The Complete English Tradesman (1839 ed.)

g too much trade, than for want of trade. Over-trading is among tradesmen as over-lifting is among strong men: such people, vain of the strengh, and their pride prompti

in their single capacity, he gained from them all; but at last pride made him think himself a match for them all together, and he entered into a declared war against the emperor and the empire, the kings of Spain and Great Britain, and the states of Holland, all at once. And what was the consequence? They reduced him to th

ed him. Though the story is a fable, the moral is good to my present purpose, and is not at all above my subject; I mean that of a tradesman, who should be warned against over-trading, as earnestly, and with a

are condemned by the prudent part of mankind; but it is as hard to restrain youth in trade, as it is in any other thing, where the advantage stands in view, and the danger out of sight; the profits of trade a

d with too great a gust of gain. Avarice is the ruin of many people besides tradesmen; and I might give the late South Sea calamity for an example in which the longest heads were most overreached, not so much by the wit or cunning of those they had

alled over-trading, in a young beginner; and

beyond th

too larg

danger lies particularly in this, if the tradesman over-buys himself, that is, buys faster than he can sell, buying upon credit, the payments perhaps become due too soon for him; the goods not being sold, he must answer the bills upon the strength of his proper stock-that is,

ent paymaster; and though they may give him credit as before, yet depending that if he bargains for six months, he will take eight or nine in the payment, the

pay for, run into debt, and be insulted, and at last ruined. Merchants, and wholesale dealers, to put off their goods, are very apt to prompt young shopkeepers and young tradesmen to buy great quantities of goods, and take large credit at first; but it is a snare that many a

usly; if he has money to pay, he need never fear goods to be had; the merchants' warehouses are

loucestershire, and at Sturbridge fair, near Cambridge; and their butter at Ipswich fair, in Suffolk; and so of many other things; but the answer is plain: those things which are generally bought thus, are ready money goods, and the tradesman has a sure rule for buying, namely, his cash. But as I am speaking of taking credit, so I must be necessarily supposed to speak of such goods as ar

nt or their vanity; for, except in retailers' shops, and that in some trades where they must have a great choice of goods, or else may want a trade, otherwise a well-experienced tradesman had rather see his warehouse too empty than too ful

o have a tolerable show and choice of fashionable goods, that gives his shop a reputation, he derives no credit at all from a throng of old shopkeepers, as they call them, namely, out-of-fashion things: but in other trades it is much more a needful caution; a few goods, and a quick sale, is the beauty

credit is good, untouched, unspotted, and who, as above, has maintained it with care, shall in many cases buy his goods as cheap at three or four months' time of payment,

reat success, and to a very considerable degree, and yet have not had at bottom one shilling real stock; but by the strength of their reputation, being sober and diligent, and having with care preserved the character

He that takes credit may give credit, but he must be exceedingly watchful; for it is the most dangerous

him, he can never support his own credit, unless by the caution I am now

st out so much as he is trusted with. If he has a real stock, indeed, besides the credit he takes, that, indeed, makes the case differ; and a man that can pay his own debts, whether oth

states at bottom, and were in full credit themselves, trusted the public with too great sums; which, not coming in at the time expected, either by the deficiency of the funds given by parliament, and the parliament themselves not soon making good those deficiencies,

usurers got estates, and many thousands of tradesmen were brought to nothing; even those that stood it, lost great sums of money by selling their tallies: but credit cannot be bought too dear; and the throwing away one half to save the other, was muc

ere obliged to give, because of the badness of the public credit at that time; but this was not sufficient to make good the loss sustained in the sale

ld the government itself keep up the sinking credit of those whom it was indebted to; and, indeed, how should it, when it w

his selling. Could the tradesman buy all upon credit, and sell all for ready money, he might turn usurer, and put his own stock out to interest, or buy land with it, for he would have no occasion for one shilling of it; but since that

; perhaps they are goods which are usually sold so, and no otherwise; but the alternative is before him thus-ei

ruction, and it is a hundred to one but he is blown up: perhaps he owes the ten thousand pounds to twenty men, perhaps the eleven thousand pounds is owing to him by two hundred men-it is scarce possible that these two hundred petty cu

ove to his two hundred customers, at three months' and four months' credit, then it might be supposed all, or t

he rest for six months' credit, it might be supposed that the three thousand pounds in cash, and what else the two hund

for the tradesman to guard himself against running too far into debt, or letting other people run too far into debt to him; for if they do not pay him, he

carried on, without a reciprocal credit both taken and given; but it is so nice an article, that I am of opinion as many tradesmen break with giving too much credit, as bre

ndertakings, either out of the common road which the tradesman is already engaged in, or grasping at too many undertakings at once, and having, as it is vu

ry business, which is the main support of his family; they lessen his strength, and while his trade is not lessened, yet his stock is lessened;

eady money; and what follows? The money, which was before the sinews of his business, the life of his trade, maintained his shop, and kept up his credit in the full exte

e for less and less, till at last he is wasted and reduced: if he has been wise enough and wary enough to draw out betimes, and avoid breaking, he has yet come out of trade, like an old invalid

, and confining himself to what belongs to him there, goes on in the road of his business without launching into unknown oceans; and content with th

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to deal. A shopkeeper can hardly commit a greater blunder than allow himself to be out of any article of his trade. One of his chief duties ought to consist in keeping up a fresh stock of every article which there is a chance of being sought for, and

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ccession, concluded by the