The Philosophy of Bookkeeping

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D. To have minds at all with such a cash account ? Fortunately, both mind and soul can rise superior to these adverse balances, but it is then unquestionably that the citizens as a whole, the neighbours of the poor, suffer more than the poor themselves in some very serious ways. Bad debts such as these must lead to national bankruptcy some day if allowed to go on. Our first bookkeeping fact, then, is this : we may keep books for ourselves or we may examine what others do and learn the truths wh...ich those outside figures may teach. We must at the same time recognise that in all bookkeeping the figures must be looked at both from within and without. Every credit is a debit somewhere and every debit a credit. If I pay sixpence for a loaf, the coin leaves me and must be entered as leaving me : but the baker must make an entry, which records the exact opposite : he must show in some way that he has received it, if his books are to be correct. The world, indeed, is itself a great clearing house for the debits and credits of life, and it would well repay us all to examine the social waste and depreciation involved in many of our methods with a view to their improvement.

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