THe VOGEL-LUCKIE ART OF BOOKKEEPING.

Nelson Evening Mail, Volume VII, Issue 293, 9 December 1872, Page 2

THe VOGEL-LUCKIE ART OF BOOKKEEPING.

TO THE EDITOE OF TIIE NELSON EVENING MAIL " Suo sibi gladio hunc jugulo." Siu — In a foot-note to the leading article in Friday's Colonist, reference, is made to the exception taken by "An Accountant" to Mr. Luckie's statement that the £17,50Q savings is an asset, as follows : — "But the money is an asset; it is funds in hand, and it is no more right to* place this sum . to the debit side of the account than it would be to make a saving of 30s. effected by a housewife on her expenses during the present week, a charge against her for the next." Shades of Hamilton and Whately ! Just fancy the logical powers of the man who sets up an analogy between an exploitered colony and a frugal housewife. Mr Luekie has propounded a sophism. Cannot a parable be written from the text thereof ? A husband allows his wife a certain sum per week for house expenses. He is liberal, but she is careful. At the end of the week there is a balance unexpended of 30s. That 30s. is not he's, ie is her husband's, awaiting further household disbursements. So far, so good. But that provident wife dies, and an improvident one takes her place, In the new wife's allowance there are included certain moneys for the payment of certain, bills, which, though not called for when making up her weekly account, would have to be paid sooner or later. Instead, however, of laying by these moneys, for which she ia practically a trustee, she takes and spends tbem. in an unauthorised way. - The husband, when he comes to look into her accounts, fiDds certain ones outstanding for which he had provided, but ior which there are no funds forthcoming. The wife has spent these moneys for other purposes, she has no cash of her own to make them good, and her husband is still liable for the debts they were intended to discharge. Such is the position of certain accounts in the ledger of the Colonial Treasury, which Mr. Gillies very properly set down as " liabilities," but which Mr Luekie would fain persuade the public were' "assets." He hath chosen the tongue of the crafty. Let his own mouth condemn him. Yours, Ao., An Accountant. December 7, 1872.