CHAPTER II.
On the Management of Business

Section I. On commencing Business

Young men are usually in haste to commence business for themselves. This is an evil, and one which appears to me to be increasing. Let me caution my readers to be on their guard against it.

The evils of running in debt will be adverted to elsewhere. I mention the subject in this place, because the earlier you commence business, the greater the necessity of resorting to credit. You may, indeed, in some employments, begin on a very small scale; but this is attended with serious disadvantages, especially at the present day, when you must meet with so much competition. Perhaps a few may be furnished with capital by their friends, or by inheritance. In the latter case they may as well use their money, if they receive it; but I have already endeavored to show that it is generally for the interest of young men to rely upon their own exertions. It is extremely difficult for a person who has ever relied on others, to act with the same energy as those who have been thrown upon their own resources.⁴