Magazine article Business Credit

Past Accounts

Magazine article Business Credit

Past Accounts

Article excerpt

75 years ago. ..1935

"The rewards for business in the years ahead will be more conservative. The participation in these rewards will be selective rather than general. The profits will go to the alert and the industrious rather than to those who drift along in the hope of eventually being carried forward by favorable trade winds. Merely getting into the tide of business recovery will not, as in the past, insure earnings." - Henry Heimann, NACM Executive Manager, 1935.

And, according to the sixth business survey of the NACM Economic Credit Council, the most disturbing factors facing business and government in January 1935, in order from most disturbing to least were:

Inflated government expenses


Excessive taxes

Unsettled money policies


Foreign trade curbs



Bonus demands

War threats


50 years ago. ..I960

"Credit is too frequently employed improperly, and credit in the wrong hands can be as dangerous as a space missile. Credit is a potent, dynamic force. It can build or wreck nations. It can win or lose wars. It can create or destroy a people's standard of living. Its possibilities are infinite, but it must be controlled with care and skill."- Edwin Moran, NACM Executive Vice President from his "Credit Resolution for 1960"

Highlights of the 64th Credit Congress in St. …

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