Ledgers/Extracts - Tutorial

The "Extracts of the Bethlehem Accounts" comprise a series of financial balance sheets and annual statements providing the reader with snapshots of Bethlehem's economy during the eighteenth century. Both during the communal "Oeconomy" period (1741-1762), and after, when Bethlehem's residents lived in familial households, the community featured a tightly organized economic life. The detail found in the Extracts reflects this organization. Most of the data found in the Extracts is taken from the large "Diacony Ledgers." The Diacony (or Diaconat) was the term Moravians used for the financial arm of their community, and the Diacony included everything from bonds taken out in the name of the church to incidental expenses—such as loss of a horse who died on the road. It was the Diacony that owned most of the industries in town, and the profits made from those enterprises were also reported in the annual Extracts.

The pages of the Extracts mirror those of an account book, with debits, or outflow, on the left, and credits, or income, on the right. The Moravian fiscal year generally ran from June 1 to May 31. As with almost all accounting in Bethlehem, the records were kept in Pennsylvania Pounds (£), Shillings, (S), and Pence (d). There were twelve pence in a shilling and twenty shillings in a pound. The following pages will offer a guided tour through the 1761-62 Extract. Although each year's extract is unique, the basic concepts remain the same. The Extract is divided into three sections: A summary of outstanding assets and debts; a summary of the financial position of each industry in the community; and lastly, cash flow during the year in question.

NOTE: The following pages will consist of sample pages, with pop-up windows describing the text. Simply move your mouse over [HIDE] to temporarily hide the window. Conversely, when given the option, the [SHOW] image will make the supplemental information appear.