1911 business

So, for the business badge, I need to explain the basics of sales. And while I considered a lemonade stand, a particularly gross encounter with a drunk dude on the train the other night has reminded me, once again, that I really don't like a lot of strangers. (Also, I'm not clear that I won't get arrested for selling things on the street. So there's that.)

I did, however, manage to turn up a copy of the Farmer's Business Handbook (Isaac Phillips Roberts, 1911), which advises me that it will rectify the gaps in my financial knowledge, which, if I've learned it at school, is "about as workable on a farm as an ox-cart would be on a railway." Let's have at it. (Bear in mind, please, that I went with the more agriculturally-oriented financial book rather than something robber baron-y because of its relevance to the overall tone of the Handbook. As I've said before, the 1911 Handbook was by no means meant for a city boy -- it's meant for the kind of young man who has access to fields in which to grow corn, poultry to raise, and cows to milk.)

Regardless, in 1911, the farmer for whom the "Business Handbook" was meant was hardly making investments, and is warned heartily against credit. He is advised to keep a careful inventory and to value his good honestly ("it is bad to deceive one's neighbor, but infintely more harmful to deceive oneself"). He shouldn't rush to buy property, but ought to consider renting, just like his urban neighbors might, until he's raised some money and, ideally, property values have declined.

There's a simple guide to keeping a 2 column'd paper ledger, with one side for income and one for expenses, and with the option of adding a daybook to keep track of hours worked by field laborers (who, in the days before much in the way of labor laws, seem subjected to some pretty long days). We're encouraged to assign the bookkeeping tasks around the farm to a child as a training device. The only real issue here appears to be the demise of the barter system -- if we're going to be keeping track of things down to the half-cent, it's important to be clear on exactly how many eggs we're swapping for ears of corn, etc. The handbook acknowledges that this is difficult, and I'm sort of interested in the effect an adoption of more careful bookkeeping on this kind of trading around the farms. Sadly, I'm at something of a loss about where to go for more info.

Thinking of shifting priorities around the farm, there's also a lot of emphasis on eliminating sources of error when it comes to animals. Dairy pails are to all have the same weight, and we are advised to measure each cow's food each day. (The sample milk report ledge includes a truly spectacular list of cow names, including, in the M's alone, Mabel, Madge, May, Meda, and Monda, as well as Tilda, Vina, and Belva. I'm not sure who the lowest-producing cow is, but we are reminded harshly to discard her!)

My particular favorite point in the book, though, is a surprisingly forward-thinking bit, advising the farmer to be sure that his wife understands the family's finances. This is put forth not just because the farmer ought to keep his wife on a tight leash, but because, Mr. Roberts recommends, the family can now work together, sharing in both profits and losses. I'm pleased to see this, nine years prior to the 19th amendment. At the end of the book, we see a sample family meeting in which the daughter, Mary, agrees to hold off on buying a new dress for the summer, and Bud, the baby of the family, is contributing money from his berry patch.

Anyway. Ignoring my book report, here's the deal: in 1911, we're living cheaply. All family members contribute, and we keep strict records. Our main knowledge of when to buy or to sell is based, simply, on our own inventory -- what takes place off our farm or in another city is almost irrelevant. We keep our debts low and avoid taking out a mortgage unless we can put down most of the money. Not bad, overall.

(As a final note, the farmer's handbook is maxim-heavy, advising us that "a man always walks more erect when his heart beats against a roll of Uncle Sam's IOU's, be it ever so small, than when he finds only keys, a pocket knife, and unpaid bills when his hand goes down in his pocket." I kind of love this, because it reinforces my pathological cheapness. Thanks.)

Now, here's the deal. We know how to buy and sell in 1911. But today? Not so much. Fortunately, my dear friend Emily (one of half-a-dozen Emilys I was friends with in college, oddly) has a boyfriend in business school. We're gonna chat, and soon. Yay!