Business Hints for Men and Women by A. R. Calhoun

A. R. Calhoun’s Business Hints for Men and Women is presented not merely as a textbook but as a condensed, indispensable manual of rules and laws that “every man, from the day laborer to the banker, should be familiar with”. Recognizing that many people fail due to ignorance of fundamental business practices, this volume systematically demystifies commercial operations, legal documentation, and personal finance. It serves as a comprehensive guide intended to be easily read and consulted for specialized information at any time.

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Who May Benefit from the Book

• Farmers and agricultural producers needing modern business methods.
• Wage earners (skilled and unskilled) requiring thrift and account keeping advice.
• Property owners dealing with deeds, mortgages, or wills.
• Merchants and manufacturers seeking banking and credit guidance.
• Anyone needing clear definitions of commercial law and business terms.

Top 3 Key Insights

1. True business skill relies on knowledge of governing laws and rules, ensuring honesty and preventing financial failure.
2. Prosperity in any enterprise, including farming, depends on method, economy, and industry that is intelligently applied.
3. Vital transactions—such as property ownership, debt security, and asset transfer—must always be secured and recorded using proper legal documentation (deeds, notes, mortgages).

4 More Lessons and Takeaways

1. Meticulous accounts must be kept by everyone, itemizing all receipts and expenditures, because memory is unreliable and verbal contracts are dangerous.
2. Maintain prompt payment of obligations, as credit is considered the “heart if not the soul of business”.
3. Husbands should bring their wives into “full partnership” regarding business and financial holdings to prevent ruin in the event of the manager’s death.
4. The safest method for transmitting money over distances is by using a bank draft, made payable to yourself and then endorsed over, ensuring a reliable receipt.

The Book in 1 Sentence

This volume condenses essential rules, laws, and practical methods necessary for every individual to navigate daily business and financial life successfully.

The Book Summary in 1 Minute

“Business Hints for Men and Women” is a concise guide covering essential business laws and rules for everyone, from farmers to bankers. It details necessary legal documents like deeds, mortgages, and wills, and provides instruction on banking, notes, and drafts. It stresses the importance of keeping meticulous, itemized accounts (Chapter VII) and understanding commercial practices like the postal service and express delivery. The book emphasizes that knowledge and careful documentation are crucial, advising readers on everything from calculating true profit to using bank drafts for secure payments. The overarching theme is that business success hinges on knowledge, method, and careful documentation.

The 1 Completely Unique Aspect

The book uniquely provides highly localized, turn-of-the-century U.S. financial and legal guidance, defining complex commercial instruments alongside meticulous household account-keeping instructions for both men and women.

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Chapter-wise Book Summary

CHAPTER I: COMMON SENSE FARMING

“Trained hands with trained brains are irresistible.”

This foundational chapter begins by defining the three elements essential to all wealth production: land, labor, and capital. Wealth itself is broadly defined as anything having an exchangeable value. Farming is identified as the world’s greatest and most essential industry, demanding skilled labor and sound business methods. The author emphasizes that while the American farmer works harder than most, failure often results not from a lack of labor, but from improperly applied industry and a disregard for economy. True economy is not stinginess, but the wisdom to invest in the best tools necessary to increase the quality and quantity of output.

• Chapter Key Points
  • Wealth originates from land, labor, and capital.
  • Farming requires skilled, scientific business methods.
  • Economy includes investing in necessary, modern tools.

CHAPTER II: DOCUMENTS YOU SHOULD UNDERSTAND

“The purchaser of real estate… should receive, from the person selling the property, a written instrument, or conveyance known as a deed.”

This chapter addresses the importance of legal documentation for property (realty and personal). It instructs the purchaser of real estate to receive a deed, ensuring the title is clear and free from claims like mortgages or liens. Buyers are strongly advised to seek an abstract of title from a Title Guarantee Company or a lawyer to verify the property’s history. The roles of the seller (Grantor) and buyer (Grantee) are defined, noting that the spouse of a married grantor must often sign to relinquish dower rights. The three types of deeds are explained: General warranty (the most secure), special warranty, and quit-claim deeds. Finally, the process of formal execution, including signing, acknowledgment before an official, and the crucial act of recording the deed with the county officer, is detailed.

• Chapter Key Points
  • A deed conveys ownership of permanent property.
  • Abstracts verify clear titles and detect liens.
  • Deeds must be acknowledged and recorded promptly to be valid.

CHAPTER III: FORMS OF DEEDS AND MORTGAGES

“A mortgage may be defined as a conveyance of property, personal or real, as security for the payment of a debt, or it may be given as a guarantee for the performance of some particular duty.”

The chapter explores methods of property conveyance beyond simple sale. It introduces the Deed in Escrow, where the document is held by a third party until specific conditions are met, and Trust Deeds, which convey property to a trustee, often used to secure debt payment instead of a mortgage. The two kinds of mortgages—real (on real estate) and chattel (on personal property)—are defined as security for debt. A mortgage form is the same as a deed but includes a Defeasance clause, stating the document is void when the obligation is met. Crucially, mortgages must be recorded, and the mortgagee should ensure buildings are insured. The mortgagor must meet every stipulated payment, as failure to meet even one can result in foreclosure. The chapter concludes by explaining assignments (selling a mortgage) and the concept of an “equity of redemption” held by a defaulting mortgagor.

• Chapter Key Points
  • Deeds in Escrow are held by a third party until conditions are met.
  • A mortgage, containing a Defeasance clause, is security for a note.
  • Mortgages are legal, honorable means of raising money.

CHAPTER IV: WILLS

“A will is a written and signed declaration of the disposition one wishes to have made of his property in the event of his death.”

The author asserts that every property owner should make a will immediately, dismissing the superstitious notion that it is a premonition of death. The maker (testator or testatrix) must be of sound mind and over twenty-one. Wills are either written or unwritten (“nun-cupative,” used only in sudden circumstances and typically disposing of personal property only). While the testator has freedom, a married man cannot deprive his wife of her legal “right of dower” in his real estate. Practical advice includes hiring a lawyer, ensuring at least two witnesses see the testator sign, and naming an executor to carry out the provisions. If no will exists, the court appoints an administrator whose duties include inventorying property, settling debts in a prescribed order (funeral expenses first), and finally dividing the residue among legal heirs.

• Chapter Key Points
  • All property owners should execute a will.
  • A man cannot disinherit his wife’s dower right via will.
  • An administrator settles the estate if no valid will exists.

CHAPTER V: LETTER WRITING

“The secret of good writing is clear thinking.”

This chapter focuses exclusively on business correspondence, emphasizing that a letter is a “testimonial of the character and ability of the writer”. A good business letter must be clear, simple, and express just what is needed. The author outlines the nine essential parts of a properly constructed letter, including the heading (address and date), salutation (greeting), purpose, and signature. Specific forms are provided for addressing various parties, including individuals with titles like “Dr.” or “Rev.”. The text advises that if writing in response to a letter, the writer should acknowledge the “favor” received. It also guides the reader on drafting letters of introduction, cautioning strongly against guaranteeing the debts of the introduced person.

• Chapter Key Points
  • Business letters should be plain and concise.
  • All letters must include nine essential parts.
  • Never financially guarantee a person in a letter of introduction.

CHAPTER VI: BILLS, RECEIPTS AND ACCOUNTS

“Be sure to get a receipt for all payments you make, and be equally sure to keep the receipt where you can find it.”

This chapter provides essential mechanics for commercial transactions. It defines bills and invoices (usually meaning the same thing—a bill of sale for goods or services). Illustrations are given for bills covering goods and labor. The chapter stresses that “Honesty is the best policy” and that prompt payment guarantees credit. Readers learn the proper method for calculating “two or more discounts” (e.g., 20% and 5% are calculated sequentially, not added). Multiple forms of receipts are illustrated, including receipts for partial payment, payment in full, and payments on notes. The text strongly advises the necessity of always obtaining a receipt for payments and keeping it securely. The standard forms for an order (for goods or cash) and a due bill are also included.

• Chapter Key Points
  • Prompt payment is vital to maintaining credit.
  • Trade discounts are applied sequentially, not cumulatively.
  • Always obtain and safeguard receipts for all money paid out.

CHAPTER VII: WHO SHOULD KEEP ACCOUNTS?

“Don’t trust to your memory. Don’t rely on the memory of another.”

Accurate book accounts are essential for success in all spheres, from great concerns to storekeepers, lawyers, workingmen, and housekeepers. The author strongly advocates recording all transactions, warning that verbal contracts “feed the lawyers”. Farmers are given detailed instructions on how to keep accounts for their fields and crops, listing specific items to be charged against the farm (labor, taxes, insurance) and items to be credited (rent, products sold). A simple, clear format for a home cash book is demonstrated, urging readers to never “lump” receipts or expenditures, but to itemize every cent. It is also necessary to keep funds not your own (e.g., society treasurer funds) separate and properly designated in the bank.

• Chapter Key Points
  • All financial dealings must be recorded in writing.
  • Accounts should track all income and itemized expenditures.
  • Funds held for others (societies, clubs) must be kept separate.

CHAPTER VIII: AS TO BANKS

“Money is the blood of trade and the banking system is its heart.”

Banks are crucial institutions that serve as safe depositories, offering facilities the ordinary person cannot provide. The chapter distinguishes National banks (Government chartered and incorporated) from State and private banks. National banks are closely regulated and must maintain security, notably depositing U.S. bonds to guarantee their issued bank notes. Banks lend money, usually requiring security (collateral) or a reliable endorser. Detailed practical advice covers how interest on deposits is calculated and when it begins accruing. The depositor is given a deposit book and a check book; the stub must be filled out first to ensure accuracy. A check acts as a receipt once endorsed and paid by the bank. The chapter strongly cautions against making a check payable to “bearer” or post-dating a check.

• Chapter Key Points
  • Banks provide security and are central to trade.
  • National banks issue notes guaranteed by Government-held bonds.
  • Always fill out the check stub before writing the check.

CHAPTER IX: SAVINGS BANKS

“The best time to make a deposit is when you have the money.”

Savings banks are distinct local institutions, chartered by states, with the purpose of encouraging thrift among people of small means. They receive sums starting from as low as five cents (though interest usually requires a higher minimum). If allowed to remain, the interest begins to earn interest for itself, growing “like a rolling snow ball”. To open an account, the depositor provides identifying information and receives a deposit book, which must be presented for all deposits and withdrawals. Savings banks set limits on deposits, typically $1,000 to $5,000, as they are not meant for capitalists. Their revenue is generated by investing funds, in accordance with state laws, in safe securities like mortgages and sound bonds.

• Chapter Key Points
  • Savings banks are chartered to encourage thrift.
  • Interest compounds if allowed to remain in the account.
  • Savings funds are safely invested under state supervision.

CHAPTER X: NOTES—DRAFTS

“By writing your name across the back of another man’s note you announce to all the holders of that note that you know the maker and that if he does not pay it you will.”

The promissory note is a widely used form of commercial paper, representing a debt (e.g., the difference in cash when purchasing real estate) which is secured by a mortgage. The chapter outlines the legal form of a time note. Time notes are traditionally allowed “three days grace” after the expiration date for payment. Endorsing a note is serious: the endorser becomes responsible for payment if the drawer defaults, provided the holder notifies the endorser within 24 hours of non-payment. Notes must be “negotiable” (payable to “bearer” or “order”) to be transferable. When a bank loans money, it often discounts the note by deducting the interest in advance. If a note is unpaid at maturity, it is formally protested before a notary public to establish the liability of the endorser.

• Chapter Key Points
  • A note is evidence of debt; a mortgage is security.
  • Endorsers are liable for payment if the maker is notified promptly.
  • A note must be protested to fix liability on the endorser.

CHAPTER XI: A DRAFT

“A draft is a written order from the first party to the second party to pay to the third party a certain sum of money at a certain time.”

A draft involves three parties: the drawer (sender of the order), the drawee (person ordered to pay), and the payee (person receiving payment). When a merchant draws a draft to collect a debt, the drawee must write the word “accepted” across the face upon presentation, binding him to pay within the specified time (or immediately, in the case of a “sight draft”). Refusing to meet a just draft is called “dishonoring” it and damages one’s credit. For safety in remitting money, the best plan is to buy a draft from one’s bank, make it payable to oneself, and then transfer it via endorsement to the creditor. This procedure ensures that the cancelled draft acts as a receipt, since the creditor must sign it to cash it.

• Chapter Key Points
  • A draft is a written commercial order for payment.
  • Failing to pay a just draft harms business credit.
  • Endorsing a draft made payable to oneself creates a payment receipt.

CHAPTER XII: JUST MONEY

“Money in its broadest meaning is a medium of exchange.”

Money is defined as the medium of exchange, contrasting it with wealth or capital. The U.S. government reserves the right to issue all money, operating under the gold standard and the decimal system. Metal coins (gold, silver, nickel, copper) are discussed; punched gold coins should be refused, as they lose face value. The three types of paper currency are clarified: 1) National bank notes (guaranteed by government-held collateral), 2) Treasury notes or “greenbacks” (legal tender for any debt), and 3) Treasury certificates (issued against gold and silver reserves for public convenience, saving loss from abrasion). The chapter notes the huge process of retiring and replacing worn-out currency at the Treasury Department.

• Chapter Key Points
  • Money is the medium; wealth is what has exchangeable value.
  • Greenbacks are legal tender for any amount of indebtedness.
  • Certificates save gold loss and are convenient to carry.

CHAPTER XIII: OUR POSTAL BUSINESS

“Rural Free Delivery was an idea as just as it was grand, and as welcome as it was necessary.”

This chapter addresses the postal department, focusing especially on the introduction and requirements of the Rural Free Delivery (R.F.D.) system, which ensures mail service to country dwellers. Mail matter is divided into four classes, each with different rates (First Class: letters; Second Class: periodicals; Third Class: printed matter; Fourth Class: merchandise). Important rules are listed, such as prohibitions against sending poisons or explosives. For valuable items, registering a letter requires an additional fee and results in receipts for both the sender and the receiver. Special delivery ensures immediate delivery upon arrival at the destination post office. Furthermore, the chapter details the process of safely sending limited sums of money via postal money orders (up to $100), which acts like a draft drawn by one postmaster on another.

• Chapter Key Points
  • R.F.D. requires good roads and dense rural population.
  • Mail is categorized into four classes based on content and weight.
  • Postal money orders offer a secure method to send cash.

CHAPTER XIV: TELEGRAMS—THE TELEPHONE

“The telephone, local and long distance, is fast superceding the telegraph as a medium for speedy business communications.”

The chapter covers communication methods requiring speed. Telegrams charge a fixed sum for a short (e.g., ten-word) message, which encourages concise writing. Senders must keep copies of important telegrams and cannot hold others responsible for their own mistakes. Money can be quickly and safely transmitted via telegraph money orders. The telephone is rapidly replacing the telegraph, extending communication to large cities and even farms. However, the book cautions that while business can be conducted over the phone, such verbal transactions will not stand in law if disputed, unlike written contracts.

• Chapter Key Points
  • Telegrams charge a flat rate for a limited word count.
  • Money can be wired safely through telegraph money orders.
  • Verbal telephone agreements are not legally binding.

CHAPTER XV: BUSINESS BY EXPRESS

“Express companies are responsible for all damages sustained by goods while in their charge.”

Express companies, defined as common carriers, handle the transportation of smaller packages and require clear addresses and secure packing, especially for perishable goods. The express company must provide a receipt upon taking charge of the goods, and must secure a receipt upon delivery. Crucially, the company is liable for any damages sustained while the goods are in its possession. Express companies also provide prompt and reliable collection services for accounts or notes. The process for sending goods C. O. D. (“cash on delivery”) requires the agent to collect the itemized bill before allowing the consignee to take the goods. Money can also be sent securely by express using special sealed envelopes and money orders.

• Chapter Key Points
  • Goods should be securely packed and clearly labeled.
  • Express companies are financially liable for damage in transit.
  • C.O.D. shipments require payment before the agent releases the package.

CHAPTER XVI: ABOUT RAILROADS

“The longer, heavier, and slower freight are in the hands of the railroads…”

This chapter addresses the methods for shipping heavy freight via railroad or steamboat. The shipper (consignor) and the receiver (consignee) rely on the bill of lading, a written contract describing the goods and time of shipment, which acts as a voucher for the consignee to claim the freight. Freight charges are usually paid by the consignee upon delivery via an “expense bill”. For shippers dealing with unknown consignees, goods can be sent C.O.D. by freight; this involves attaching a draft to the bill of lading, requiring the consignee to pay the draft to the bank before the bill of lading is endorsed over, allowing them to collect the goods.

• Chapter Key Points
  • Railroads primarily transport heavy, slower freight.
  • The bill of lading is the legal contract for shipped goods.
  • C.O.D. freight requires the consignee to pay the attached draft first.

CHAPTER XVII: TAXES

“Taxes are forced contributions levied on citizens to provide money for public expenses, such as law and order, schools, charities and public institutions.”

Taxes are defined as necessary contributions to fund public benefits, such as schools, hospitals, and infrastructure. Taxes are divided into direct (levied on realty and personal property by states) and indirect (Customs duties/tariffs and Internal Revenue/excise duties by the Government). Although merchants pay customs duty, the consumer ultimately pays the tax plus the merchant’s profit. Certain properties, including religious buildings, public schools, and cemeteries, are exempt from state taxation. The chapter discusses how bonds are issued when tax revenue is insufficient for government works. While real estate is easy to assess, personal property (including money in banks, stocks, and furniture) is more difficult to track. The conclusion emphasizes that taxes, when honestly collected and properly expended, provide immense public good.

• Chapter Key Points
  • Taxes are necessary contributions for public services.
  • Indirect taxes are passed on to the consumer.
  • Personal property assessment often faces resistance and concealment.

CHAPTER XVIII: CONTRACTS—LEASES—GUARANTEES

“A contract is an agreement between two or more persons to do or not to do a certain stated thing or things, for a consideration.”

A contract is defined, with the consideration being a “vital part”. Other requisites include legality and the competence of the parties involved (e.g., not a drunken or insane person). Certain agreements must be in writing to be legally enforced, notably contracts for the sale of real estate, agreements lasting over a year, or a contract to answer for the debt of another (a guaranty). The chapter stresses that written contracts are prudent because memory defects frequently cause honest disagreements over verbal terms. A lease is a form of contract between a landlord and tenant. A guaranty is an agreement to assume another’s liabilities if they fail, often required for a lease or note. Finally, a bill of sale is a written agreement transferring interest in personal property, while a bond is a formal obligation under seal.

• Chapter Key Points
  • Consideration is essential for a binding contract.
  • Verbal contracts are risky; written contracts protect friends.
  • A bond is a sealed obligation naming the liability.

CHAPTER XIX: LIFE INSURANCE

“The purpose of the insurer, if he take out the policy in his own name, is to provide in a measure for the care of his family, or other dependents, in the event of his death.”

Life insurance is a contract for future payment, calculated by actuaries based on mortality statistics and the expected returns on investments. Insurance is presented as a method to enforce savings, since few individuals can consistently invest as wisely as a company. The chapter covers the standard straight life policy and the endowment policy, which acts both as family security (if the insured dies early) and as personal savings (if they live to a fixed date). Mutual insurance societies are noted as offering insurance at closer to actual cost due to lower expenses. A policy, being a form of personal property, may be assigned as security for a loan. If payments fail and the policy lapses, the insured still has an equity or “surrender value”.

• Chapter Key Points
  • Actuaries calculate premiums based on life expectancy and investment returns.
  • Endowment policies provide both security and forced savings.
  • A lapsed policy still retains an equity or surrender value.

CHAPTER XX: INSURANCE—FIRE—ACCIDENT

“Fire insurance is a contract between the insured and the company taking the risk, in which for a consideration called a ‘premium,’ the company agrees to pay to the insured a stated sum, should the property, named in the policy, be destroyed by fire.”

The chapter contextualizes insurance risks as being founded on the law of chance, calculated with mathematical precision. Fire insurance compensates for damage up to the policy limit. Premiums are calculated based on the risk profile of the building (location, materials, and proximity to hazardous enterprises). A crucial rule: if a property is insured by multiple fire companies, the companies share the actual loss; the owner does not receive the full amount of every policy. Insurance can cover both realty and personal property (goods, machinery), with the latter usually commanding higher premiums. The chapter also briefly mentions accident insurance, highlighting the convenience of traveler’s policies.

• Chapter Key Points
  • Premiums are based on detailed surveys and risk calculation.
  • Multiple fire policies split the actual loss, not their face value.
  • Accident policies are available for property risks and travelers.

CHAPTER XXI: PARTNERSHIPS

“A partnership is an agreement between two or more persons to associate for the purpose of carrying on a certain form of business.”

A partnership agreement dictates that members contribute assets (money, machinery, labor), and profits are shared based on the cash value of these contributions. The partnership articles must be carefully drawn up and signed, specifying contributions, business nature, and the time the partnership will last. The text defines a “silent partner” (invests, no active part, liable for debts) and a “nominal partner” (lends name, no investment, still liable for debts). Critically, any active member of a firm can bind the entire firm in business matters, and each partner is individually liable for all business indebtedness, even against their private property if the firm fails. Dissolution occurs by limitation (time expiration) or by a court order, and public notice of dissolution is necessary.

• Chapter Key Points
  • Partnership articles must be written and carefully signed.
  • Any partner can bind the entire firm legally.
  • Partners are individually liable for the firm’s obligations.

CHAPTER XXII: INVESTMENTS

“The capitalist not only has money of his own to invest, but he may and very often does need more money properly to exploit the enterprises in which he is engaged.”

This chapter cautions against the poor judgment often shown by those newly acquiring wealth, noting that many lose fortunes by investing in ventures they know nothing about. The simple act of placing small savings in a bank is the start of sound investment. Capitalists typically invest by lending money, often secured by mortgages, to enterprises like building or manufacturing. Investing in stock (shares in a corporation) offers a chance at higher profits but carries greater risk. The difference between preferred stock (fixed, prioritized interest) and common stock (variable dividends based on remaining profits) is explained. The chapter strongly advises against buying and selling stocks through brokers, equating it to a “hazardous form of speculation” with all the elements of gambling.

• Chapter Key Points
  • Ignorant investment, often based on speculation, frequently fails.
  • Capitalists typically secure loans via bonds and mortgages.
  • Preferred stock has fixed interest; common stock has variable dividends.

CHAPTER XXIII: BONDS AS INVESTMENTS

“One of the safest forms of investments is bonds, though, as with other forms of security, the rate of interest declines as the margin of safety increases.”

For those unable to invest in their own business, bonds are considered one of the safest forms of investment. Bonds are certificates of indebtedness issued by corporations, bearing a fixed interest rate (typically 4-5%) and paid via detachable coupons. They are secured by a mortgage or deed of trust on the company’s property. Bonds are safer than stock because their interest is a fixed charge that must be met, whether or not dividends are declared. Railroad bonds are secured by a “first call upon the property rights of the corporation”. Buyers are advised to investigate both the seller and the nature of the security, noting that government and municipal bonds are generally the safest.

• Chapter Key Points
  • Bonds are safer than stocks due to secured, fixed interest.
  • Bonds are usually secured by a mortgage on corporate property.
  • Consult a bank president before investing in unfamiliar bonds.

CHAPTER XXIV: THINGS TO REMEMBER

“Be as open handed and generous as you will with your loved ones, but when it comes to business, let the work be done in a strictly business way or not at all.”

This chapter offers advice for maintaining financial health. It counsels against loaning one’s name by endorsing notes for needy friends, suggesting loaning money outright instead. To avoid deceiving oneself about profitability, a businessman must track all overhead costs, including interest loss, rent, bad accounts, and taxes, before claiming a profit. Annual inventory and “weeding out old stock” and worthless accounts is advised. Crucially, the author urges husbands not to keep their wives ignorant of financial affairs, as this risks ruin if the husband dies. Children should be taught the value of labor, the importance of keeping accounts, and how to practice self-denial with their earnings.

• Chapter Key Points
  • Do not endorse notes; calculate true profits carefully.
  • Conduct business with family using strictly written methods.
  • Children must be trained in financial self-control and account-keeping.

CHAPTER XXV: WORTH KNOWING

“Never pay out money without taking a receipt, and never receive money without giving one.”

The chapter reiterates essential safety rules. It advises against giving away major property in old age; instead, ownership should be retained while management is transferred via contract. On document security, wills should be kept in a bank safe or with a lawyer. All valuable papers must be kept securely and be self-explanatory. The text instructs readers to save all cancelled checks (which serve as receipts) and check stubs (containing important data). It reaffirms that the bank draft, endorsed over to the payee, is the most reliable way to send money, as the cancelled draft is returned as proof of payment. Misdirected letters and lost parcels are attributed chiefly to carelessness on the part of the sender.

• Chapter Key Points
  • Wills and vital papers require fireproof, secure storage.
  • Cancelled checks and stubs are essential legal receipts.
  • Misdirected mail is generally due to sender carelessness.

CHAPTER XXVI: LOOK BEFORE YOU LEAP

“When a person not accustomed to managing money comes into the possession of a sum that it is not safe to carry about in the pocket, what should he do with it? Obviously… ‘He should put it in the bank.'”

This final chapter on business conduct focuses on prudence. When paying a note, always get a receipt and ensure the amount is endorsed on the back of the note to prevent the note from being negotiated for a higher amount. If unable to pay a note, communicate with the bank promptly; bankers are generally willing to grant an extension, but neglect risks protest. Individuals inheriting money should resist the urge to rush into investment schemes proposed by suddenly appearing “friends” and should seek legal advice first. Personal safety rules include promptly meeting club or society dues, immediately counting all money received in the presence of the giver, and avoiding carrying large sums or trusting financial advice from strangers while traveling.

• Chapter Key Points
  • Endorsing payment on the note back prevents fraud.
  • Promptly notify the holder if a note payment will be late.
  • Do not invest new cash in unfamiliar schemes; seek a good lawyer.

CHAPTER XXVII: CONTRACTIONS AND SIGNS

This chapter provides an alphabetical arrangement of contractions, abbreviations, and symbols commonly employed in business, ensuring readers can correctly interpret commercial documents. Definitions are given for standard terms, mathematical symbols, Latin abbreviations (e.g., i.e., N.B., Ult.), and commercial phrases (A1, C.O.D., L.S.).

• Chapter Key Points
  • Provides an alphabetical list of business abbreviations.
  • Defines symbols for measurement and computation.
  • Clarifies common Latin and commercial phrases.

CHAPTER XXVIII: WORDS AND PHRASES USED

“Try to understand clearly the meaning of all the business terms you have to use.”

Serving as a technical glossary, this chapter defines specialized vocabulary used throughout the business world, arranged alphabetically. It covers legal terms (Administrator, Dower, Intestate, Lien), financial instruments (Bill of Lading, Draft, Coupon), and corporate terminology (Common Stock, Preferred Stock, Watered Stock, Sinking Fund). This resource aids the reader in fully comprehending contracts, banking practices, and shipping procedures.

• Chapter Key Points
  • Defines legal terms related to property and estates.
  • Clarifies specialized financial and shipping vocabulary.
  • Explains types of stock, including Watered Stock.

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Notable Quotes from the Book

1. “Never a man has won honestly who did not carry out these rules and laws.”
2. “Many people, not familiar with business methods, are inclined to regard a mortgage as something of a disgrace, when, as a matter of fact it is a most usual and honorable means of raising money…”
3. “A letter is, in a way, a testimonial of the character and ability of the writer.”
4. “Examine all bills and invoices; compare them with the goods received… and be sure that the total is correct.”
5. “It is well to know when interest begins and ends.”
6. “Never make a check payable to ‘bearer’ if it can be avoided.”
7. “The total of all the checks in use at some seasons is far more than the total of all the money in all the banks.”
8. “The evasion of a customs duty is called ‘smuggling’ and is punished by the confiscation of the goods…”
9. “A small safe deposit box with a company that keeps such spaces for rent, is often a wise investment.”
10. “If you are drawing money from a bank, count it quickly and quietly, then secure it in an inside pocket that cannot be reached without unbuttoning.”

About the Author

About the Author

A. R. Calhoun was an early 20th-century writer and business thinker known for his practical insights into personal efficiency, ethics, and professional success. While little is documented about his personal life, Calhoun’s writing reflects deep familiarity with the commercial and social values of his era. His most notable work, Business Hints for Men and Women, distills timeless lessons on conduct, discipline, and communication in business and everyday affairs. Calhoun’s approach blends moral guidance with pragmatic advice, emphasizing integrity, perseverance, and self-improvement as foundations for long-term success. Drawing on his keen observation of human behavior in professional settings, he presented principles that remain relevant for modern entrepreneurs and employees alike. Through his accessible style and focus on character-driven achievement, A. R. Calhoun helped shape early business self-help literature and inspired generations to pursue success through sound values and personal responsibility.

How to Get the Most from the Books

Consult this volume regularly for specific rules and laws outside your routine. Use the comprehensive contents and glossary (Chapters XXVII, XXVIII) to instantly clarify business forms and terms.

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Conclusion

A. R. Calhoun’s Business Hints for Men and Women offers a systematic and compelling argument that competence in commerce is achieved through knowledge, method, and intelligent application. The book functions as both a comprehensive guide to essential personal law (deeds, wills, contracts) and a practical manual for daily financial management (banking, note negotiation, accounting). By condensing these vital rules, the author provides the reader with the foundational understanding necessary to move beyond routine work and engage successfully and honestly in the vast machinery of trade.