Chap. VI.]

THE MERCANTILE PROFESSION.

359

in proportion to their respective debts. Such a law ought toadmit of no preferences to endorsers ; no favors to friends ; nopartial assignments for special objects, which are just so manymeans by which an insolvent debtor may stipulate for and coverbenefits for himself; and finally, while a bankrupt law ought toinflict severe penalties upon a fraudulent, prevaricating, and per-jured debtor, it ought to hold out cheering inducement and hon-orable rewards to the open and upright man, to cherish and pro-tect the unfortunate, but honest debtor, and to return him a partof his substance, with which to supply his wants and resume hisbusiness.

Again, men too frequently assume the profession of merchantsin this country, who are utterly unqualified by the general edu-cation, by the particular education, by the knowledge and ac-quirements, which are indispensable to command respect, andobtain a continued and honorable success. To open the springsand manage the currents of commerce, to plan a voyage of ad-venture and calculate its contingencies, to provide and regulatethe funds and finances of various extensive mercantile operations,so that they shall meet every want at the proper time and place,is the business of the higher order of merchants. Is commerceso low in the scale of human affairs, that the qualifications it de-mands are so common, as to require no education suitable forthem, no experience to obtain them ? Why should not ayouth, who aims at the profits and honors of commerce, whoexpects to be distinguished by ability and success as a merchant,begin his career in a counting-house, where he can see thepractical operations of business in its various branches ; wherehe can acquire habits of system, regularity, and exactness ; ac-quire thorough skill in accounts ; learn to distinguish, withpromptness and accuracy, the qualities of merchandise ; antici-pate the fluctuations of the market, by the causes which usuallyaffect them ; and acquire a tact of caution and foresight, of cal-culation and decision, which alone can secure a safe and con-tinued prosperity. This is the way in which merchants whodeserve, or even aspire to the name, are made in other coun-tries.*

Ibid., p. 10.