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To my Friend A. B.

As you have defired it of me, I write the following hints, which have been of fervice to me, and may, if obferved, be fo to you.

REMEMBER that time is money. He that can earn ten fhillings a day by his labour, and goes abroad, or fits 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 fhillings besides.

Remember that credit is money. If a man lets his money lie in my hands E 4 after

after it is due, he gives me the intereft, or fo much as I can make of it during that time, This amounts to a confiderable fum 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 beget money, and its offspring can beget more, and fo on. Five fhillings turned is fix; turned again, it is feven and three-pence; and fo on till it becomes an hundred pounds. The more there is of it, the more it produces every turning, fo that the profits rife quicker and quicker. He that kills a breeding fow, destroys all her offspring to the thoufandth generation. He that murders a crown, deftroys all that it might have produced, even fcores of pounds. Remember that fix pounds a year is but a groat a day. For this little fum (which may be daily wafted either in time or expence, unperceived), a man


of credit may, on his own fecurity, have the conftant poffeffion and ufe of an hundred pounds. So much in stock, brifkly turned by an industrious man, produces great advantage. Remember this faying, "The good paymaster is lord of another man's purfe." He that is known to pay punctually and exactly to the time he promises, may at any time, and on any occafion, raise all the money his friends can spare. This is fometimes of great ufe. After industry and frugality, nothing contributes more to the raising of a young man in the world, than punctuality and juftice in all his dealings: therefore never keep borrowed money an hour beyond the time you promifed, left a disappointment fhut up your friend's purfe for ever.

The moft trifling actions that affect a man's credit are to be regarded. The found of your hammer at five in the morning,



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

For fix pounds a year you may have the ufe 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, waftes the privilege of ufing one hundred pounds each day.

He that idly lofes five fhillings worth of

of time, lofes five fhillings, and might as prudently throw five fhillings into the fea.

He that lofes five fhillings, not only lofes that fum, 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 confiderable fum of money.

Again he that fells upon credit, asks a price for what he fells equivalent to the principal and intereft 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 ufe: fo that he that poffeffes any thing he has bought, pays intereft for the use of it.

Yet, in buying goods, it is best to pay ready money, because, he that fells upon credit, expects to lofe five per cent. by bad debts; therefore he charges, on


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