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Advice to a Young Tradesman.
TO MY FRIEND A. B. As you have desired it of me, I write the following hints, which have been of service to me, and may, if observed, be so to you.
Remember that time is money. He that can earn ten shillings a day by his labour, and goes abroad or sits idle one half of that day, though he spends but sixpence during his diversion or idleness, ought not to reckon that the only expense ; he has really spent, or, rather, thrown away, five shillings besides.
Remember that credit is money. If a man lets his money lie in my hands after it is due, he gives me the interest, or so much as I can make of it during that time. This amounts to a considerable sum where a man has good and large credit, and makes good use of it.
Remember that money is of the prolific, generating nature. Money can beget money, and its offspring can beget more, and so on. Five shillings turned is six, turned again it is seven and threepence, and so on till it becomes a hundred pounds. The more there is of it, the more it produces every turning, so that the profits rise quicker and quicker. He that kills a breed
ing-sow, destroys all her offspring to the thousandth generation. He that murders a crown, destroys all that it might have produced, even scores of pounds.
Remember that six pounds a year is but a groat a day. For this little sum (which may be daily wasted either in time or expense unperceived) a man of credit may, on his own security, have the constant possession and use of a hundred pounds. So much in stock, briskly turned by an industrious man, produces great advantage.
Remember this saying, The good paymaster is lord of another man's purse. He that is known to pay punctually and exactly to the time he promises, may at any time, and on any occasion, raise all the money his friends can spare. This is sometimes of great use. After industry and frugality, nothing contributes more to the raising of a young man in the world than punctuality and justice in all his dealings; therefore never keep borrowed money an hour beyond the time you promised, lest a disappointment shut up your friend's purse for ever.
The most trifling actions that affect a man's credit are to be regarded. The sound of your hammer at five in the morning or nine at night, heard by a creditor, makes him easy six months longer ; but if he sees you at a billiard-table, or hears your voice at a tavern when you should be at work, he sends for his money the next day ; demands it, before he can receive it, in a lump.
It shows, besides, that you are mindful of what you owe ; it makes you appear a careful as well as an honest man, and that still increases your credit,
Beware of thinking all your own that you possess, and of living accordingly. It is a mistake that many people who have credit fall into. To prevent this, keep an exact account for some time both of your expenses and your income. If you take the pains at first to mention particulars, it will have this good effect : you will discover how wonderfully small, trifling expenses mount up to large sums, and will discern what might have been, and may, for the future, be saved, without occasioning any great inconvenience.
In short, the way to wealth, if you desire it, is as plain as the way to market. It depends chiefly on two words, industry and frugality ; that is, waste neither time nor money, but make the best use of both. Without industry and frugality nothing will do, and with them every. thing. He that gets all he can honestly, and saves all he gets (necessary expenses excepted), will certainly become rich, if that Being who governs the world, to whom all should look for a blessing on their honest endeavours, doth not, in his wise providence, otherwise determine.
AN OLD TRADESMAN.
TO MADAME BRILLON,
Passy, November 10, 1779. ** I am charmed with your description of Paradise, and with your plan of living there ; and I approve much of your conclusion, that, in the mean time, we should draw all the good we can from this world. In my opinion, we might all draw more good from it than we do, and suffer less evil, if we would take care not to give too much for whistles. For to me it seems that most of the unhappy people we meet with are become so by neglect of that caution.
You ask what I mean? You love stories, and will excuse my telling one of myself.
When I was a child of seven years old, my friends, on a holyday, filled my pocket with coppers. I went directly to a shop where they sold toys for children ; and, being charmed with the sound of a whistle that I met by the way in the hands of another boy, I voluntarily offered and gave all my money for one. I then came home and went whistling all over the house, much pleased with my whistle, but disturbing all the family. My brothers, and sisters, and cousins, understanding the bargain I had made, told me I had given four times as much for it as it was worth ; put me in mind of what good things I might have bought with the rest of the money ; and laughed at me so much for my folly, that I cried with vexation; and the reflection gave me more chagrin than the whistle gave me pleasure.
This, however, was afterward of use to me, the impression continuing on my mind; so that often, when I was tempted to buy some unnecessary thing, I said to myself, Don't give too much for the whistle; and I saved my money.
As I grew up, came into the world, and observed the actions of men, I thought I met with many, very many, who gave too much for the whistle.
When I saw one too ambitious of court favour, sacrificing his time in attendance on levees, his repose, his liberty, his virtue, and perhaps his friends, to attain it, I have said to myself, This man gives too much for his whistle.
When I saw another fond of popularity, constantly employing himself in political bustles, neglecting his own affairs, and ruining them by that neglect, He pays, indeed, said I, too much for his whistle.
If I knew a miser, who gave up every kind of comfortable living, all the pleasure of doing good to others, all the esteem of his fellow-citi