Andrew Carnegie：Autobiography of Andrew Carnegie, Additional Excerpt 288

We had not much reason to be anxious about our debts. Not what we had to pay of our own debts could give us much trouble, but rather what we might have to pay for our debtors. It was not our bills payable but our bills receivable which required attention, for we soon had to begin meeting both. Even our own banks had to beg us not to draw upon our balances. One incident will shed some light upon the currency situation. One of our pay-days was approaching. One hundred thousand dollars in small notes were absolutely necessary, and to obtain these we paid a premium of twenty-four hundred dollars in New York and had them expressed to Pittsburgh. It was impossible to borrow money, even upon the best collaterals; but by selling securities, which I had in reserve, considerable sums were realized--the company undertaking to replace them later.

Source： https://www.gutenberg.org/ebooks/17976
Locator：Additional excerpt 288 · Verified：2026-10-19 · Verification：Short excerpt

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