 11th. and give Cash Credit for the money paid out, R. 3d. 11 This being Edward Clinton's property, he must be Credited for the whole amount, R. 12th. House No. 110, Camp street, must be Debited with its value $15,500, R. 12th. Planters' Bank Stock Debited with .$11,500; and Merchants' Bank Debited with the amount of money deoosited, R. 6th. 13 Here yon receive $1,000, for which sum Cash must be Debited, R. 3d. One half of this money, $500, is refunded on account of Steamer Hope, which must be Credited, R. 11th. The remainder $500, is a gain, which you will put to Profit and Loss, R. 10th. Here you deposit money in Bank; Debit the same with it, R. 6th. This money is received in liquidation of a Note, Credit Bills Receivable with the amount, R. 4th. [128] KEY. March 15 Credit Cash with the $'800 paid out, R. 3d. Debit Steamer Sun with the same, as it is on account of the purchase of this Stock, R. 11th. IG Here you receive a Note; Debit Bills Receivable, R. 4th. It being on account of Edward Clinton, he must be Credited with the same amount, R. 9th. You now pay for the balance due on Sleamer Sun: Debit it with the same, R. 11th. In this payment, Hostetter takes up his own Note, for which Credit Bills Receivable, R. 4th. Credit Interest etc. for $74, R. 7th. Credit Bills Pay- able for the amount of your Note, R. 5th. and Merchants' Bank for the amount of the Check, R. 6th. 20 You here give your Note; for which amount Credit Bills Payable, R. 5th. It being done on account of Edward Clinton, he should be Debited, R. 9th. 27 Here is an estate which is presented to you, and becomes a part of your pro- perty. Your account of Stock must be Credited with the whole amount, R. 1st. The amount of Notes you receive must be Debited to Bills Receivable, R. 4th The lands Debited to the title of "Texas Lands," R. 11th. and Merchants' Bank Debited with the money you deposit, R. 6th. Many accountants would put this entry to the Credit of Profit and Loss. If the sum was quite small, say a few hundred Dollars, as it would make no material difference, it might do to dispose of it to this account But as it numbers several thousands, it most unquestionably should be disposed of to the account of Stock. It is an estate added to youv estate, and does not, from any exertion of your own, form a part of your property. It is an estate coming to you by accident, not from any trade or speculation of yours ; therefore it should not, (it being a material amount) be put to Profit and Loss, for the account of Profit and Loss is intended to show what you make in business, by trading, etc. House on Canal street must be Debited with the amount it cost to rebuild it> R. 11th. Bills Payable must be Credited with your Note passed off', R. 5th. and Bank Credited with the money withdrawn, R. 6th. - 28 As you do not deem the amount of this Bill of Marble's a loss, you will Debit him in account with its present value to Anderson, R. 9th. Its present value to Anderson includes the damages. This is wholly a transaction in its origin for the benefit of Marble; consequently he should as well be debited with the damages as the face of the Bill. To understand this entry more clearly, trace out its ori- gin. See February 17th, and 25th, and March 2d. Bank must be Credited with the amount of money withdrawn, R. 6th. o [ 129 ] KEY. • • April In this fciilr)' you receive Bonds to the amount of $ 10,000, for which Bills Re- ceivable must be Debited, R. 4th. Now the question arises, what account shall be Credited by this amount ? It would most generally seem at first to be the account of Stock which should be Credited. But this account will not answer, because these bonds are not drawn in your favor, but in that qf your heirs. They are not to benefit you, but those that are to come after you ; besides, you only hold them in trust. It, then, for its Credit, should be disposed of according to Rule 12th. Now for the title of the account ; I have called it " Expectancies ;" and for this reason : You expect to die, and you expect when you die that your heirs will expect to receive some benefit. The title of this account will be somewhat novel, and may pro- voke a smile. It will do to puff a segar over, and conclude, at least, that if we cannot be of benefit to our friends by living, we can, without much trouble or ex- pense, serve them in dying. Profit and Loss must be Debited with $850, R. 10th, and Cash Credited with the same amount, R. 3d. Note. — It has been said by some few who are but partially acquainted with the science of accounts that U was not correct to make this ejitry, at least that part which relates to the $10,000 bonds. The legitimate object of Book-Keeping is to represent the precise state of a man's pecuniary affairs, his property, or convertible means. An insurance of lile is i'requently convertible means. Money is often raised on such insurances, while the person whose life is insured remains alive. One of the most important objects in keeping a set of books is, that a man's heirs may have a full and nnquestionable reference as to the effects left. And if a set of bodes is kept, the heirs, ff in youth at the decease of their benefactor, seldom or never, on coming to maturity, inquire after loose papers for documents of value. Again, if a man's affairs are but half set forth, notes, bonds, and the like, may be embezzled, and the lawful heirs defrauded ; and the very books themselves may be brought as evidence to screen the persons committing the defalcation. Entries of this description, or that part which relates to the bonds, in no way affect the other parts of the books. It is but a memorandum made in scientific form. The net profits of your business remain the same. It is one of those entries out of which no evil can come, although much good may result. There are many other peculiarities in this work ; an illustration of the science in much higher branches than before published. And because the author had not precedents to go by, his illustration of an intrusted real estate (see fol. 3S) has even been questioned. Were we not as averse to long arguments in sustaining self-evident truths and unquestionable rules, as to a half-kept set of books, we would extend this note to a volume. For the last four entries of this month see the explanations of the last four entries of the month of January. April 1st, 1837. You will find in this, and the month of May, an entire different class of entries from those yon have had Constant reference is here given to a Commission-Sales-Book (C. S. B.) and Sales-Book (S. B.), where the foods sold and here referred to, may be found in detail : see Forms for keeping a Sales-Book and Commission- ales-Book. In Commission, and many branches of heavy business, the Sales-Book is used ; and in which case, if you do not post direct from this book, your Day-Book entries will be the same as you find illustra ted in this month. You take up a Draft of Trumble's which is drawn on you at sight. He must be Debited with its amount, R. 9th, and Bank must receive a credit for the amount of money drawn out, R. 6th. 3 Bank account must be Debited with the amount of these Notes deposited, R. 6th, and Bills Receivable Credited, R. 4th. 5 Patent Arms Co.'s Sales must be Debited with the $390, this being an expense on the goods consigned, R. 13th, and Patent Arms Co. must be Debited with the [ 130] KEY. amount of their Draft, ($2,000,) which you take up, R. 9ih. Bank account muse be Credited with both amounts as they are paid by Checks, R. 6th. The reason of your keeping a sales account apart from the personal account, is, brcause in rirawintj off an account of sales, you are thereby relieved from trouble and perplexity. For should you put the Debits and Credits of this rej)resentative account to the personal account of the consigner, you would find that the amounts of the Lvger, when traced back to the original entry, would have in many cases no connexion with the sale and expense of said goods : and in making out an account of sales, you but give in detail the sales and expenses attendant on the consignment. And, consequently, as it becomes necessary in doing business to make out an account of sales, the manner of keeping your account therewith connected, should be so Arranged as to save in the end the least possible trouble. April 7 Gaines & Hardon's Sales must be Debited with the $6.50, as so much expense on receiving the goods, R. 13th. Cash must be Credited with the same amount, R. 3d. Gaines & Hardon must be Debited with $200, R. 9th, and Bank Credited with the like sum, R. 6th. Porter must be Debited with the whole amount of goods purchased, R. 9th. Patent Arms Co.'s and Gaines & Hardon's Sales must each be Credited with their respective amountSj R. 13th. 10 Biljs Receivable must be Debited with the Note you receive, R. 4th, and Patent Arms Co.'s Sales must be Credited with the amount of goods sold, R. 13th 11 Cash must be Debited with the whole amount of money received, R. 3d. Pat- ent Arms Co.'s Sales must be Credited with $300, the amount of their goods sold, R. 13th, and Gaines & Hardon's Sales must likewise be Credited with $110, ac- cording to the last-mentioned rule. The expression " From Store," or " Goods from Store," or "Merchandise from Store," always has refer ence to your Merchandise account, which of course must be Credited with the amount of all the goods you keep to sell of your own on a regular account. 12 The whole of this sum, $1,661.50, is an expense on Trumble's goods; his sales must therefore be Debited with the same, R. 13. Bills Payable must be Credited with $1,440, the amount of your Bond, R. 5th, and Bank for the money drawn, R. 6tL 14 Bills Payable must be Debited with the $1,000 which you now pay, R. 5th, and Bank Credited with the money drawn, R. 6th. . . 15 It would appear from this transaction, that you had consulted Gaines & Hardon, to see if they would take Shinder's Note for their goods; they con- senting, take the Note, consequently, havmg the proceeds of the sale of their goods, they in account personal must be Debited, Rule 9th, and their account of Sales must be Credited with the like amount. Rule 13th. Their goods being all disposed of, you now proceed to close their account Sales ; and to ascertain your commission, you introduce the whole amount ($2,240.50) for what their goods have been sold. Your commission is $112.02, your account by this title must be Credited with the same, Rule 16th. You see the expression, " Charges [ 131 ] KEY. jsted $6.50;" this is merely introduced here to show how you ascertain the balance of the account, (,'§'2,"l21.98,) to be closed to their Credit. This sum. $6.50, and your Commission ^112.02, is the whole amount of charges to the account; and which together being deducted from the whole amount of sales, (|2,240.50,) leaves the balance of their sales account (2,121.98,) which must be closed to their personal account, R. 13th. ■ April. James Bennet appearing to be the owner of this money which you found, must be paid. Profit and Loss had a Credit for this sum when found, it must now be Debited, R. 10th, and Cash Credited with the money paid out, R. 3d. According to R. 13th, Pell's Sales must be Debited with the whole expenses, ^^,2,405,63) attendant upon receiving the goods. Bills Payable must be Credited with $1,440, Bonds at the Custom House, R. 5th. Bank must be Credited with $950.25 money withdrawn, R. 6th, and Cash with $15.38, money paid out,R. 3d. 17 It appears from this trahsaction, that you gave a Check on the Bank with which you do business, to liquidate a Note of yours held by the Orleans Bank. Your Bank account must be Credited with the amount of money withdrawn, R. 6th, Bills Payable Debited with the $8,000 the face of the Note, R. 5th, and Interest, etc. Debited with ($140) the sum allowed on said Note, R. 7th. 18 . . ' Bank account has got the proceeds ($11,891.99) of Pell's Sales, and must be Debited for the same, R. 6th, and Pell's Sales must be Credited, R. 13th. Pell's Sales must be Debited with $606.59, as an expense attendant on selling the goods, R. 13th. Cash must be Credited with $186.88, for this sum ex- pended, R. 3d, Commission Credited with $416.21, your per cent, on the sales, R. 16th, and Credit Expense with the trifle of $3.50, which is the cost of ad ^'ertising, R. 8th. 19 — Pell's Sales must be Debited with $8,879.77, agreeable to the last part of R. 13th. Cash must be Credited with $488.38 money paid out, R. 3d, and Bank must be Credited with $8,391.39, money drawn, R. 6th. 20 ^ Debit Bank with $3,700 money deposited, R. 6th. Credit Patent Arms Co.'s Sales with $lj200, and Trumble's do. with 2,500, R. 13th. 21 It would appear from this transaction, that Johnson held a Draft on Corwin & Stamper, for $5,000, which they refuse to exonerate. You knowing of the circumstances, say to said Johnson, Now if you will take such and such Merchandise, I will take up the Draft. He complying, Trumble must be Debited with $5,000, the amount of the Draft, R. 9th. Trumble's Sales must be Credited with .3,333.33, as so much of his goods sold, R. 13th, Merchan- dise Credited with .«!l, 110.50, R. 2d. and Bank Credited with $556.17, money- withdrawn; and which makes out the whole of the Draft $5,000. [132] KEY. April 22 Patent Arms Go's Sales must be Debited with $430, R. 13th. Cash must be Credited with the same ainount, K. 3d. Patent Arms Co. must be Debited with $2,808.50, R. 9th. Bank must be Credited with |;2,801.50, money- drawn, R. 6th, and Credit Interest, etc. with $7.00, your Brokerage, R. 7tn. 20 Debit Bank with $2,010.50, money deposited, R. 6th, and Credit Trumble's Sales with the same amount, goods sold, R. 13th. Credit Commission with $392.19, R. 16th. Credit Trumble with $5,790.14, R. 13th, and. Debit the Sales with the whole amount, $6,182.33, R. 13th. The better to uaderstand this entry, it may be well to read the explanation under the 15th of this month, where an illustration of closing an account sales is more fully explained. 28 Debit Cash with $2,000, money received, R. 3d. Credit Patent Arms Co's Sales with 1,500, R. 13, and Merchandise with $500, R. 2d. 29 Patent Arms Co. must be Debited with $3,000, R. 9th. Cash must be Credited with $1,000, money paid out, R. 3d, and Merchants' Bank with $2000, money- withdrawn, R. 6th. For the explanation of the four last entries of this month, see the explana^- nation of the four last entries of the month of January, each in order. Mat 1st. Shipment to Lisbon must be Debited with the whole amount, $3,144.50, R. 14th. Credit Merchandise with $3,000, R. 2d, and Credit Cash with $114.50, R. 3d. Debit Cash with the whole amount (1,010,) of money received, R. 3d., Credit Trumble with the amount of the Draft, ($1,000,) R. 9th; and Credit In- terest, etc. with the gain, R. 7th. Debit Shipment to Lisbon with the whole amount ($19,213.81) of goods sent, R. 14th. Credit Merchants' Bank with $15,000, the amount of money withdrawn, R. 6th. Credit Bills Receivable with $2,700, the amount of Shafer's Note, R. 4th. Credit Merchandise with $1,2()3.50, goods from Store, R. 2d, and Cash Credited for shipping expenses, R. 3d. [133] KEY. ■May 6- You see in this transaction, that you receive a Note amounting to $5,000, for which Bills Receivable must be Debited, R. 4th. Debit Bank with the amount, (^5,075) money you receive and deposite, R. 6th. The Credits are Robert Tru'rnble -S' 10,000, for the amount of the Drafts, R. 9th, and Interest, etc. with $75, for the amount of premium, R. 7th. 8 Debit Robert Trumble with the whole cost ($999,10) of this shipment, as these goods are disposed of on his account, R. 9th. Credit Merchandise with $900, R. 2d. Credit Bank for the amount ($70) of money withdrawn, R. 6th, and give Commission Credit with your per cent. ^29.10, R. 16th. 10 Debit Bank with the money deposited, R. 6th, and give Bills Receivable Credit with $750, the amount of the Note, R. 4th. Debit Trumble with the net amount that these goods sold for at Lisbon, R. 14th, and give Shipment to Lisbon Credit for the same amount, R. 14th; Debit Trumble with the amount of his Draft which you take up, R. 9th, and give Bank Credit for the money drawn, R. 6th. 11 See the 2d explanation under the 10th of this month., Debit Shipment to Lisbon with this gain, R. 14th, and Credit Profit and Loss ■with the same amount, R. 10th. Debit Merchants' Bank for $19,603.89, money deposited, R. 6th. Credit Robert Trumble with $19,555.01, the amount of the Draft, R. 9th, and give In- terest etc. Credit for the premium, $48.88, R. 7th. 12 Debit Shipment to Buenos Ayres, Co. A. with $2,660, R. 14th, and give Hd- brook Credit for the same amount, R. 9th. 13 Each partner must here be Debited with his share, R." 14th. John Russ with $2,006.95, William Ellery with $2,006.95, and Shipment to Caraccas, Co. D., (which is your representative account,) with . $2,006.95. Credit Bank with ($3,500,) the amount of money drawn, R. 6th. Credit Bills Payable with $1,572 the amount of your Note. Credit Wm. Ellery with $850, the amount [ 134 ] KEY. he puts in, R. 14th, and also Credit Cash with $98.85, for this sum paid out, R. 3d. You perceive in this entiy, tiiat Ellery is Debiterl and Credited. As he is a partner, he must be Debited with his third; and being Debited with his portion, he should be Credited with what he puts in. You, your- self, are Debited with only your third, and have a balance in the account of Russ &, Ellery for the expenses that you are at, above your one-third of the shipment. ■May 17. In this entry, John Holbrook must be Debited with ,$2,CG0, which includes your half of the net sales and loss on Shipment to Buenos Ayres, R. 9th. Shipment to Buenos Ayree must be Credited with your half of the net sales, R. 14th, and Merchants' Bank must be Credited with the amount of Check which pays the loss, R. 6th. Shipment to Buenos Ayres must be Credited with its loss, R. 14th, and Pro- fit and Loss must be Debited with the same, R. 10th. 19 Debit Bank with the $2,550 deposited, R. 6th. Give Russ Credit for $2,500 the amount of the Draft drawn on him, R. 9th, and give Interest, etc. Credit for the premium of $50, R. 7th. 24 Debit Bank for the amount of money deposited, R. Cth, and Credit Ellery with the same, which he pays on account, R. 9th. 26 — Debit Russ with $2,586.37, the net amount he owes you on account of Shipment to Caraccas, Co. D., R. 14th, and give said Shipment Credit for the same, R. 14th. Debit Bank with the $2,093.32 you deposite, R. 6th, and give Russ Credit for the same amount, R. 9th. Shipment to Caraccas, Co. D. must be Debited with its gain, R. 14th, and Profit and Loss Credited with the same amount, R. 10th. 27 ■ Each of these partners must be Debited with his third, after the same form as you will see by turning to the explanation under the 13th of this month, R. 14th. Credit Merchandise with $2,500, R. 2d. Credit Merchants' Bank with $6,000, R. 6th, and Credit Cash with $347, R. 3d. 31 For an explanation of these four last entries, see the four last explanations in the month of January. [ 135 ] KEY. June, 1st, 1837. Debit Molasses No. 1 with $2,998.50, according to R. 15th. Credit Bank with $2,970, money withdrawn, R. 6th, and give Cash Credit with $28.50, money disposed of, R. 3d. The large enveloped letters you find on the niaigin of this class of entries, have reference to tlie marks on the hogsheads, boxes, etc. It becomes necessary to iiut ihem down, for in business of this kind, you are liable to have two or more lots of the same article, and th* pmper way of distinguishing them is by their respective marks. Debit Carr with $1,705, R. 9tli, and give Molasses, No. 1, Credit for the same amount, R. 15th. Debit Flour Co. A. with $20,022,50, R. 15th. Credit Merchants' Bank with $20,000, R. 6th, and also Credit Cash with $22,50. Bills Receivable must be Debited for the amount of this Note you receive, R. 4th, and Hibbard must be Credited for the like amount; R. 9th. Debit Bank with $3,000 deposited, R. 6th, and give Loan Account Credit for the same amount, R. 17th. See, now, if you did not put this money, when you lent it, to the personal account of Brown & Edwards; if you did, close said account, and open your Loan Account. I think it is as well, in actual business, if you are much in the habit of lending money, to keep a Memo- randum Book in your Cash drawer; which you will call Loan Book-, and let the individual who bonovcs money write an acknowledgment on it of tlie fact, and the circumstances if necessary. By this racans you will avoid the Loan Account on the Leger, which I have introduced here to illustrate the principle of keep- ing some account of the kind, either on a Memorandum Book or your Leger, which is always substituted by good accountants, instead of putting monies lent to the account direct of the borrower. It will be an easy matter to turn to your Loan Book when you balance your Cash, to see if money is out. 11 Debit Bank with the whole amount of money deposited, R. 6th. Credit Molasses No. 1. and Flour Co. A., each with their respective sums, R. 15th. 12 Debit Molasses No. l,with $356.50, R. 15th, and Credit Profit and Loss with the same amount, R. 11th. 14. Debit Bank with $10,500, money deposited, R. 6th, and Credit Flour, Co. A. with the same amount, R. 15th. 16 Flour Co. A. must be Debited with $977.50, R. 15th. Credit Commission with $210, R. 16th, and Credit Profit and Loss with vour half net gain, and E. B. Hibbard for his half, R. 15th. ' [ 136 ] KEY. June 19' You have settled with Hibbard for the balance of his account. Debit him with ,| 10,333.75, the whole amount you pay him, R. 9th. Credit Bills Receiva- ble with ^10,000, the amount of his Note, which is now settled for, and give Bank Credit with ^383.75, money withdrawn, R. 6th. 21 Debit Bills Payable with ^5,000, R. 5th. Also Debit Interest with $100, R. 7th, and give' Bank Credit with the money withdrawn, R. 6th. 22 Debit Sugar, Co. R. with $11,000, the one half first cost, R. 15th. Credit Wm. May with ,^110, which sum he owes you on account, and goes towards paying him for half the cost of the Sugar, R. 9th, and Credit Bank with $10,890, money drawn, which pays the balance, R. 6th. 25 Debit Wm. May with $12,000, R. 15th, and Credit Sugar, Co. R. with (ha same amount, R. 15th. Sugar Co. R. must be Debited for its gain, and Profit and Loss Credited with the same amount, R. 15th. 26 Loan Account must be Debited with this amount of money lent, R. 17th, and Bank Credited with the same sum withdrawn, R. 6th. Debit Merchants' Bank for the money Deposited, R. 6th, and Credit Wm May with the same amount, which he pays you on account, R. 9th. 28 Cotton, No. 1, must be Debited with its cost, R. 15th, and Merchants' Bank Credited with the amount of money withdrawn, R. 6th. Bank must be Debited for this sum deposited, R. 6th, and Loan Accounti Credited with the same amount, R. 17th. Expense is Debited for the rent of Store, R. 8th, and Merchants' Bank Credited with the amount of money withdrawn, R. 6th. R [ 137 ] KEY. Expense is debited for Clerk hire, R. 8th, and Law must be Credited for the amount you owe him, R. 9th. -June.- Foran explanation of these four last entries, see the explanation for the four last entries of the month of January. These two entries arise from the preparatory steps to clbsing Books. Hav- ing taken off your Trial Balance for the last six months, you proceed to ex- amine such accounts as have a double closure. Merchandise is the first. Taking the goods in Store at $5,000, agreeable to the rule for closing Books, you produce a gain of ,$'2,609.97. Merchandise must be Debited with this gain, R. 2d, and Profit and Loss Credited, R. 10th. You next take Simmons' Plantation and Steamer Sun, valued each at $10,000, and by the same method that you obtain the gain on Merchandise Account, (according to the rule for closing Books,) you will obtain the gains here stated; which gain is disposed of as in Merchandise account. Valuing House No. 35, Canal street, at $10,000, you perceive, as per rule for closing Books, that you have lost on said property $1,250, for which amount Profit and Loss must be Debited, and House No. 35, Canal street Credited. By taking this Clinton Estate at its original valuation, and by the same rule, as you ascertain the gain on your respective property accounts, there ap- pears to be a gain to Clinton to the amount of $1,145, for which he should be Credited. House No. 110 Camp street, must be Debited with $800, and Planters' Bank Stock must be Debited with $345, each to them belonging, which makes the sum. Clinton must be Debited with your Commission for attending to the manage- ment of his property, R. 9th, and Profit and Loss must be Credited with the same amount, R. 10th. Journal, June 30th, 1837. These accounts that you see here Journalised are taken from the Grand Balance Sheet. Profit and Loss is first made Debit to those accounts that are an expense, etc. The account of " J. C. Colt" you understand to be your personal expense account, and consequently should be closed to Profit and Loss, for the same reasons that you close Expense Account to it. Interest, etc. and Commission are next Debited to Profit and Loss, as they represent a gain by their respective sums. [ 138 1 KEY. Profit and Loss is then closed to Stock for your net gain in businesss. Balance is then made Debtor to the next following accounts ; and then to the reverse, Credited by those that follow. Finally, Stock is Debited with what you are worth, and balance Credited with the same amount, which makes an entire finish of your Books. N. B. Look to the Rules under the head of which these acou unts fall, and you will see that they Bhonld be as they are here disposed of. Examine your Grand Balance Sheet closely. [ 139 ] % PRACTICAL FORMS FOR KEEPING BOOKS PKACTICAL FORMS. AN ILLUSTRATION OF SIMPLE PRACTICAL FORMS, FOR KEEPING BOOKS BY DOUBLE ENTRY, IN TRADING HOUSES OF THE NARROWEST OPER \TIONS, AND THOSE OF THE MOST UNLIMITED EXTENT. PRELIMINARY REMARKS. In part first of this work, all has been so arranged as to give the pupil the most efficient and complete knowledge of those accounts that make up the main body of the science — the various practical forms for making the original entries which are now in use, and a full knowledge of the great diversity of commer cial operations that arise among every description of traders; each peculiar form of entry of the leading houses of trade by itself, classified as much, perhaps, as it is advisable, that the pupil may obtain with ease a knowledge of the various descriptions of entries used in different houses, without troubling himself with an unnecessary remembrance of such divisions, and subdivisions, as might be given in putting in complete order every description of entry that may be con- ceived of or occur in business. In a word, Part First is arranged for giving the pupil an ample knowledge of the science. Supposing then that you are master of the main body of the work and quahfied for entering into active busi- ness operations, we will next proceed to give such business Formulas and Ex- planations, as will render the science acceptable to every individual, high and low, who may be engaged in commercial pursuits. And the more so, we be- lieve, from the fact, that authors, who have heretofore published works, seem to have entirely overlooked this part of the study of Book-keeping, or have regar- ded it as the least deserving of their attention. It is unnecessary to say,that being master of the following forms, you will not force your business transactions to yield to any particular one of them, but rather adopt, under various contingencies, that form which best coincides with your operations, after modifying it agreeably to your own judgment of the application of the principles of the science under the circumstances that may exist. C H3 ] PRACTICAL FORMS. ' , SET No. 1. Before we proceed to describe this set, which is adapted to the most hmited oranches of business, let us understand that one object of adopting particular forms to suit different branches of business, is to prevent as much as possible, at unnecessary writing. The following book we term a " Sales Book," not more from its being confined entirely to the sales of Merchandise, than to distinguish it from others. You will perceive by an examination of this book, that it contains in detail, an account of merchandise sold to different individuals on a credit. Entries of this kind com- prise from one fourth to one half of the sales of merchandise, in what is denom- inated, "Retail Stores;" which stores comprise about three quarters of the tra- ding houses throughout the commercial world. For all entries of this kind, there is no necessity of. keeping a Journal, or of journalising them in order to get the amounts to the Leger. Each man's name is the proper title of his ac- count, and he has only to be debited with the amount of goods purchased: con- sequently, you will post directly from this book to the Leger, and give the Leger folio on the margin; which signifies that you have carried to the individ- ual account on the Leger, the total amount of goods comprised in the entry to which the number of the Leger page is annexed. We then have each of the accounts debited with their respective amounts. But says the law of book-keeping, " in amount every debit must have a cre- dit." Now from the very title of this book, you understand that the object of keeping it is to confine it to the sales of merchandise alone. And as it makes no difference in point of principles or effect, whether the account of merchandise IS credited with each separate amount of goods sold, or whether it receives in aggregate amount the sale, of a day, week, or month; suffice it to say, that you have in this illustration, for the business of a week, but one single post made to the credit of merchandise; which you see is the amount ($ 583,10) of the whole sales carried forward for the time taken. Now, at your pleasure, from this plan, you perceive, you may give mer- chandise credit, oftener for the amount of goods sold, or extend it to a month: and accomplish all the requisites of Keeping bioks by Double Entry. When you have examined this book to your own satisfaction, take the next in order, and so on till you have completed the set; and you will soon see with what little trouble you may apply the principles of Book-keeping by Dou- ble Entry to any Retail Store, and yet retain all the advantages to yourself, that a mammoth house may well so proudly pride itself upon. ri44-i . PRACTICAL FORMS. SALES BOOK. Cincinnati, January 2, 1837. 2S 19 56 71 36 82 29 47 Sold Geo. Richards, 10 yds. Striped Cassimere, (a) $2, 5 « Fancy do. Q ^1.50,- 5 « Blue do. (a) ^2.25, ■ •20,00 ••i7,50 •11,25 Sold John W. Heard, 5 yds. Super Sattennett, © §1.50, 11 « Blue Broadcloth, © §3.50, 4 ps. 112 yds. Bleached Sheetings, fa) 20(|?- •••7,50 •38,50 •22,40 Sold Mershon & Wilson, 12 Mackinaw Blankets, (a) §3.50, 2 ps. 65 yds. Kentucky Jeans, fa)^§1.10,^ •§42,00 •••71,50 Sold David M. Lawrence, Ah yds. Petersham, (a) §1.75, 9 " Black Broadcloth, © §4.50 4 " Cadet mixed Sattennett, (a) 1.20 • 2 prs. Gloves, •§7,87 •40,50 •••4,80 •••2,00 Sold Charles A. Reeder, 13i yds. Blue prints, fa)29(j?- 48 " Black do., (a)25(^-- •§3,82 •12,00 Sold James C. Wilson, 2 doz. Coat Buttons,© 50(j? 1 « Vest do., 1 Silk Vest Pattern, Sh yds. Black Broadcloth, (a) §5,^ •§1,00 38 •••2,50 •27,50 Sold Frederick Jackson, 2 ps. 63 yds. Bleached Shirtings, Q 18(j?- 2 ps. 6I§ yds. do./ Sheetings, (a)2\(s*--- 79 yds. Duck, (a) 16|(|? •§11,34 •••12,91 ••■13,16 Sold Wrri. P. Hulbert, 10 ps. 307 yds. Bleached Shirtings,® 11(|?- 12" 361 do. Sheetings, fa)13(}? •§33,77 • ••46,93 Amount carried forward, 11 75 68 113 40 50 55 15 17 82 31 37 38 41 80 70 441 13 PRACTICAL FORMS. Cincinnati, January 5, 1837. 26 42 43 13 17 21 I 61 Am't brought forward, Sold James B. Bell, 49 yds. Shirting, (S) 12i({?- Sold Thomas Spooner, 1 doz. Cotton Socks, 2 Linen Handkerchiefs,- •§2,75 •••3,00 6 Sold John Haslette, 1 pr. Elastic Suspenders, 1 « Gloves, 35 yds. Black Broadcloth, fa) 42 " Cassimere, (a) §2, 14 « Shirting, (cD 12(|? •^2,00 75 ■17,50 •••9,00 • ••1,68 Sold Frederick Blair, 15 yds. Linen, (a) 90(|? 8 " Flannel, (a) 70(|? 1 pr. Pantaloon Straps, 2 Linen Hdkfs., © gl.50- 2 Silk do., (5) SI, •gl3,50 5,60 25 3,00 2,00 Sold Wm. Ward, 1 Hair Stock,^ 1 Satin do. 1 pr. Gloves,— .^1,50 •••2,00 • ••1,00 Paid in Mdse. Benj. M. Pedou's Order in favor of John M. Lee,- 45 Sold Saml. P. Allen, 12 yds. Kentucky Jeans, Q $1, §12,00 2 Blankets, 7,00 1 Silk Umbrella, • 6,00 Sold Wm. L. Spooner, 45 yds. Drab Broadcloth, (S) $4,- 14 Buttons, 4 do., 4 Skeins Silk, 1 Twist, .jgl8,00 90 12 24 6 ri46i Posted,- 441 6 13 12 75 30 95 24 3i» 4 26 50 OC 25 00 19 58S 32 10 PRACTICAL FORMS. CASH BOOK. The following is an illustration of a Cash Book. The object of which is to keep a correct account of all moneys received and paid out. The first column contains the sums of all cash received ; this is the Debit column : and the second, the sums paid out, which is the Credit column. It is frequently the case, as you will see illustrated in set No. 3, that one page of this book is used exclusively for putting dov.'^n the Debits, and the corresponding and opposite page is occupied for the Credits of Cash. By reading over the entries in the following illustration, you will perceive that It is carried to an extent quite sufficient to show that all the cash transactions of the greater nuniber of trading houses, may be made directly upon this book, and, also, may be posted directly to the Leger without journalizing. The column on the left hand side adjoining the dates, is for giving the post mark. You see by examining this book the expression, "Mdse. Sales" under each date. This includes all the moneys received for that day for the sale of goods; which money goes into the receiving drawer, and at night is counted out and transferred to the desk, when this entry is made. This amount goes to the Debit column of cash, as well as all the other moneys received; but like all other amounts in this column, must, when posted to the Leger, be carried to the credit side of each respective account. And likewise, the amounts that appear on the credit of Cash, must be posted to the Debit of their corresponding accounts. By this manner of posting, you will have but one entry to make to merchan- dise account on the Leger for all goods sold for cash each day. And if you choose, you may even omit to post the separate amounts of the Cash Sales of Merchandise until the end of a week or month; when you may make a coUec tion of all sales for the time taken, and give Merchandise Credit for the aggre gate amount of said collected sums. Once a week, or once a month, you must be careful to post to the cash accdnnt of the Leger the whole amount of the money received and paid out for the time taken, as will appear from footing the Cash Book; being careful, however, not to include the old balance of the account; for recollect, that this amount has no credit in this month, but the nwnth previous. Or if you should write down the balance of your Cash account, and close it from time to time, be fore the aggregate of said received and paid out sums, be carried to the Leger account of Cash, be careful not to include at any time these balances. You see that I have not balanced the Cash account in this illu^ation, until the end of 'he week. You may run over the Cash Book every night, if you please, to see if the balance, as appears from vour Cash Book, corresponds, oi C 147 1 PRACTICAL FORMS. nearly corresponds, with the amount of Cash on hand. But I would not recom- mend, in doing a small business, to make an actual closure of this account daily; as the sums paid out and received are not numerous, nor the amounts large ; con- sequently, it is not necessary, as in an extensive house, to make this closure or examination for the sake of detecting mistakes of important amounts of money. However, respecting this, consult your judgment and peculiar situation. Only be certain that you are right before you take off your monthly Trial Balance of the Leger, and post to your Leger account of Cash, the total amount of Cash received and paid out during the month, as appears from the Cash Book. Cincinnati^ January, 1837. 1837 Jan. Balance of Old Account • Mdse. Sales Expense Received of Richard Bates on account Mdse. Sales Paid Keys and Isham on account •' for Sundry Mdse. Mdse. Sales i Do. do. ^ J. C. Colt Received of Wm. T. Smith on account Do. Glezen and Shepard do. Do. Dr. James Bicknal do. Mdse. Sales •. Paid David B. Carroll for Mdse. •- Received of Robert Fulton on account Mdse. Sales ■ Paid my Note of Oct. 6, 1837, in favor of D, Cass Interest on the above Note, at 7 per cent Balance of Cash on hand Balance of Old Account- Drs. 350 106 21 165 92 182 60 11 23 211 19 181 1,425 714 Crs. 20 95 231 50 110 200 3 714 1,425 37 80 50 0(> 00 00 50 18 35 { 148 1 PRACTICAL FORMS. DAY BOOK. You see by an examination,that this book is confined to such entries as arise from the purchase of Merchandise; also, whatever miscellaneous entries may occur in transacting business. Here are two plans; the one on which the Day Book entries are made in Journal form, so as to avoid the trouble of keeping a Journal, and the other, the entries are made after the usual Day Book form, and are journalized on the op posite page. In business such as this set of books is intended for, the miscella- neous entries arc very few, and you will find eithetof the plans good in practice. If you should use the latter plan, it will most generally be best to keep the Jour nal in the same book and on the opposite page to the Day Book entries, as here illustrated. These books may be kept together with little or no waste of paper, as most of this class of entries that occur in a retail store, will seldom take up more than two or three lines in the original entry. There is another advantage in keeping, these books together; which is, that of having the Day Book entiy before you, when transferring from the Leger to the Journal. In addition to the above books described, there are two others that it may be advisable to keep, rather as memorandum books, than books of necessity or im portance. An Expense Book, for keeping in detail all the little sums paid out, and for what use. Moneys for this purpose may be taken directly from the receiving drawer. And on the last day of each month (when you will see that all operations have been correctly disposed of,) make an entry to the Credit of Cash, on your Cash Book, for the aggregate Expenses as appears from this book. And let the same amount be included in the Cash Book on the last day's sales of merchandise for tlie month. A Memorandum Book may be kept for Debiting to A. B. or C. (with whom you have no regular account, and to whom you do not expect or desire to give credit for any material amount,) to place such short credits for trifling sums, as will arise, in spite of every precaution, to the retailer; which sums, when paid, may go- into the Cash drawer as sales of goods on the day when the same is re ceived. I have not given a Leger to this or any of the following sets for keeping tooks, deeming it useless, as you are acquainted with the main body of the work. A hint to him who has studied the principles of the science, is much Detter than labored argument and unnecessary illustrations. [149*1 PRACTICAL FORMS. DAY BOOK. Cincinnati, January 2, 1837. 5 10 5 25 IS 52 16 25 26 42 Mdse. Dr. to James Brown For Goods, as per Invoice,- Mdse. Dr. to Bills Payable For my Note passed to Saml. F. Bates, for Goods, as per Invoice, 5 Daniel Buck Dr. to Horace Alden As per am't of his order,---- Amos Boyed Dr. to Bills Payable For his Draft at ten days sight, accepted,- Bills Receivable Dr. to Shayes & Shepard For their Note in full of acc't., 225 410 23 125 210 00 50 50 00 75 DAY BOOK, Cincinnati, January 2, 1837. Bot. of James Brown, Mdse. as per Invoice, am't to- Passed ray Note at 3 mo. to Samuel F. Bates for Mdse. as per Invoice, 5 Daniel Buck to Horace Alden, as per Order, 7 Accepted Amos Boyed's Draft on me at 10 days sight, for- Rec'd Shayes & Shepard's Note in full of acc't. - 225 410 23 125 210 994 00 50 50 OP 75 75 [150] PRACTICAL FORMS. •% JOURNAL. Cincinnati, January 2, 1837. 5 10 25 18 52 16 25 26 42 Merchandise Dr. to Sundries, James Brown, Bills Payable, Daniel Buck Dr. to Horace Alden,- Amos Boyed Dr. to Bills Payable,- Bills Receivable Dr. to Shayes & Shepard, .^225,00 •••410,50 'J if-' -fi- LlBl] 635 23 125 50 50 00 210 994 75 75 PQ^CTICAL FORMS. SET No. 2. By examining the following plan,you will see that the Day Book contains tliree columns for dollars and cents. The first column is intended for miscella- neous entries. (Mis's.) The second for all entries that arise from the purchase of merchandise; ( Drs. M. ) The third for the sales of merchandise; (Crs. JNI.) This again is an illustration to avoid using the Journal; which book, by the by, I think in most trading houses is entirely useless, and as you will discover from this illustration, should be omitted. The miscellaneous entries are made here in journal form, and are consequently, as easy of posting as the simple pur- chase and sales of merchandise. You,may if you choose,omit this column for miscellaneous entries, and adopt a separate book in its stead; say a book after one of the plans of a Day Book in the preceding set, and perhaps it would be advisable, if your business is of such nature as to cause many such entries as are here illustrated. You will foot up the columns for the purchase and sales of merchandise and Debit or Credit merchandise for the total amount of all goods bought and sold, at the end of each week or month. It is unnecessary to say that each of these accounts will be posted for its res- pective sum, directly to the Leger from this book. This plan will be found to answer well in stores where there are frequent purchases of merchandise made, as well as goods sold. While the preceding set will be found to answer best in practice, in that store where the merchant only purchases his goods periodically. To complete this set, take the Cash Book of the preceding set, which if intro duced here, would be the same as it is there illustrated. Also, the two Memo randum Books referred to at the end of said set, and that will render this set complete, and sufficient for any suitable business to which you may apply it. [ 152 ] PRACTICAL FORMS. DAY BOOK. Louisville^ January 2, 1837. 25 31 19 10 23 26 10 42 51 49 Sold Wm. Armsbury, 50 lbs. Tobacco, Co) 20 ^ Bo't of Aaron McCall, 2510 lbs. Pork, (a) 4({?- Sold Richard K. Cox, 48 gs. Molasses, © 40(j? 23 lbs. Green Rio Coffee, (a) 25(j?- Mdse. Dr. to Bills Payable, For my Note passed to Samuel P. Chas6 for goods, as per Invoice, 3 Sold James Ewin, 1980 lbs. N. 0. Sugar, rj) lie}?- Sold Abram Murry, 2 bis. 64 gs. M. Whiskey, (ad 36(j?- 200 lbs. Butter, (a) 19(j? ••• Bo't of Wm. Coughlin, 50 lbs. Flour, (a) $5.\2,- Mdse. Dr. to Bills Payable, For 2 hhds. 2550 lbs. Sugar, (a) 9(|} bo't of T. Henderson by Note at 3 mo 4 Sold John M. Blair, 2 bis. No. 1 Mackerel, © 5 « Apples, (0)^1.50, 10 " Salt, (a) ^3.50, Sold Frances M. Meire, 100 lbs. Rice, rS)4(^ 50 « Rio Coffee, © 22(j?-.. 130 « Loaf Sugar, (a) 20(|?- Sold Benj. ]\I. Pratt, 50 bis. Flour, © $5.50,- Am't carried forward, r 153] Mis 19 6 50 23 38 229 16 7 35 4 11 26 Drs. M 00 04 00 50 OOi 50 00 00 00 00 100 40 50 00 256 229 00 50 635 90 Crs. 10 M 00 25 46 217 61 80 04 5S 50 41 275 00 00 688 79 PRACTICAL FORMS. Louisville^ January 5, 1837. 35 37 Amount brought forward Sold James Justice, 6 boxes Raisins, (a) i?3,- 4 lbs. Pepper, (a) 20(|? 200 « Hams, © 14(}? 11 62 19 34 57 52 53 45 22 Sold Wm. Cones, 300 lbs. Butter, (a) 20({?"" 62 gs. Molasses, fa) 42(^- 10 lbs. Flour, © §5.50,- Bills Receivable Dr. to Mdse. For Daniel Home's Note at 3 mo., for goods, as per Invoice, 6 Sold Caleb Williams, 5 boxes Bloom Raisins, (a) 4 lbs. H. S. Tea, f5)75(j?••. Bo't of Wm. Barry, 500 lbs. Pork, (a) 4(]?- Bo't of James Murry, 200 lbs. Lard, © 9(j? 1,000 « Butter, fa) 14(}>- Sold David Thork, 10 bis Flour, fa)g5.50- Sold Saml. McCormick, 6 bis. No. 2. Mackerel, fa) $1.- Bo't of Wm. Amsbury, 20 bis. Salt, fS) §2.50, Sold James Ewin, 448 bis. Rio Coffee, f5)-15(j? Bo't of Oliver Smith, 2d, 160 lbs. Lard,© 9 (j? Posted 1 r 154 1 Mis 18 28 60 26 55 420 15 3 18 140 00 Drs 635 20 158 00 00 50 14 878 00 Crs. 688 40 30 46 141 420 18 M 79 80 04 00 00 55 42 67 00 00 20 1,478 83 PRACTICAL FORMS. SET No. 3. The following plan for keeping books, is intended for the most extensive branches of business. As illustrated, every transaction passes through the Jour- nal in going to the Leger. The Journal is intended as here used, for a book to collect the separate amounts of the different accounts that have been effected during the time taken. The object of this, is to put into one, what would otherwise require many posts to the Leger. You will see this more clearly, perhaps, by examining the Journal ising of the Cash Book. The manner I have conducted this Journal, excludes entirely all explanation of the business transactions, and nothing appears but the Leger titles and their amounts. I love Book-keeping, but hate unnecessary labor. And although many good accountants in extensive houses, are in the habit of giving a recapitulation of the business transactions under the Leger title upon the Journal; yet I must beg leave in most cases to differ from them in the utility of so doing. I have had frequent occasion to admire their industry in toil, and talents in execution. Book-keeping is intended both as a time and labor saving machine. And that which gives one accountant a proficiency over another, is economy in writing; and, therefore, as I would have all my practical forms simplified as much as the business will admit, when put into practice; I avoid many things in their illustration, that I might under certain circumstances adopt as the most expedient. This set is intended, as before, stated, for the most extensive branches of busi ness. I have not carried it to that extent, which, perhaps, you may be looking for in an illustration for a practical form for houses of this class. It might have been made to contain all mercantile transactions, both foreign and domestic, in exche quer and exchange. But if thus executed, it would have carried it beyond tho bounds of common industry and use, and thus, perhaps, thrown a dead weight upon the whole spirit of the volume, by increasing it to ten times its present size, which would cause many to shrink from examining that which, when well understood, would be clearly seen to apply to only about one establishment m a hundred; and thereby throw a doubt and distrust upon the perfection of those principles, so plainly illustrated and easy of application in most trading houses. In houses of very extensive operations, the great variety and multiplicity of business, frequently requires that several accountants should be employed, and for convenience sake, numerous books are used; but in their use and the num- C 165 ] PRACTICAL FORMS. Der of hands employed to execute the work, without regard to labor, there is an object aimed at beyond the convenience or inconvenience of the operator; which is, that of laying before the chief of such an establishment, in abbreviated language, the whole operations thereof. The Leger represents only balances and aggregate amounts. And the books of original entries contain too much of detail, for the time which the principal financier or director has to spend in obtaining at all times the leadmg operations, that may directly or indirectly affect movements, which to succeed, must no sooner be conceived, than executed. Consequently, in such houses the Journal becomes a book for transcribing and collecting operations for the benefit of the director, and not from any other necessity of, or advantage to the operator. The number of books used, and the peculiar application of them in extensive houses, is, from necessity and convenience, quite various, and will not admit, as in small establishments, a general illustration of such books as may only be used to advantage. And as I am addressing men of natural tact and clear judgment, I may conclude these remarks in about as a sweeping a clause, as the Elocutionist finished his remarks to his pupil, when he told him to " suit the action to the word, and the word to the action." I may say, suit the books to the business, and the business to the books. In houses where there is but one or two accountants employed, and the busi ness is large, and yet not of the most extensive kind, the following plan may be found to answer well; and in very many instances it may be much simplified when adopted. You see in the Day Book frequent entries of " Merchandise Sales," reference given to a Sales Book (S. B.) There are many houses where the business is well calculated to exclude entirely these entries from the Day Book ; as it will be found that with less trouble you may post directly from the Sales Book. By imderstanding the preceding illustrations, you will know when, where, and how, to add such other books to this set as to make it complete for your business. Always keeping in mind that although it may require a few hours reflection to adjust precisely a set of books best calculated for your operations, yet for all such time spent, you will find yourself richly paid, from the facilities you may derive from first making a judicious arrangement in the manner of keeping the record of your affairs. In some houses where the Journal is used,they have an extra coxumn on the Lfeger for giving the page of the book from which the original entry is taken; so as to save the trouble, in case you wish to inform yourself upon the original entry, of turning first to the Journal. [ 156] PRACTICAL FORMS. DAY BOOK. St. Louis, January 2, 1837. Sold Peter Campbell, Mdse. S. B.- Bo't of Burgess & Crane, Mdse. I. B.- Sold Kilgour and Taylor, Mdse. S. B. Sold Robert F. Levering, Mdse. S. B.- Rec'd James W. Ely's Note at 3 mo. in full of acc't. Passed to Aaron K. Kennett, my Note at 30 days for Mdse I. B. Bo't of Samuel Stone, Mdse. I. B. Sold James Clark, Mdse. S. B. Paid in Mdse. my Note of October 2d. to Henry Lee,----jSl,000.00 Interest, 17.50 Rec'd Edward Atwater's acceptance, of Jan. 3d. at one month,- ••• Sold Dinsmore & Neville, Mdse. S. B. A.ccepted Edward Atwater's Bill on me at 10 days sight, favor of James Robinson, Sold James B. Colt, Mdse. S. B. Paid in Mdse. Geo. D. Selden's Order in favor of James York, Sold John Adams, Jr. Mdse. S. B.- Accepted Hart well, Lawrence & Co's Bill on me at five days sight, favor of Robert Buchanan, Sold Adams & Shaw, Mdse. S. B. Rec'd, per Steamer Henry Clay, from Kilgour, Taylor & Co. Mdse. L B. Rec'd Saml. W. Story's Note at 3 mo. for Mdse. S. B. Am't carried forward, r 167 1 500 00 750 00 825 50 120 00 2S1 78 475 00 110 50 671 25 1,017 50 2,200 00 325 25 1,000 00 210 15 100 00 359 50 1,000 00 1,700 00 2,3C0 00 450 50 14,396 >L3 PRACTICAL FORMS. St. Louis, January 5, 1837. 2 93 50 38 00 90 95 00 00 50 40 50 31 00 Sold John Taylor, Mdse. S. B. Sold John Burk, Mdse. S. B. Bo't uf Bates & Wales, Mdse. I. B. Rec'd Mdse. I. B. for David S. Holuck's Note of Oct. 5th, 1836. 1,000.00 Interest, 17.50 Am't brought forward, Sold Joseph Ghist, Mdse. S. B. Received per Steamer Sun, from Hauk ^' Barrett, Mdse. I. B. Accepted Burgess & Crane's Bill on me at 4 days sight, favor of Messrs. J. & N. Florer Sold Stephen Fales, Mdse. S. B. Sold Wm. Bayott, Mdse. S. B. Bo't of Charles M. Doolittle, Mdse. I. B. Sold Thomas Barrett, Mdse. S. B.- Accepted N. W. Thomas & Go's Bill at 3 days sight, favor of Edward Say. - 7 Drew on Samuel Colt for balance due on his acc't, sold said Bill, at 10 days on acc't, to James A. James, at one per cent. 1,500 Premium, 15 Sold Geo. Selves, Mdse. S. B. Passed to John Caldwell, my Note (a) 3 mo. for Mdse. I. B. Paid in Mdse, my Note of Oct. 7th, to Oliver Sanders, 500.00 Interest, 8.75 Rec'd Alex. Flash's acceptance of June 2d, (a) one mo.- r 158 ] 14,396 571 395 500 25 108 395 151 981 135 1,017 172 250 1,515 321 530 508 1,000 22,976 00 55 00 75 00 67 PRACTICAL FORMS. Dr. CASH St. Louis, January, 1837. Jan. Jan. Jan. Jan. Jan. Jan. Balance of Old Account Received of Timothy Alden on account • « Elijah Slack * do. « Mdsc. Sales Balance of Old Account •" Rec'd of Nath'l Holley in full of his Note- " 3 mo. Interest " of John L. Talbott in full of account- '• Mdse. Sales Balance of Old Account Rec'd of Matthew A. H. Niles on account " John Easterbrook " Oliver L. Leonard, in full of account Mdse. Sales Balance of Old Account- Mdse. Sales Balance of Old Account Rec'd of John P. Van Hagan, on his Note of Dec. 1S36 Mdse. Sales Received of Samuel W. Wheeler on account Balance of Old Account- r 160] 1,151 425 85 495 2,157 1,422 1,000 17 420 750 3,610 743 100 250 3~5 110 1.579 7S 230 1.014 953 500 4 [-5 250 2,199 1,105 92 50 00 50 92 52 00 50 00 00 02 52 00 00 50 50 52 52 50 02 52 00 50 00 02 03 rKACTICAL FORMS. BOOK. Sf. Louis, January 1837. Or. Jan. 2 fan. Jan. Jan. Jan. Paid Thomas Moylin 9n account • " Charles B. McKee in full of account " Expense " Freight on Mdse. from Cincinnati " do. do. per Homer, from Louisville " do. for Frederick Prescott, on Mdse. per Homer, from Louisville Balance of Cash on hand Paid Cyrus Davenport in full of account " my Acceptance of William Colles' Draft " my Note of July 2d, 1836, to Thomas J. Mathews " Interest • " John C. Colt • " Amos M. Bolton on account ' " Expense " Abram G. Smith, for Mdse. Balance of Cash on hand • Paid Andrew Hervie for Mdse. " my Acceptance of Richard Morecraft's Draft- " Expense " Augustus Wattles in full of account ••••• " Balance of Cash on hand Paid Lewis D, Howell, on account of Samuel Leslie " Expense •••, Balance of Cash on hand Paid Freight on Mdse. from New Orleans '< do.forGarahMarkland from Natches " John W. Hopkins in full of account " Interest allowed on the above Balance of Cash on hand C 161 ] 500 85 71 16 25 37 1,422 2,157 475 1,000 1,000 35 50 25 5 275 74 3,610 150 500 10 135 783 1,579 50 10 953 1,014 150 35 895 13 1,105 2,199 00 90 00 00 50 00 52 92 50 00 00 00 00 50 50 00 52 02 00 00 50 50 52 52 00 50 52 02 00 50 00 50 02 02 PRACTICAL FORMS. JOURNAL. January 7, 1837. Sundries Dr. to Merchandise. Peter Campbell Kilgour & Taylor Robert F. Levering James Clark Bills Payable Interest Dinsmore & Neville James B. Colt George D. Selden John Adams, Jr. Adams & Shaw Bills Receivable Joseph Ghest Stephen Fales Wm. Bayott John Taylor John Bm-k Thomas Barrett George Selves Bills Payable Interest Merchandise Dr. to Sundries. Burgess and Crane .••• Bills Payable Samuel Stone Kilgour, Taylor & Co. ••• Hauk & Barrett Charles M. Doolittle Bates & Wales Bills Receivable • ^Interest Bills Payable Bills Receivable Dr. to Sundries. James W. Ely , Edward Atwater Alex. Flash Amount carried forward 500 825 120 671 ,000 17 325 210 100 359 L,700 450 571 25 108 151 981 172 321 500 8 00 50 00 25 00 50 25 15 00 50 00 50 50 90 95 00 50 311 55 00 75 750 475 110 2,300 395 395 135 1,000 17 530 281 2 200 1.000 00 00 50 00 38 00 40 00 50 00 78 00 00 9,121 1] 6,108 78 3,481 18,711 78 67 f 162 T PRACTICAL FORMS. Amount brought Ibrward Sundries Dr. to Bills payable. Edward Atwater Hartvvell, Lawrence & Co. • Burgess and Crane N. W. Thomas & Co. James A. James Dr. to Sundries, Samuel Colt Premium January 7, 1837. ,1,000 1,000 500 250 1,500 15 18,711 67 00 00 00 00 00 00 2,750 1,515 00 00 22,976 67 Cash Dr. X-o Sundries. 2d, Timothy Alden « Elijah Slack " Mdse. Sales g495.50 do. • 750.00 do. 110.50 do. ^ 230.50 do. 495.50 do. • 310.00 3d, do. 4th, do. 5th, do. 6th, do: 7th, do. 3d, Bills Receivable gl,000 fjth, do, do. 500 3d, Interest " John L, Talbot in full 4th, Matthew A, H, Niles " John Easterbrook " Oliver L. Leonard in full 6th, Samuel W, Wheeler 7th, Albert Picket in full « David Dolph Sundries Dr. to Cash, 2d, Thomas Movlin " Charles B, McKee in full " Expense 3d, do. 4th, do. 5th, do. •1171.00 ••••5.50 •10.50 • ••10.50 Amount carried forward- ri53] 425 85 2,392 1,500 17 420 100 250 375 250 89 100 500 85 97 683 40 50 00 00 00 50 00 00 00 50 00 90 00 00 90 50 6,003 40 6,005 40 PRACTICAL FOKMS. Amount broiiffht forward- Sundries Dr. to Cash. 2d, Merchandise c Si 6.00 " do. 25.50 3d, do. 275.00 4th, do. 150.00 6th, do. ••••• 150.00 2d, Frederick Prescott " Cyrus Davenport, in full- 3d, Bills Payable « do. do. 4th, do. do. ••••• •^1,000 •-•1,000 500 3d, Interest §35.00 6th, do. 13.50 3d, a 4th, 5th, 6th, 7th, John C. Colt Amos M. Bolton Aug's Wattles, in full, Samuel Leslie Garah Markland John W. Hopkins, in full, John Ranklin Abiel Foster George A. Matthews, in full, Wm. Nixon [164] 683 40 616 37 475 2,500 48 50 25 135 50 35 895 275 55 175 75 50 00 50 00 50 00 50 50 00 50 00 00 00 50 00 6,005 40 6,132 90 PRACTICAL FORMS. FURTHER CONSIDERATIONS AND PLANS ON THK METHOD OF KEEPING BOOKS. The illustrations of the three preceding sets, of the manner of keeping booKS, is quite sufficient for most mercantile houses to be governed by, in order to form such books, or method of arranging their affairs, as will be found to combine use, beauty, and convenience in their commercial operations. But that the vol ume may not want variety, and the learner information, when he has studied its parts, I subjoin a few other plans, intended in most cases rather to amuse than impart valuable information; as most such schemes appear much more plausible in print, than they are found to be useful or convenient in practice. No. 1. DAY BOOK AND JOURNAL. PLAN OF UNITING THEM IN ONE BOOK. The following plan of making your Day-Book entries in Journal form, will lie found to save the trouble of keeping a Journal separate. In a similar busi- ness, it may be advisable for an expert accountant to adopt it. That you may plainly see all the advantages that may be derived by keeping your Day-Book in this manner, where the business seems well adapted to it, I have taken a part of the month of June from part 1st. of this work (as you will see by compari- son,) as -an illustration. C 165 1 PRACTICAL FORMS. New- Orleans^ June 1, 183'/. Molasses, No. 1, Dr. to Sundries. Merchants' Bank- -Check FdidWm. Gosling. For 100 hhds. 11,000 §s. Molasses, © 27(f §2,970.00 Cas/i---paid.Cartage,&c.- 28.50 James W. Carr Dr., at 3 months, to Molasses, No. 1. For 50 hhds., 5,500 gs., (a) 31 (t>. - . 6 Sundries Dr. to Sundries. Flour, Co. .^■•••4,000 bis. (5)^5 §20,000.00 To Merchants' Bank -Check ])n\d A. C. Power for the above. " CasA'-paid Cartage, &c. 22.50 Bills Receivable Dr. to Eliphas B. Hibhard For his Note at 30 Days, in consideration of his half of the above joint speculation. 1 am to have 2 per cent. com. for doing the business. 7 ■■ Merchatits' Bank Dr. to Loan Account For this sum — deposited ; returned by Brown & Edwards. 11 Merchants' Bank Dr. to Sundries. Molasses, No. l---For 50 hhds., 5,500 gs. © 30 (1? §1,650 Flour, Co. ^••-•For 2,000 bis. f5) §5.25 10,500 Sold to 0. H. P. Thomas for Cash — deposited. 12 Molasses, No, 1, Dr. to Profit ^ Loss. For gain on account 14 Merchants' Bank Dr. to Flour, Co. Ji. Sold Edwin Forrest, for Cash— deposited 2,000 bis. Q) §5.25 16 Flour, Co. Ji, Dr. to Sundries. The total sales amount to §21,000. Commission -■■3.1 one per cent, on the above §210.00 Charges posted--§20,022,50+§210=§22,232.50. Leaving a net gain of §767.50. Profit and Loss ■■■for my half gain §383.75 Eliphas B. Hibbard's --do. 383.75 §767.50 C 186 ] 2,998 1,705 20,022 10,000 3,000 12,150 356 10,500 977 50 00 50 00 00 00 50 00 50 PRACTICAL FORMS. New-Orleans, June 19, 1837. Eliphas B. Hibbard Dr. to Sundries. Bilk Receivable •■•¥ ox his Note of the 6th instant, delivered up ^10,000.00 Merchants' Bank ■Check paid balance due on his account • 383.75 21 Bills Payable Dr. to Merchants' Bank. Check, paid my Bond to the Custom-house, of March 20, for- Sundries Dr. to Merchants' Bank. Bills Payable- ■Check, paid my Note of Feb. 21, to Charles A. Miller, for ••••^5,000 Iiderest ■■■■• lOO 23 Sugar, Co. R. Dr. to Sundries. Joined Wm. May, on a joint purchase of 200 hhds. Sugar. He is to do the business without commission, and divide the gain or loss equally: viz. 200 hhds. Sugar, each 10 cwt.=2,000 cwt. © iSll §22.000 Paid him for my half as follows : — Wm. May-^To balance due on old account §110 Merchants' Bank- •Check in full io,890 10,383 500 5,100 11,000 75 00 00 GO No. 2. In establishments which unite, in connexion with heavy operations, a retailing store, they sometimes adopt the following plan of Journalising, in order to save their Leger from being filled up with small sums, which otherwise exhibits amounts of hundreds and thousands of dollars. Take what is called a "Collecting Sheet;" write upon it the first name Debited with Merchandise (as you will gather from your books of original entry) and put [ 1G7 ] PRACTICAL FORMS. the amount annexed under it ; so on to each individual successively. When a name occurs that you have already on your sheet, place the amount that may be annexed to it under the amount before taken. After adding up the sums taken ; you will (hen journalise from this sheet. In the same manner take the Debits of Mer- chandise; then let the miscellaneous entries follow. On the Journal give the num- ber of entries that it took to make the aggregate amount which is annexed to each account. No. 3. The following described plan of keepmg a Journal,will showyour daily, weekly, or monthly gains, or for any length of time you choose to extend it. Let your Journal be ruled on the inner and outer side of each page with double columns for dollars and cents. The left hand of which is always to be used as Debit columns, and the right hand as Credit. The outer column on each side is always to be used to put the separate amount of gains, expense and loss ; as, if you were to take up your note of S 1,000, together with the interest on said note, say S70, by paying cash; Cash for the whole amount, §1,070 would be disposed of on the inner column of the right hand side of the page ; and Bills Payable for Sl,000 on the inner column of the left hand side, and Interest on the outer column of the left hand side. If an individual was to take up his note, these entries would become reversed ; and the Interest being a gain instead of an expense, would fall on the outer column of the right hand side. This plan of keeping a journal, when adopted, will be found to answer best in a commission house, where you have nothing to do with a regular merchandise account ; as in a regular merchandising house, it might sometimes be difficult, or at least troublesome,to ascertain what you make on each sale ; but on the contra- f}-, in a business exclusively commission, as your main profits are tlie sums allowed on the sale of goods, which may be easily calculated on each amount of goods disposed of It will also be found to answer well in practice in a business of regu- lar speculations. When you desire to ascertain what amount you may have made in business, add up the two outer columns of the Debit and Credit sides, and by the amount that the Credit side exceeds that of the Debit, so much you have gained ; and vice versa. Proof. — Add up the inner columns, and the difference between their footmgs will always agree, if Journalised correctly, with the difference of the footings of the outer columns. Day-Book entries and Leger posts are made as usual. [ 168 ] PRACTICAL FORMS. Boston^ January 3, 1837. Drs. Drs. 1,000 70 00 1,500 500 8,000 1,120 575 1,000 1,350 8,750 271 48 91 1,000 792 1,200 2,500 192 00 310 91 1 29560 13 Bills Payable- Interest, &c. ■• Mors;an Neville- 10 W. & R. P. Resor- 25 Sugar, No. 5- Daniel Drake- Truman & Snriith • — 28 Edwd^rd Woodruff. Feb. 2. Layet & Ameluug- U. S. Bank- Sugar, No. 5- Expense David Griffin- — 10 - Ship Henry Clay- 12 Dr. John Hudson Bills Payable Charares Total Debits, $29,560.1.3 Total Credits, 29,388.41 Excess of Debits, 171.72 W Cash U. S. Bank- Interest, &c. Bills Payable- Interest, &c. •- U. S. Bank- Ship't to Charleston Commission U. P. James' Sales Commission Cash Interest, &c. Merchandise, Co. E Commission Sugar, No. 6- Profit & Loss- Cash Bills Payable - Hawk & Barrett- - Adams & Shaw-- J. & J. Slevin Cha'sD. Bradford - Commission U. S. Bank- Total Gain, $482.63 Total Expense, 310.91 Net Gain, 171.72 169] Crs. 1,070 1,465 482 8,000 1,095 560 970 1,300 8,750 48 1,000 150 300 225 SO 3,S92 Crs. 29,388 00 50 00 00 00 00 00 I 00 00 91 00 00 00 00 00 00 50 00 25 15 50 00 ^0 50 271 50 38 37 75 41 482 QZ PRACTICAL FORMS. No. 4. The following plan of keeping a Journal will be found to save numerous posts to the Leger account of Merchandise and Cash. Let your Journal be ruled with three columns for Dollars and cents on both the m'ner and outer margin of each page. The right hand columns are always to be used for Credits,and the left hand columns for Debits. One of these columns on each side must be appropriated to Merchandise ; and one on each side to Cash ; and the other two remaining columns to Sundry accounts. All the debits of Mer- chandise must be put into the debit column appropriated to its use ; and the credits of Merchandise likewise to the credit column. In the same manner you will dis- pose of Cash. The remaining accounts affected, will be for their respective sums, carried mto tue column for the debit and credit of Sundries. At the close of every day, week, or month, you will add up these columns and post to the Debit of Mer- chandise account the total amount of goods purchased for the time taken, and like- wise to the Credit side the total amount of goods sold ; and in the same manner you will dispose of Cash for the money received and paid out. The other ac- coimts affected, and which are disposed of in the column for Sundries, will have a regular post for their respective sums. It is unnecessary to say, that the amounts of the Debit and Credit columns being collected, will in their aggregate be one equal with the other, if correctly journal- ised. In this method of Journalising, you never depart from the great principle on which the science is formed, that is," every Debit in amount must have a Credit," and " vice versa." Consequently, any sum you may carry into any one or more of the debit columns, must, in an aggi-egate amount or amounts, be formed in some one or more of the credit columns, and vice versa r no-] 1 Drs. PRACTICAL FORMS. New- York ^ January 1, 1837. Crs. Sundries. 50 1 .500 500 975 1,700 28 325 2,000 1,500 2,140 56 550 1,325 05 Mdse, 770 310 635 00 00 Cash. 275 1,715 00 00 275 1,715 11,325 18,315 00, Cash Dr. to Merchandise- 5 Daniel Ames Dr. to Merchandise- Mdsc. Dr. to J. N. McDowell 6 Bills Receivable Dr. to Sundries. Merchandise Isaac Reynolds 9 U. S. Bank Dr. to Cash- Paxton & Keys Dr. to Mdse. 12 Shipm't to Vicksburg Dr. to Sundr'i Merchandise Cash Henry Crane 18 Dr. Erastus E. Marcy Dr. to Mdse. Merchandise Dr. to Wm. Meguier- 25 Nathan G. Burgess Dr. to Mdse.- Bills Payable Dr. to U. S. Bank ■ 26 Bills Rec'able Dr. to Dudley Selden 28 Bills Payable Dr. to Sundries. U. S. Bank Interest, &c. 30 Expense Dr. to Cash ■ James A. James Dr. to Mdse. Mdse, Dr. to Jonah Martin- Totals Cash Merchandise • Sundries Proof Cash. 500 300 56 856 4,304 8,155 13,316 00 00 00 Mdse. 275 00 50,55 Sundries. 950 975 00 00 1,150'00 28 50 325 00 550 4,304 00 05 770 550 00 00 250 310 2,000 1,500 2,000 140 635 8,155 00 00 00 00 [171 1 PRACTICAL FORMS. No. 5. The plan of appropriating columns upon the Journal for the principal accounts which your business calls into the most common use, may be carried to any extent you please. You might add to the plans given in nos. 3 & 4, columns for Bills Payable, Bills Receivable, Interest, &c. Expense, etc. etc. All of which may be so diversified as to have a very pretty appearance in an illustration, so is to give a favorable impression to the casual observer. DIFFERENT PLANS FOR KEEPING THE LEGER There are different plans for keeping a Leger from that laid down in part first of this work. Old fashioned accountants even now make use of the words To and By; always Debiting an account to another account or sundries , and Crediting by an account or sundries. Others omit writing the account which forms the bal- ance for each sum throughout their Leger, retaining nothing but the dates and amoimts. This plan gives the Leger a very clean and beautiful appearance, ancT may answer well with extensive dealers and commission merchants. Some omii these balances in their Representative accounts, and retain them in their Personal accounts, etc. — Others keep nothing but a Leger, and enter each article sold directly upon it. I have found this latter plan answer well at a manufacturing establishment, to confine those accounts of the hands who were daily purchasing frivolous amounts. By this plan we always had on hand a bill in detail of all articles they had purchased. You will find it to answer well under similar circumstances Once a month the to-tal amounts of this Petit Leger were Journalised and carried to the " Great Book." I give the following as examples ; and will now leave your mind for its own action — give it scope. [172] PRACTICAL FORMS. Dr. Robert Oliver, Cr. Jan. 1 tt 5 ■u 20 a 26 Feb. 7 (( 19 " 26 <( 28 Mar. 1 « " Mar. 6 To Merchandise do. " Charles Smith - ■ " Merchandise --■ " do. " Merchants' Bank " Bills Payable -— " Merchandise --■ do. do. To Balance — 8 20 29 61 85 91 101 110 115 116 122 300 CO 50 00 10 00 211 50 11 200 150 50 65 75 1,123 473 00 1837 Jan. Feb. Mar. By Cash do. do. -— - -- do. Martin H. Crane William E. Montague Balance 00 JDr. Willaim Watson. Cr. 1837 1 — |1837 — Jan. 1 y ll' 500 00 jJan. 21 ^ 50 850 00 ii 5 y/ 21 50 UU Feb. 15 y^ 92 250 50 « 20 X 22 75 50 " 25 ^^ " 150 00 « 28 / 45 92 00 Mar. 9 y^ 95 500 00 Feb. 8 / 81 10 00 " 2fi ^y"^ 100 750 00 " 22 / 86 250 00 Apr. 1 y^ 115 600 00 « 28 / 92 35 50 — — — y Mar. 10 12 / 97 99 10 50 50 00 X « 28 x 105 100 00 y^ « 30 / 110 150 00 /^ Apr. 1 To Balance 1,777 00 = - _/ 3,100 50 3,100 .50 By Balance 1,777 00 Dr. John Hickman, Cr. 1837 Jan. 1 " 2 « 5 » 8 <( 10 « 15 i< 17 « 20 < 1 = 200 A credit of one day. > as per agreement. " 200 X 2 = 400 A credit of two days. ) 600 - - - )600(1 day. Ans. [ 183 ] COMMERCIAL CALCULATIONS. One day is the equated time of payment for the whole sum. It is evident then that A pays 3200 one day later Uian first agreed ; 8200 on the day of agreement, and 8200 one day earlier than first agreed. COMPOUND EQUATION. By compound emiation we ascertain the time on which the balance of an account, that contains debits and credits, becomes due; iiaving first learned by simple equation when the debit and credit of said accoun* falls due, as per average without regard to their relation to each other. Rule. — 1st. Multiply the number of days between the dates of eqxjated time, into the smallest amount. Then divide the product thus obtained, by the difference between the debit and credit {balance) of the account, and the quotient will be the time required fo->- calculation. 2d. If the earliest date is affixed to the largest amount, the time is counted BACK from the earliest date ; but if the latest date be affixed to the largest amount, the time is counted forward from the last date ; which is the day the balance of the account becomes due. Dr. O. P. Q. Cr. Due July Isl. $500 $600 Due August 1st. Note.— The time of equated payment here stated you find, as exemplified in the preceeding formulas ir ample equations. From July 1st to August 1st is 31 days. Amt. ofCr. 600 Bal. Days. Smallest amount 500 100 31 500 500 Balance 100 1.00)155.00 155 155 days added to August 1st gives the equated time of paying the balance of account ($100) on the 3d day of January next ensuing. The following is the same equation reversed in its amounts, by aflSxing the largest sum to the earliest date and the smallest sum to the latest date. Dr. 0. P. Q. Cr. Due July 1st $600 500 Due August 1st. From July 1st to August 1st is 31 days. Amt. of Dr. 600 Bal. Days. Smallest amount Cr. 500 100 31 500 500 Balance 100 1.00)155.00 155 155 days counted back from July Ist, gives the equated time, January 26. The preceding equation of Payments are correct enough for common use. They are an exemplification of those rules of daily practiceamong the best Accountants. Nevertheless, if you would be very nice upon this point it requires some more figuring and care on making up the exact result. For instance, if I owe a man 81000, and S500 of which is to be paid down, and the other S500 in two years : the equated time of paying both sums would be one year. It is evident, by deferring the payment of the first $500 for one year, I ough"t to allow interest on the same ; which, at 6 per cent., would, with the principle, amount to 8530. For the Other $500, wliich I pay one year before it is due, I ought not to pay as much by the difference between $500 and that sum at interest, which will produce $500 at the end of one year; which is $471.69ii*. Not regarding fractions, $530 _f-$471.70 = $1,001.70, the more exact sum which ought to be paid. But by equation of pay- ment I would only pay $1,000. Thus you see, if you would be more nice in these calculations, yon must ascertain the interest on all sums from the time they became due until the time of payment ; and the present ■worth of all suras paid before they are due. r 184 1 COMMERCIAL CALCULATIONS. MEASUREMENTS. Example I. To measure loads of wood. Rule. — Multiply the height by the length, and the product by the depth, thu gives the solid feet ; of which 1 28 make a cord, aud 64 half a cord. Note, — Wood is now most generally cut but two feet long ; of which a pile 8 feet long and 4 feet high ia sold as a cord, although it measures but half a cord. Required the content of a load of wood measuring 8 feet long, 5 feet high and 4 feet wide ? 8x5X4 = lG0-f-128=l^. Ans. One cord and a quarter of four feet wood, or two cords and a half of two feet wood ; as commonly sold. Example II. To find the contents of a board, &c. Rule. — Multiply the length of the board, in feet, by its breadth in inches^ divide the product by 12, and the quotient is the contents in square feet. Required the contents of a board 19 feet long, and 18 inches wide ? 19X18=342-^12=28^ feet. Ans. Note.— In measuring plank, joist, and the like, they are reduced to what is called board measure, that isi one inch stuff, by multiplying the thickness into the breadth, and then proceed as in the above rule. Required the contents of a plank 2^ inches thick, 12 inches wide, and 18 feet long, board measure 1 12X2^X18=540^12=45 feet. Ans. Note.— To find the area of a square multiply the length by the breadth. How many square feet are contained in the plaster or wall of a room which measures 20 feet by 35 feet ? 35X20=700 feet. Ans. Example III. To measure square timber or other solids. Rule. — Multiply the breadth by the depth, or thickness, and that product by the length, and you have the solid content. Required the content of a piece of timber 18 feet long, 2 feet thick, and 3 feet broad? 2x3x18=108. Ans. Note. — In measuring timber, if you take the depth and breadth in inches and the length in feet ; you must divide by 144. Required the number of solid feet or yards in a cellar, to be dug, that shall measure 26 feet wide, 40 feet long, and 11 feet deep? 26X11X40=11440 feet-r 27= 423^ yds. Ans. Example IV. To measure round timber. Rule — Multiply the length of the stick, taken in feet, by the square of \ the circumference, taken vn ''inches ; divide this product by 144, and the quotient is the measurement in cubic feet. Required the contents of a log 60 feet long, that girts 160 inches ? ]60-r4=40x40=1600X60=96000-M44=666f feet. Ans. Note.— In measuring round timber the girt should be taken about ^ the length of the stick from thj larger end. Y r 185 ] COMMERCIAL CALCULATIONS. Example V. Tonnage of vessels. Government Rule. — "If the vessel he double-decked, take the length there- of Jrom the fore part of the main stem to the after part of the stern-post above the ipper deck; the breadth thereof at the broadest part above the main wales, half of tuhich breadth shall he accounted the depth of such vessel, and then deduct from the length f of the breadth ; multiply the remainder by the breadth, and the pro- duct by the depth, and divide this last product by 95, the quotient whereof shall he deemed the true contents or tonnage of such ship or vessel ; and if such ship or vessel be single-decked, take the length and breadth, as above directed, deduct from the said length f of the breadth, and take the depth from the under side of the deck-plank to the ceiling in the hold, and then multiply and divide as afore- said, and the quotient shall be deemed the tonnage." 1st. Required the tonnage of a single-decked vessel, whose length is 80 feet, breadth 30, and depth in the hold 10 feet ? I of 30 is=18 80-18=62X30X10x18600^95=195^1 tons. Ans. 2d. Required the tonnage of a double decked-vessel, whose length is 160, and breadth 40 feet ? Depth, ^ of 40=20 160-24=136x40X20=108800-r-95=1145iV Ans. I of 40=24. CUSTOM HOUSE DUTIES AND ALLOWANCES On most articles of commerce imported into the United States there is a per cent, duty affixed by act of Congress, for the purpose of raising a revenue to meet the exigencies of the government. But as these stipulated duties are subject to the caprice of every wily politician, we will not introduce them here, however desir- able to many, as the information therein contained could not be relied upon for correctness of statement for any great length of time. The allowances for Tare and Tret not being subject to the same caprices as the Duties, may be stated, and can be relied upon as generally correct. TARE. This is an allowance made by the Custom-House for the actual or supposed weight of the box, case, cask or bag in which the article of merchandise is enveloped. The wholesale merchant on disposing of his goods usually allows the same per cent. When the law has not established the per cent, to be allowed, as in the fol lowing table, on an article, the officers of customs usually deduct what they deem to be correct, in justice to the importer. The rate per cent, to be deducted varies according to the peculiar material or style of envelope. Per cent. .... - 15 - 1 to 10 - 2 to 12 2 to 6 10 - 10 to 20 . 13 to 18 12 . 5 to 10 f 186 V Per cent. Almonds, ... 3 Cloves, Alum, ... 12 Cocoa, Bristles, - - . . - 12 to 14 Coffee, Beef, jerked, 112 lbs. per hhd. Cotton, " " 70 per drum. Chocolate, Cordage, - - - . 1| Cheese, Camphor, - - . - Candles, - - 30 to 36 Corks, - 8 to 20 Currants, Cinnamoi^ ... - 8 to 12 Candy, COMMERCIAL CALCULATIONS. Copperas, - Frails, Figs, Glue, Indigo, Looking-glasseB, Mace, Nutmegs, - Narls, Ochre, Pepper, Pimento, - Per cent. Per cent. 12 Raisins, - 5 to 12 5 Sugar, - - . 5 to 30 10 to 16 Soap, ... - 10 to 12 5 to 8 Salts, . - - - 6 to 10 5 to 20 Shot, 3 25 to 30 Steel, 2 lbs. per bundle. 33 " 60 lbs. per case. 12 Tea from 14 to 22 lbs. per chest. 8 Tallow, .... 10 to 12 12 Twine, - - 12 2 to 12 Wool, .... 3 to 5 3 to 15 TRET OR DRAFT. This is an allowance on the gross weight for waste, and is deducted before an allowance is made for Tare. lbs 4 7 9 MEASURES. The measures, long, dry, and liquid, used in the United Stales and Texas, are the same or nearly the same of those used in Great Britain and her Provinces ; and differ from all other nations. • lbs. On 1 cwt. 1 From 3 to 10 cwt From 1 to 2 cwt. 2 " 10 to 18 " " 2 to 3 " 3 Over 18 TABLE OF COINS. Showing their relative value in the LTnited States, according to the laws of May and June, 1834. UNITED STATES. Eagle coined before July 31, 1834, Shares in proportion. Eagles coined since July 31, 1834, FOREIGN GOLD. AUSTRIAN DOMINIONS Souverein, Double Ducat, Hungarian Ducat, BAVARIA. Carolin, Max d'or, or Maximilian, Ducat, BERNE. Ducat, Pistole, BRAZIL. Dobraon, Dobra, Johannes, -^ in proportion, Moidore. '• " Crusade, BRUNSWICK. Pistole, double in proportion. Ducat, D. C. M. 10. 66, 5 10. 3. 37, 7 4. 58, 9 2. 29, 6 4. 95, 7 .3. 31, 8 2. 27, 5 1. 98, 6 5. 54, 2 32. 70, 6 17. 30, 1 17. 06, 4 6. sr,, 7 63, 5 4. 54, 8 2. 23 Ducat, Doubloons, Ducat, current, Ducat, specie, Christian, d'or, CLOGNE. COLUMBA. DENMARK EAST INDIES. D. C. M 2. 26, 7 16. 63, 6 1. 81, 2 2. 26, 7 4. 02, 1 r is^ ] Rupee, Bombay, 1818, 7. 09, 6 Rupee, Madras, 1818, 7. 11 Pogoda, star, 1. 79, 8 ENGLAND. Guinea, ^ in proportion, 5. 07, 5 Sovereign, 4. 84, 6 Seven shilling piece, 1. 69, 8 FRANCE. Double Louis coined before 1786, 9. 69, 7 Louis, " " " 4. 84, 6 Double Louis, coined since 1786, 5. 16, 3 Louis, " " " 4. B7, 6 Double Napoleon, or 40 francs, 7. 70, 2 Napoleon, or 20 " 3. 85, 1 FRANKFORT ON THE MAINE. Ducat, 2. 27, 9 COMMERCIAL CALCULATIONS. D. C. M. D. a M GENEVA. Old Crusado of 1400 rees. 58, 5 Pistole, Old, 3. 98, 5 New Crusado of 1480 rees, 63, 5 Pistole, new, 3. 44, 4 Milrea, coined in 1775, 78, GENOA. RUSSIA. Sequin, 2. 30, 2 Ducat, 1748, 2. 27, 9 HAMBURG. " 1787, 2. 26, 7 Ducat, double in proportion, 2. 27. 9 Frederick, double, 1769, 7. 95, 5 HANOVER, " " 1800, 7. 95, 1 Double Greo. d'or, single in pro. 7. 87, 9 " single, 1778, 3. 99, 7 Ducat, 2. 29, 6 " " 1800, 3. 97, 5 Gold florin, double in pro. 1. 67 Imperial, 1801, 7. 82, 9 HOLLAND. ROME. Double Ryder, 12. 20, 5 Sequin, coined since 1760, 2. 25, 1 Ryder, 6. 04, 3 Scudo of republic. 15. 81, I Ducat, 2. 27, 5 SARDINIA. Ten Guilder-piece, 4. 03, 4 Carlino, '" 9. 47, 2 MALTA. SAXONY. Double Louis, 9. 27, 8 Ducat, 1784, 2. 26, 7 Louis, 4. 85, 2 " 1797, 2. 27, 9 Demi Louis, 2. 33, 6 Augustus, 1754, 3. 92, 5 MEXICO. 1784, 3. 97, 4 Doubloons, 15. 53, 5 SICILY. MILAN. Ounce, 1751, 2. 50, 4 Seguin, 2. 29 Double Ounce, 1758, 5. 04, 4 Doppia, or Pistole, 3. 80, 7 SPAIN. Forty Livre Piece, 1808, 7. 74, 2 Doubloons, 1772, parts in pro. 16. 02, 8 NAPLES. Doubloon, 15. 53, 5 Six Ducat piece, 1783, 5. 24, 9 Pistole, 3. 88, 4 Two " " or Sequin, 1762, 1. 59, 1 Cornilla, 1801, 98, 3 Three " " or Oncetta, 1818, 2. 49 SWEDEN. NETHERLANDS. Ducat, 2. 23, 5 Gold-Lion, or 14 Florence piece, 5. 04, 6 SWITZERLAND. Ten Florence piece, 1820, PARMA. Quadruple pistole, double in pro. 4. 01, 9 Pistole of the Helvetic Republic, 1800, 4. 56 16. 62, 8 TREVES. Pistole or dappia, 1787, 4. 19, 4 Ducat, 2. 26, T 1796, 4. 13, 5 TURKEY. Maria Theresa, 1818, 3. 86, 1 Sequin, 1773, 1. 86, 8 PIEDMONT. " 1789, 1. 84, 8 Pistole, coined since 1785, 5. 41, 1 Half Missier, 1818, 52, 1 Sequin, ^ in proportion, 2. 28 Sequin Fonducli, 1. 83 Carolino, coined since 1785, 27. 34 TUSCANY. Marengo, a piece of 20 francs, 3. 86, 4 Sequin or Zechivo, 2. 31, 8 POLAND. Respone of Etruria, 6. 93, 8 Ducat, 2. 27, 5 VENICE. PORTUGAL. Sequin or Zechino, 2. 31 Dabraon, 32. 70, 6 WIRTEMBURG. Dabra, 17. 30, 1 Carolin, 4. 89, 8 Johannes, 17. 06, 4 Ducat, 2. 23, 5 Moidore, 6. 55, 7 ZURICH. Piece of 1600 rees, 2. 12, 1 Double Ducat, shares in pro. 2. 26, 7 [ 188 1 ». ■!. ... UNIVERSITY OF CALIFORNIA LIBRARY BERKELEY Return to desk from which borrowed This book is DUE on the last date stamped below. APR 2 197! 38 ,NT£RUBRftRV LOAN ^ir 6t952(ffl 1 MAn 8 1983 eM'5ns.Jumv.ofCAL.f..BERK.i OCT 29 19&T a:^/ iNTER-LIBKAFiY LOAN DEC 2 8 19 '0| LD 21-100»n-9;48(B3998l6)476 YD o=>:j4fe k o424.^S UNIVERSITY OF CALIFORNIA LIBRARY ^^i^^^^^