072 



BOOK-KEEPING. 



book- cording to the language of grammar) in the active 

 Keeping. f orm w j t h out ail y abbreviation, as I bought one hogs- 

 / ~~""' head of sugar for ready money : 



While the entries of the Journal and Leger are in 

 the passive form, accompanied with a considerable 

 corruption of a word derived from the Latin language, 

 and also an abbreviation. 



31. The word debtor is corrupted from debitur, 

 the passive form of the obsolete verb dcbio, to bind, 

 agreeing with the title (Lennep, Latin Etymology v. 

 debio) and in like manner creditor is corrupted from 

 the compounded passive verb creditur: this is formed 

 from do. to give and the participle cretum sepa- 

 rated, as meal by a sieve, (Kuster, v. Cerno) this 

 analysis is plainly proved by the English phrase con- 

 nected with these Latin words ; thus, 



The thing received is bound to, or connected with 

 the thing given for it in barter. One kind of wares 

 is connected with another, or with the person who 

 sold it in trust. 



But the manner of the connection is to be supplied 

 by the mind. In this sentence, the figs came from 

 Turkey to London ; the word^rom- shews the be- 

 ginning of the journey, and the word to marks its 

 termination : the same word to must also be used to 

 mark every part of the progress of the journey : as 

 first to Malta, then to Gibraltar, to Falmouth, to 

 London : -in the same manner the word to in this 

 art marks every person with whom (whether owner, 

 factor, or partner factor,) and also every property 

 with which the buyer, borrower, or broker, may be 

 connected from the commencement to he end of the 

 mercantile transaction. 



The expression is then : These wares stand me in 

 ten pounds : that is, stand to me in the place of ten 

 pounds given for them ; the word cost being formed 

 from the Latin verb consto, to stand with. The 

 wares were connected with the ten pounds as a bar- 

 ter, before they were connected with me as the 

 owner, or on the behalf of the owner. This shews 

 the reason of the abbreviation of the Journal and 

 Leger forms. The thing given for another is sepa- 

 rated from its account, from the property and the 

 cause of the separation is expressed and accompanied 

 with the word by: to which, whenever it is used in 

 the passive form, the mind must connect, either agent, 

 instrument, or cause. 



This word by is no other than the word be in the 

 imperative mood ; and be cash the cause, is of the 

 same import, as by cash. See Diversions of Ptirley, 

 vol. i. p. 402. 



32. By this statement it will appear, that the words 

 Debtor and Creditor have but one uniform meaning 

 in the whole system, that is, 



Debitur k bound to or 

 connected with the thing 

 given for it, or the person 

 'fho gave it. 



Connected with an error. 



Connected with a new 

 accouiit or folio, whether 

 particular or general. 



Creditur is separated 

 from its account by the 

 thing received, or the per- 

 son released. 



Separated by an error. 



Separated by a new ac- 

 count or folio, whether 

 particular or general. 



33. The articles of real accounts, when connected 

 with each other, shew instantly a barter, or exchange 5 

 personal accounts, when connected with each other, 

 shew mutual claims and releases. Personal accounts, 

 when connected with real accounts, shew claims or 

 releases substituted for barter. 



34>. There are besides titles of accounts to record 

 the general state of property. 



1st, At the commencement of business, and also 

 the receiving or giving away ?ny property for any 

 cause not connected with a real or personal account, 

 service, or engagement. 



2d, In its progress by service or engagement. 



3d, The profit and loss arising from the purchase 

 and sale of commodities in the respective and parti- 

 cular account of each artick. 



Although all these may be entered in one general 

 account, titled Stock, merchants have commonly se- 

 parated them into six, which have titles in the Jour- 

 nal and Leger. 



35. There is as yet a seventh general account, 

 called Balance, which has hitherto been peculiar to 

 the Leger ; but can be formed with more ease and 

 certainty in the Day-books. 



36. The Journal Titks of Real Accounts which are 

 to be kept in the Leger. 



; Ready money & Bankers; $ Cash. IPro- 



Notes. I |P. 



In the Merchant's -jxjs- r Wares by name as I\ 

 session for his own ac- \ Claret, 

 count. 



JBought for exportation. 



Money. 5 

 Wares. 



Ware 



Paper 



Effects. 



Single J 

 Effects, j 



Consigned to another for 

 the Merchant's ac 

 count. 



Consigned by a Factor 

 to another for the 

 Merchant's account. 



In the possession of the 

 Merchant for the ac- 

 count of another. 



Under his direction for 

 himsglf and others. 



Under the direction of 

 another for a joint ac 

 count. 



Bills or promissory notes 

 payable to the Merch. 



The Merchant's accept, 

 or notes. 



Contracts for money lent 

 to fit out ships, and 

 payable on ' their safe 

 arrival. 



Bonds for money lent. 



The Merchant's bonds. 



Ships. 



Houses and lands. 



House fumiture. 



L Linen cloth. 

 fGencral account 

 of wares. 

 Voyage to 



Voyage from 

 to 



A. B. his account 

 of ware*. 



Claret in Co. with 



A. B. &c. 

 Adventure in Co. 



with CD. & Co. 



'Bills and notes. 



Bills or notes pay- 

 able. 



Bottomry. 



Bonds. 

 Bonds payable. 



!Ship (by name) 

 House and lands 

 in the county ofiP. 

 Moveables. 



E.P 



Fact* 

 rage. 



C. F. 



E.f. 



P. 



37. The Journal Titles of Personal Accounts 

 A. B. 



1st, A common person 

 al account. 



2d, An account of the A. B. my account 

 merchant's affairs done by 

 another. 



P. 

 P. E. 



Book- 

 Kcepiay 



