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ADVICE TO A YOUNG TRADESMAN.

WRITTEN ANNO 1748.

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 fixpence during his diversion or idleness, ought not to reckon that the only expence ; 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

E4

after it is due, he gives me the interest, or so much as I can make of it during that time. This ainounts to a considerable sum where a man has good and large credit, and makes good use of it.

Remember that money is of a prolific generating nature. Money can be get money, and its offspring can beget more, and so on. Five shillings turned is fix; turned again, it is seven and three.pence; and so on till it becomes an 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 breeding fow, 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 fix pounds a year is but a groat a day. For this little sum (which may be daily wasted either in time or expence, unperceived), a man

of

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of credit may, on his own security, have
the constant poffeffion and use of an
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 inore 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 found of your hammer at five in the

morning,

NECESSARY HINTS TO THOSE THAT

WOULD BE RICH.

WRITTEN ANNO 1736.

THE use of money is all the advantage there is in having money.

For fix pounds a year you inay have the use of one hundred pounds, provided you are a man of known prudence and honesty.

He that spends a groat a day idly, fpends idly above fix pounds a year, which is the price for the use of one hundred pounds.

He that wastes idly a groat's worth of his time per day, one day with another, wastes the privilege of using one hundred pounds each day. He that idly loses five shillings worth

of

of time, loses five shillings, and might as prudently throw five shillings into the sea.

He that loses five shillings, not only loses that sum, but all the advantage that might be made by turning it in dealing, which, by the time that a young man becomes old, will amount to a considerable sum of money.

Again : he that sells upon credit, asks a price for what he sells equivalent to the principal and interest of his money for the time he is to be kept out of it; therefore, he that buys upon credit, pays interest for what he buys; and he that pays ready money, might let that money out to use : so that he that possesses any thing he has bought, pays interest for the use of it.

Yet, in buying goods, it is best to pay ready money, because, he that sells upon credit, expects to lose five by bad debts; therefore he charges, on

all

per cent,

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