Excerpt from The Art of Collecting: A Statement of the Underlying Principles and Practices of Collecting, With Suggestions, Forms of Reports, Letters, Etc;, Etc;; For the Collection Manager and the Business Man
When we consider that in the two decades between 1880 and 1900 the public wealth of the United States increased from $42,000,000,000 to $94,000,000,000 - or more than doubled - we must admit the truth of Emerson's assertion that America is another name for Opportunity.
It is a known fact that 95% of the business of the country is done on credit; and, as credit necessitates collecting, the importance of this latter subject is obvious, as is also the vast field open to the man with a specialized knowledge of the collection business.
The average man is too busy with the selling or producing end of his business to give the necessary time and thought to the Collection Department; and inefficient methods are common. This has prompted the author to prepare the present book, which gives not mere theories, but actual working plans - plans which have achieved success. It contains the results of his experience during many years of practical collecting, and gives the facts which the collection manager must know, whether he be acting as collection manager for his own house or in the collection department of some other concern.
In the larger businesses the best results will undoubtedly be obtained by the employment of trained experts.
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