PREFACE

TO THE SECOND EDITION.

SINCE the publication of the first edition of this work in 1889, six hundred copies have passed into the hands of manufacturers in Great Britain, the Colonies, the United States of America, Germany and other foreign centres of the textile industries.

The system of book-keeping which the book describes is now very generally adopted, and I have found no reason for altering. the original text.

In order that those who intend to adopt the system may have properly designed books, I have arranged with the printer, Mr. ALFRED JUBB, Huddersfield, to supply books to approved patterns and at fixed prices.

Huddersfield, April, 1891.

GEO. P. NORTON.

PREFACE.

THE appearance of the present treatise, adding to the already numerous publications on the subject of book-keeping, may be thought to require some explanation.

It will perhaps be sufficient to say, that this volume is devoted to a special industry, and that its design is essentially different from that of other works. The reason for its appearance has arisen out of the peculiar relations of my firm to the manufacturing industries. A large audit practice amongst manufacturers in all parts of the kingdom has rendered almost necessary the production, in some shape, of a comprehensive guide for their book-keepers. My primary intention was to prepare printed instructions that might be referred to in cases of difficulty, but constant evidence of the insufficiency of fragmentary instructions ultimately developed the idea of publishing a complete treatise.

Circumstances have greatly favoured me by providing the amplest facilities for gathering all requisite information. The Chambers of Commerce of Leeds, Huddersfield and Dewsbury in 1879 established the Creditors Association of Manufacturers, and appointed my firm as Accountants to the Association. This, and a similar appointment held from the Home Merchants, in addition to a general practice, has brought under my firm's control many. insolvencies both at home and abroad. Opportunities have therefore been forthcoming for inspecting the accounts of traders in every branch of textile fabric manufacture, of their agencies and branches in all parts of the world, and of the Merchants with whom they deal.

In advising as to causes of failure, decrease of profits, and the results of trading, I have had constantly to investigate, not only into the financial books, but also into those connected with the Mill, Factory and Warehouse. To do this effectually, it has been necessary to acquaint myself with much purely technical information as to the processes of manufacture, and the modus operandi of production and distribution. This extra-professional knowledge has proved very helpful in preparing this work.

I have for several years sought with much diligence to rectify the defects of prevailing systems, and at the same time have carefully selected from them those forms which practical experience and long usage have proved to be the fittest. I have endeavoured to retain what is essential and to discard all that is superfluous, avoiding, as far as possible, all repetition and re-copying of entries. My chief aim has been to obtain everywhere accuracy, lucidity, and completeness by the shortest possible process.

To practical observation I have added a thorough and exhaustive study of what has been previously written upon the theory of book-keeping.

I might perhaps venture to lay claim to certain improvements adapted to all classes of wholesale business, but I prefer to send forth this treatise as an exposition of the best methods that obtain in the manufacturing industries, and of a system that is in successful operation in many of the largest manufacturing concerns in the textile fabric trades.

I can scarcely hope to have provided for all the multifarious requirements of an industry which is so extensive and varied, and must crave the indulgence of my readers for any shortcomings. In extenuation of minor errors or omissions I may plead that my time has been so much occupied with other pressing duties.

In conclusion I have to express my sincere thanks to several friends, who, being manufacturers in various trades, have so kindly given me their assistance and practical advice.

Huddersfield,

January, 1889.

G. P. NORTON.