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Updated: June 10, 2025
To say that employers and employed are partners in an enterprise is only a delusive figure of speech. It is plainly based on no facts in the industrial system. Employers and employed make contracts on the best terms which they can agree upon, like buyers and sellers, renters and hirers, borrowers and lenders. Their relations are, therefore, controlled by the universal law of supply and demand.
Biddle laughed at Jackson's message of 1832 which denounced the Bank. He expected to receive from Congress in due time the charter which the President had denied. More than fifty members of that body, including Clay, Webster, George McDuffie, Calhoun's ally and the chairman of the House Committee on Ways and Means, and the famous Davy Crockett, were borrowers from the Bank on the easiest of terms.
Nor did he trouble his borrowers with abstract calculations of figures, or references to ready-reckoners; his simple rule of interest being all comprised in the one golden sentence, 'two-pence for every half-penny, which greatly simplified the accounts, and which, as a familiar precept, more easily acquired and retained in the memory than any known rule of arithmetic, cannot be too strongly recommended to the notice of capitalists, both large and small, and more especially of money-brokers and bill-discounters.
It was a place where cooking utensils were in demand, and title-deeds to brown-stone fronts were not. We were in possession of something which every one needed every day, and, therefore, were persons of consequence and consideration to those around us who were present or prospective borrowers.
When the time came, the men of Kolding induced the clock-keeper to alter the clock; and when the borrowers came to repay the loan, it was too late, and the meadow was adjudged to belong to the men of Kolding. There is a variation of this story, that the widow of Henning Limbek borrowed the money and pledged the meadow with the same result.
Sometimes borrowers want money because they have been spending more than they have been getting, and try to tide over a difficulty by paying one set of creditors with the help of another, instead of cutting down their spending. This path, if followed far enough, leads to bankruptcy for the borrower and loss to the lender.
The library in a summer playground serves a double purpose; it supplies books in a district not otherwise reached by the library and it acts as a lure to the use of the main library. If the books are attractive, the children will follow them to the main library and thus become permanent borrowers. So it is plain that the books we place in our summer playgrounds must be of the most popular type.
Taking care, to keep the amount of available funds up to the ten thousand dollar mark. To do this, it sometimes becomes necessary for the company to issue drafts on the bank of deposit for thirty, sixty and ninety days. These drafts are accepted by dealers, for purchases made in Chicago, Cincinnati, Philadelphia or New York, the same as cash. "As borrowers, our only dealings have been with you.
Let the rate be, even with the merchant himself, somewhat more easy than that he used formerly to pay; for by that means, all borrowers, shall have some ease by this reformation, be he merchant, or whosoever. Let it be no bank or common stock, but every man be master of his own money. Not that I altogether mislike banks, but they will hardly be brooked, in regard of certain suspicions.
The silly borrowers would supply all the needs of his endowed family, for the privilege of caring for the goods. The debt habit of mind is the disposition or tendency to look to things we have not as necessary to our success: To yearn for other opportunities and other means than those we have in our hands: To feel helpless without them and willing to incur debt to secure them.
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