Balancing Debits and Credits in the Far East: China Mongolia Manchuria, Siberia Korea Japan, as Between Themselves and Their Creditors (Classic Reprint)

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Excerpt from Balancing Debits and Credits in the Far East: China Mongolia Manchuria, Siberia Korea Japan, as Between Themselves and Their Creditors

The creator accounts himself an expert, from force of experience, in the psychology surrounding debt ors and creditors and their relations with Financiers, called Bankers and Brokers by the humble and lowly. At least fifteen years of my life was spent in obtain ing loans and credit for utilities, albeit must be admitted that the greater part of the time was consumed with attempts. At one time or another I probably have visited the office of every Financier of consequence in America and England, and if necessary could describe their offices, particularly their outer offices, with great detail, down to the last calendar and desk pad.

My success or failure at all times turned on whether the project met, or failed to meet, the requirements of three or four fundamental rules, that the Financier at all times applied as his first principles, until I have come to imagine that the whole world of finance and credit is controlled by a few set rules that experience has found to be infallible.

So. From the constant ringing in my ears of these first principles for fifteen years, it is natural that l must apply those principles to the solution of ques tions in the Far East. In the end, in the final analysis, the situation is financial, and if these abnormal, funda mental rules, that have at all times unerringly controlled business and financial affairs, still hold true, the solu tion is inevitable and certain.

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