Another item which should in the opinion of the writer appear among the liabilities, is discounted paper. When a man discounts the paper of a customer, received in the course of business, he assumes a liability for the amount, if not paid at maturity. True, the liability is contingent, but a liability nevertheless. The extent of the liability depends on the prosperity of his own customers and the care which he has exercised in accepting their paper. =Information for Retailers.= The information available for the retailer is of a very different class. Here, the factor, the man himself, plays a more important part. The retailer is obliged to depend more largely on his personal knowledge and the general reputation of his customer. The city retailer, for instance, needs to know where the man works, his salary, his reputation for paying others--his landlord, grocer, and butcher--and something about his personal habits and general reputation. How long has he been in his present position? Does he make frequent changes? Does he own a home? What rent does he pay? Any other wage earner in the family? These are some of the questions, the answers to which will assist in determining the credit risk. The country retailer needs other information about his customers. As a rule, he can answer all of the questions asked by the city retailer in respect to his own customers. He is more intimately acquainted with his customers; he has a better opportunity to learn their characteristics and habits, than the city retailer. The country retailer has another advantage, in that a closer bond of friendship exists between him and his neighbor merchants. The interests of city merchants are no less common, but distances separating them make an interchange of views more difficult. About his country customers--the farmers--the retailer requires still different information. Besides full information about the real estate owned, and mortgages given, he needs to know something about the man himself. Does he market his crops early, or is he a speculator--always holding for possible higher prices? Is the farm well kept up? Are the implements properly housed, or left outside at the mercy of the elements? Does he keep his live stock in good condition, and how much does he feed for market? Is he thrifty or shiftless? Only by personal contact can these things be learned. The country merchant who keeps in closest touch with his farmer customers--sympathizing with them in their misfortunes and rejoicing in their prosperity--is usually the most successful. As one country merchant puts it, he must act as a general advisor, and help them bear their very aches and pains. SOURCES OF INFORMATION The usual sources of credit information are the mercantile agencies, reports from local correspondents, reports from traveling salesmen, and merchants' associations or credit reporting agencies.