No employment that is really useful to mankind deserves to be regarded as mean. This has been a stumbling stone to many young men. Because they could not pursue a course which they deemed sufficiently respectable, they neglected business altogether until so late in life that they were ashamed to make a beginning. A most fatal mistake. Pin making is a minute affair, but will any one call the employment a mean one? If _so_, it is one which the whole civilized world encourage, and to which they are under lasting obligation daily. Any useful business ought to be reputable, which is reputably followed.

The character of a drone is always, especially among the human species, one of the most contemptible. In proportion to a person's activity for his own good and that of his fellow creatures, he is to be regarded as a more or less valuable member of society. If all the idle people in the United States were to be buried in one year, the loss would be trifling in comparison with the loss of only a _very few_ industrious people. Each moment of time ought to be put to proper use, either in business, in improving the mind, in the innocent and necessary relaxations and entertainments of life, or in the care of the moral and religious part of our nature. Each moment of time is, in the language of theology, a monument of Divine mercy.

SECTION V. _Proper Time of Doing Business._

There are times and seasons for every lawful purpose of life, and a very material part of prudence is to judge rightly, and make the best of them. If you have to deal, for example, with a phlegmatic gloomy man, take him, if you can, over his bottle. This advice may seem, at first view, to give countenance to a species of fraud: but is it so?

These hypochondriacal people have their fits and starts, and if you do not take them when they are in an agreeable state of mind, you are very likely to find them quite as much below par, as the bottle raises them above. But if you deal with them in this condition, they are no more _themselves_ than in the former case. I therefore think the advice correct. It is on the same principles, and in the same belief, that I would advise you, when you deal with a covetous man, to propose your business to him immediately after he has been receiving, rather than expending money. So if you have to do with a drunkard, call on him in the morning; for then, if ever, his head is clear.

Again; if you know a person to be unhappy in his family, meet him abroad if possible, rather than at his own house. A statesman will not be likely to give you a favorable reception immediately after being disappointed in some of his schemes. Some people are always sour and ill humored from the hour of rising till they have dined.

And as in persons, so in things, the _time_ is a matter of great consequence; an eye to the rise and fall of goods; the favorable season of importing and exporting;--these are some of the things which require the attention of those who expect any considerable share of success.

It is not certain but some dishonest person, under shelter of the rule, in this chapter, may gratify a wish to take unfair advantages of those with whom he deals. But I hope otherwise; for I should be sorry to give countenance, for one moment, to such conduct. My whole purpose (in this place) is to give direction to the young for securing their own rights; not for taking away the rights of others. The man who loves his neighbor as himself, will not surely put a wrong construction on what I have written. I would fain hope that there is no departure here or elsewhere, in the book, from sound christian morality; for it is the bible, on which I wish to see all moral rules based.

SECTION VI. _Buying upon Trust._

'Owe no man any thing,' is an apostolic injunction; and happy is he who has it in his power to obey. In my own opinion, most young men possess this power, did they perceive the importance of using it by _commencing_ right. It is not so difficult a thing always to purchase with ready money, as many people imagine. The great difficulty is to moderate our desires and diminish our wants within bounds proportioned to our income. We can expend much, or live on little; and this, too, without descending to absolute penury. It is truly surprising to observe how people in similar rank, condition, and circ.u.mstances, contrive to _expend_ so very differently. I have known instances of young men who would thrive on an income which would not more than half support their neighbors in circ.u.mstances evidently similar.

Study therefore to live within your income. To this end you must _calculate_. But here you will be obliged to learn much from personal experience, dear as her school is, unless you are willing to learn from that of others. If, for example, your income is $600 a year, and you sit down at the commencement of the year and calculate on expending $400, and saving the remainder, you will be very liable to fail in your calculation. But if you call in the experience of wiser heads who have travelled the road of life before you, they will tell you that after you have made every reasonable allowance for necessary expenses during the year, and believe yourself able to lay up $200, you will not, once in ten times, be able to save more than _two thirds_ of that sum--and this, too, without any sickness or casualty.

It is an important point _never to buy what you do not want_. Many people buy an article merely because it is cheap, and they can have credit. It is true they imagine they shall want it at some future time, or can sell it again to advantage. But they would not buy at present, if it cost them cash, from their pockets. The mischief is that when the day of payment is distant, the cost seems more trifling than it really is. Franklin's advice is in point; 'Buy what thou hast no need of, and ere long thou shalt sell thy necessaries;'--and such persons would do well to remember it.

The difference between credit and ready money is very great.

Innumerable things are not bought at all with ready money, which would be bought in case of trust; so much easier, is it, to _order_ a thing than to _pay_ for it. A future day, a day of payment must come, to be sure; but that is little thought of at the time. But if the money were to be drawn out the moment the thing was received or offered, these questions would arise; Can I not do without it? Is it indispensable?

And if I do not buy it, shall I suffer a loss or injury greater in amount than the cost of the thing? If these questions were put, every time we make a purchase, we should seldom hear of those suicides which disgrace this country, and the old world still more.

I am aware that it will be said, and very truly, that the concerns of merchants, the purchasing of great estates, and various other large transactions, cannot be carried on in this manner; but these are rare exceptions to the rule. And even in these cases, there might be much less of bills and bonds, and all the sources of litigation, than there now is. But in the every day business of life, in transactions with the butcher, the baker, the tailor, the shoemaker, what excuse can there be for pleading the example of the merchant, who carries on his work by ships and exchanges?

A certain young man, on being requested to keep an account of all he received and expended, answered that his business was not to keep account books: that he was sure not to make a mistake as to his income; and that as to his expenditure, the purse that held his money, would be an infallible guide, for he never bought any thing that he did not immediately pay for. I do not mean to recommend to young men not to keep written accounts, for as the world is, I deem it indispensable.

Few, it is believed, will deny that they generally pay, for the same article, a fourth part more, in the case of trust, than in that of ready money. Suppose now, the baker, butcher, tailor, and shoemaker, receive from you $400 a year. Now, if you multiply the $100 you lose, by not paying ready money, by 20, you will find that at the end of twenty years, you have a loss of $2,000, besides the acc.u.mulated interest.

The fathers of the English _church_, forbade selling on trust at a higher price than for ready money, which was the same thing in effect as to _forbid trust_; and this was doubtless one of the great objects those wise and pious men had in view; for they were fathers in legislation and morals, as well as in religion. But we of the present age, seem to have grown wiser than they, and not only make a difference in the price, regulated by the difference in the mode of payment, but no one is expected to do otherwise. We are not only allowed to charge something for the _use_ of the money, but something additional for the _risk_ of the loss which may frequently arise,--and most frequently does arise--from the misfortunes of those to whom we thus a.s.sign our goods on trust.

The man, therefore, who purchases on trust, not only pays for being credited, but he also pays his share of what the tradesman loses by his general practice of selling upon trust; and after all, he is not so good a customer as the man who purchases cheaply with ready money. His _name_, indeed, is in the tradesman's book, but with that name the tradesman cannot buy a fresh supply of goods.

Infinite, almost, are the ways in which people lose by this sort of dealing. Domestics sometimes go and order things not wanted at all; at other times more than is wanted. All this would be obviated by purchasing with ready money; for whether through the hands of the party himself, or those of some other person, there would always be an actual counting out of the money. Somebody would see the thing bought, and the money paid. And as the master would give the steward or housekeeper a purse of money at the time, _he_ would see the money too, would set a proper value upon it, and would just desire to know upon what it had been expended.

Every man, who purchases for ready money, will naturally make the amount of the purchase as low as possible, in proportion to his means.

This care and frugality will make an addition to his means; and therefore, at the end of his life, he will have a great deal more to spend, and still be as rich as if he had been trusted all his days. In addition to this, he will eat, and drink, and sleep _in peace_, and avoid all the endless papers, and writings, and receipts, and bills, and disputes, and lawsuits, inseparable from the credit system.

This is by no means intended as a lesson of _stinginess_, nor is it any part of my purpose to inculcate the plan of _heaping up_ money. But purchasing with ready money really gives you more money to purchase with; you can afford to have a greater quant.i.ty and variety of enjoyments. In the town, it will tend to hasten your pace along the streets, for the temptation at the windows is answered in a moment by clapping your hand upon your pocket; and the question; 'Do I really want it?' is sure to recur immediately; because the touch of the money will put the thought into your mind.

Now supposing you to have a fortune, even beyond your actual wants, would not the money which you might save in this way, be very well applied in acts of real benevolence? Can you walk or ride a mile, in the city or country, or go to half a dozen houses; or in fact can you open your eyes without seeing some human being, born in the same country with yourself, and who, on that account alone, has some claim upon your good wishes and your charity? Can you, if you would, avoid seeing one person, if no more, to whom even a small portion of your annual savings would convey gladness of heart? Your own feelings will suggest the answer.

SECTION VII. _Of entrusting Business to others._

'If you wish to have your business done, go; if not, send.' This is an old maxim; and one which is no less true than old. Every young man, on setting out in the world, should make it a rule, never to trust any thing _of consequence_ to another, which he can, without too much difficulty, perform himself.

1. Because, let a person have my interest ever so much at heart, I am sure I regard it _more_ myself.

2. Nothing is more difficult than to know, in all cases, the characters of those we confide in. How can we expect to understand the characters of others, when we scarcely know our own? Which of us can know, positively, that he shall never be guilty of another vice or weakness, or yield to another temptation, and thus forfeit public confidence?

Who, then, will needlessly trust another, when he can hardly be sure of himself?

3. No subst.i.tute we can employ, can _understand_ our business as well as ourselves.

4. We can change our measures according to changing circ.u.mstances; which gives us those opportunities of doing things in the best way, of which another will not feel justified in availing himself.

As for dependants of every kind, it should ever be remembered that their master's interest sometimes possesses only the second place in their hearts. Self-love, with such, will be the ruling principle of action; and no fidelity whatever will prevent a person from bestowing a good deal of thought upon his own concerns. But this must, of necessity, break in more or less upon his diligence in consulting the interest of his employers. How men of business can venture, as they sometimes do, to trust concerns of great importance, for half of every week in the year, (which is half the whole year) to dependants, and thus expect others to take care of their business, when they will not be at the trouble of minding it themselves, is to me inconceivable! Nor does the detection, from time to time, of fraud in such persons, seem at all to diminish this practice.

There is a maxim among business people, 'never to do that for themselves which they can pay another for doing.' This, though true to a certain extent, is liable to abuse. If every body, without discrimination, could be _safely_ trusted, the maxim might be _more_ just; since nothing is more obvious than that laborers are often at hand, whose time can be bought for a much less sum of money than you would yourself earn in the meantime. I have often known people make or mend little pieces of furniture, implements of their occupations, &c.

to save expense, when they could have earned, at their labor during the same time, twice the sum necessary to pay a trusty and excellent workman for doing it.

But, as I have already observed, persons are not always at hand, in whom you can confide; so that the certainty of having a thing done right, is worth much more than the loss of a little time. Besides, G.o.d has never said _how much_ we must do in this world. We are indeed to do all we can, and at the same time do it well; but _how much that is_, we must judge. He is not necessarily the most useful man who does even the greatest amount of good;--but he who does the most good, attended with the least evil.

But we should remember that what _others_ do, is not done by _ourselves_. Still, an individual may often do many little things without any hindrance to his main object. For example, I would not thank a person to make or mend my pen, or shave me; because I can write as much, or perform as much business of any kind, in a week or month--probably more--if I stop to mend my pens, shave myself daily, make fires, saw and split wood, &c. as if I do not. And the same is true of a thousand other things.

SECTION VIII. _Over Trading._

I have already cla.s.sed this among the frauds into which business men are in danger of falling; and I cannot but think its character will be pretty well established by what follows.

Over trading is an error into which many industrious, and active young men are apt to run, from a desire of getting rich more rapidly than they are able to do with a smaller business. And yet profusion itself is not more dangerous. Indeed, I question whether idleness brings more people to ruin than over trading.

This subject is intimately connected with _credit_, for it is the credit system that gives such facilities to over trading. But of the evils of credit I have treated fully elsewhere I will only add, under this head, a few remarks on one particular species of trading. I refer to the conduct of many persons, with large capitals, who, for the sake of adding to a heap already too large, monopolize the market,--or trade for a profit which they know dealers of smaller fortunes cannot possibly live by. If such men really think that raising themselves on the ruin of others, in this manner, is justifiable, and that riches obtained in this manner are fairly earned, they must certainly have either neglected to inform themselves, or stifled the remonstrances of conscience, and bid defiance to the laws of G.o.d.

SECTION IX. _Making Contracts beforehand._

In making bargains--with workmen, for example--always do it beforehand, and never suffer the matter to be deferred by their saying they will leave it to your discretion.

There are several reasons why this ought to be done. 1st. It prevents any difficulty afterward; and does no harm, even when the intentions of both parties are perfectly good. 2d. If you are dealing with a knave, it prevents him from accomplishing any evil designs he may have upon you. 3d. Young people are apt to be deceived by appearances, both from a credulity common to their youth and inexperience, and because neither the young nor the old have any certain method of knowing human character by externals. The most open hearted are the most liable to be imposed upon by the designing.

It will be well to have all your business--of course all contracts--as far as may be practicable, in writing. And it would be well if men of business would make it a constant rule, whenever and wherever it is possible, to draw up a minute or memorial of every transaction, subscribed by both, with a clause signifying that in case of any difference, they would submit the matter to arbitration.

Nothing is more common than for a designing person to put off the individual he wishes to take advantage of, by saying; _We shan't disagree. I'll do what's right about it; I won't wrong you, &c._ And then when accounts come to be settled, and the party who thinks himself aggrieved, says that he made the bargain with the expectation of having such and such advantages allowed him, _No_, says the sharper, _I never told you any such thing_.

It is on this account that you cannot be too exact in making contracts; nor is there indeed any safety in dealing with deceitful and avaricious people, after you have taken all the precaution in your power.

SECTION X. _How to know with whom to deal._

There are two maxims in common life that seem to clash with each other, most pointedly. The first is, 'Use every precaution with a stranger, that you would wish you had done, should he turn out to be a villain;'

and secondly, 'Treat every man as an honest man, until he proves to be otherwise.'

Now there is good advice in both these maxims. By this I mean that they may both be observed, to a certain extent, without interfering with each other. You may be cautious about hastily becoming acquainted with a stranger, and yet so far as you have any concern with him, treat him like an honest man. No _reasonable_ person will complain if you do not unbosom yourself to him at once. And if he is unreasonable, you will not _wish_ for an intimate acquaintance with him.