LITMIR.BIZ

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men, to put a stop to it, and to do it in time, while something is left. It has been a fault, without doubt, to break in upon other men's estates at all; but perhaps a plea may be made that it was ignorantly done, and they did not think they were run so far as to be worse than nothing; or some sudden disaster may have occasioned it, which they did not expect, and, it may be, could not foresee; both which may indeed happen to a tradesman, though the former can hardly happen without his fault, because he ought to be always acquainting himself with his books, stating his expenses and his profits, and casting things up frequently, at least in his head, so as always to know whether he goes backward or forward. The latter, namely, sudden disaster, may happen so to any tradesman as that he may be undone, and it may not be his fault; for ruin sometimes falls as suddenly as unavoidably upon a tradesman, though there are but very few incidents of that kind which may not be accounted for in such a manner as to charge it upon his prudence.

      Some cases may indeed happen, some disasters may befall a tradesman, which it was not possible he should foresee, as fire, floods of water, thieves, and many such – and in those cases the disaster is visible, the plea is open, every body allows it, the man can have no blame. A prodigious tide from the sea, joined with a great fresh or flood in the river Dee, destroyed the new wharf below the Roodee at West Chester, and tore down the merchants' warehouses there, and drove away not only all the goods, but even the buildings and altogether, into the sea. Now, if a poor shopkeeper in Chester had a large parcel of goods lying there, perhaps newly landed in order to be brought up to the city, but were all swept away, if, I say, the poor tradesman were ruined by the loss of those goods on that occasion, the creditors would see reason in it that they should every one take a share in the loss; the tradesman was not to blame.

      Likewise in the distress of the late fire which began in Thames Street, near Bear Quay, a grocer might have had a quantity of goods in a warehouse thereabouts, or his shop might be there, and the goods perhaps might be sugars, or currants, or tobacco, or any other goods in his way, which could not be easily removed; this fire was a surprise, it was a blast of powder, it was at noonday, when no person coud foresee it. The man may have been undone and be in no fault himself, one way or other; no man can reasonably say to him, why did you keep so many goods upon your hands, or in such a place? for it was his proper business both to have a stock of goods, and to have them in such a place; every thing was in the right position, and in the order which the nature of his trade required.

      On the other hand, if it was the breaking of a particular chapman, or an adventure by sea, the creditors would perhaps reflect on his prudence; why should any man trust a single chapman so much, or adventure so much in one single bottom, and uninsured, as that the loss of it would be his undoing?

      But there are other cases, however, which may happen to a tradesman, and by which he may be at once reduced below his proper stock, and have nothing left to trade on but his credit, that is to say, the estates of his creditors. In such a case, I question whether it can be honest for any man to continue trading; for, first, it is making his creditors run an unjust hazard, without their consent; indeed, if he discovers his condition to one or two of them, who are men of capital stocks, and will support him, they giving him leave to pay others off, and go on at their risks, that alters the case; or if he has a ready money trade, that will apparently raise him again, and he runs no more hazards, but is sure he shall at least run out no farther; in these two cases, and I do not know another, he may with honesty continue.

      On the contrary, when he sees himself evidently running out, and declining, and has only a shift here and a shift there, to lay hold on, as sinking men generally do; and knows, that unless something extraordinary happen, which, perhaps, also is not probable, he must fall, for such a man to go on, and trade in the ordinary way, notwithstanding losses, and hazards – in such a case, I affirm, he cannot act the honest man, he cannot go on with justice to his creditors, or his family; he ought to call his creditors together, lay his circumstances honestly before them, and pay as far as it will go. If his creditors will do any thing generously for him, to enable him to go on again, well and good, but he cannot honestly oblige them to run the risk of his unfortunate progress, and to venture their estates on his bottom, after his bottom is really nothing at all but their money.

      But I pass from the honesty to the prudence of it – from what regards his creditors, to what regards himself – and I affirm, nothing can be more imprudent and impolite, as it regards himself and his family, than to go on after he sees his circumstances irrecoverable. If he has any consideration for himself, or his future happiness, he will stop in time, and not be afraid of meeting the mischief which he sees follows too fast for him to escape; be not so afraid of breaking, as not to break till necessity forces you, and that you have nothing left. In a word, I speak it to every declining tradesman, if you love yourself, your family, or your reputation, and would ever hope to look the world in the face again, break in time.

      By breaking in time you will first obtain the character of an honest, though unfortunate man; it is owing to the contrary course, which is indeed the ordinary practice of tradesmen, namely, not to break till they run the bottom quite out, and have little or nothing left to pay; I say, it is owing to this, that some people think all men that break are knaves. The censure, it is true, is unjust, but the cause is owing to the indiscretion, to call it no worse, of the poor tradesmen, who putting the mischief as far from them as they can, trade on to the last gasp, till a throng of creditors coming on them together, or being arrested, and not able to get bail, or by some such public blow to their credit, they are brought to a stop or breach of course, like a man fighting to the last gasp who is knocked down, and laid on the ground, and then his resistance is at an end; for indeed a tradesman pushing on under irresistable misfortunes is but fighting with the world to the last drop, and with such unequal odds, that like the soldier surrounded with enemies, he must be killed; so the debtor must sink, it cannot be prevented.

      It is true, also, the man that thus struggles to the last, brings upon him an universal reproach, and a censure, that is not only unavoidable, but just, which is worse; but when a man breaks in time, he may hold up his face to his creditors, and tell them, that he could have gone on a considerable while longer, but that he should have had less left to pay them with, and that he has chosen to stop while he may be able to give them so considerable a sum as may convince them of his integrity.

      We have a great clamour among us of the cruelty of creditors, and it is a popular clamour, that goes a great way with some people; but let them tell us when ever creditors were cruel, when the debtor came thus to them with fifteen shillings in the pound in his offer. Perhaps when the debtor has run to the utmost, and there appears to be little or nothing left, he has been used roughly; and it is enough to provoke a creditor, indeed, to be offered a shilling or half-a-crown in the pound for a large debt, when, had the debtor been honest, and broke in time, he might have received perhaps two-thirds of his debt, and the debtor been in better condition too.

      Break then in time, young tradesman, if you see you are going down, and that the hazard of going on is doubtful; you will certainly be received by your creditors with compassion, and with a generous treatment; and, whatever happens, you will be able to begin the world again with the title of an honest man – even the same creditors will embark with you again, and be more forward to give you credit than before.

      It is true, most tradesmen that break merit the name of knave or dishonest man, but it is not so with all; the reason of the difference lies chiefly in the manner of their breaking – namely, whether sooner or later. It is possible, he may be an honest man who cannot, but he can never be honest that can, and will not pay his debts. Now he, that, being able to pay fifteen shillings in the pound, will struggle on till he sees he shall not be able to pay half-a-crown in the pound, this man was able to pay, but would not, and, therefore, as above, cannot be an honest man.

      In the next place, what shall we say to the peace and satisfaction of mind in breaking, which the tradesman will always have when he acts the honest part, and breaks betimes, compared to that guilt and chagrin of the mind, occasioned by a running on, as I said, to the last gasp, when they have little to pay? Then, indeed, the tradesman can expect no quarter from his creditors, and will have no quiet in himself.

      I might instance here the miserable, anxious, perplexed life, which the poor tradesman lives under; the distresses and extremities of his declining state; how harassed and tormented for money; what shifts he is

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