from large reductions fuddenly made. But it does not prove the impropriety of making even large reductions gradually. Were this mode adopted, no immediate or material inconvenience would be felt by any individual; and in the course of years the number of fmall dealers would be diminished, partly by fome of them turning their little capitals into other branches of trade, but principally by the circumftance of fewer entering from time to time into that particular line, until it had at length fubfided to that proportion which would be able to procure a comfortable livelihood on the reduced rate of profit. And further, it must not be forgotten, that if this principle of reasonable reduction were purfued as far as it might be in different trades; an event towards which no steps can be taken unless great dealers begin to fet the example; thofe fmall dealers, who might experience a diminution of their incomes by felling their own commodities at a reduced price, would be benefited in return, by being able to lay in their ftock for trade, and to purchase, in the capacity of confumer, other articles from

their neighbours, on lower terms. We may obferve, in quitting this subject, that whoever is convinced, on confcientious reflection, of the propriety of reducing the terms and prices of his own business, ought not to be deterred from carrying the plan into execution, by the public clamour, or the private folicitations, of his avaricious or mistaken brethren.

Among the moral virtues peculiarly to be cultivated by persons occupied in business or commerce, probity stands foremost. It may appear fuperfluous to admonish the trader to practise common honesty; but perhaps it is less fo than it may feem. This remark is not intended to convey illiberal and unmerited reflections on the character of particular defcriptions of men; nor to intimate that a confiderable number of traders would knowingly be guilty, if opportunity fhould offer, of grofs cheating. Individuals there are, in the trading world, fo deftitute of moral principle as to pursue gain by every poffible method; plundering individuals, and defrauding the revenue, regardless of the laws of God, and of

thofe

thofe of their country. But men that act this, are not to be reclained by a fhort and tranfitory warning. My chief defign is to put the man of business on his guard against being drawn almost imperceptibly into practices, which, though they may be rendered familiar to the mind by habit, and may carry on their face no ftriking characteristics of criminality, yet will be found, on examination, to partake of deceit, and to merit the appellation of petty frauds. The temptations to fuch practices vary as well as the practices themfelves, in each different employment: but they occur more or less, and are too frequently indulged, in all. Some inftances of them will be given hereafter; but in this place it is neceffary to mention one of the principal grounds on which they are defended. This is what is called the custom of trade. In all matters which in their own nature are indifferent, the 'cuftom of trade may be a proper guide; and in many cafes which will occur, it is the only poffible guide: but innumerable evils refult from adopting it as the general rule of commercial morality. Under its deluding influence

fluence the (f) trader blindly proceeds in the beaten path, rarely exercifing his judgement, except in the most glaring cafes, in the difcrimination of right and wrong; or furrendering up his fcruples to its authority, and acquiescing in practices which he discerns to be fraudulent, merely because they appear fanctioned by the conduct of his neighbours. But he who is folicitous" to preferve a confcience void of offence" will not put his conscience in commiffion. He will examine every thing for himself. He will entertain ftrong and jealous fufpicions, that in the complicated dealings of trade, where selfishness meets with continual opportunities of gratifying itself, common ufage will have established many proceedings which it will be his duty to decline and to counteract. He will be ever on the watch against being betrayed into guilt by the fnares of cuftom. He will not be deterred, either by false shame, by mistaken ideas of honour, by the certainty

(f) To avoid the tedious and repeated enumeration of bankers, merchants, agents, manufacturers, &c. I ufe, though perhaps with rather uncommon latitude, the term trader, in this place and in others, to comprehend them all.

VOL. II.

of

of present lofs, or by the apprehension of offending his partners, though they should be older and richer than himself, and though his own profpects fhould greatly depend on the continuance of the connection, from discharging his private duty, and setting an upright and encouraging example to others, by abandoning every practice, however generally prevalent, which he believes to be tinctured with deceit. Much lefs will he ever be induced to break or evade the laws of his country, either by the plea of cuftom, or of what he will hear termed the neceffity of trade (g). Nor will he

be

(g) While French cambrics were subjected to a duty amounting to a legal prohibition, almoft every linen draper in London, perhaps every one, fold them; and all of them pleaded custom on the one hand and neceffity on the other. The neceffity was the neceffity of pleasing their customers, who scarcely knew that the cambrics were French and illegal. Each fhopkeeper was afraid that, if he could not furnish his customer with a frill to his shirt, both frill and shirt would be bought at a neighbouring shop, where no fcruples would be found. The law was very objectionable, and is now repealed. But while it exifted, the introduction of cambrics to fale was the moft palpable fmuggling. The linen-draper was not the actual fmuggler. Certain perfons, with whom he was in habits of private intercourfe, did that part of the business for him;

and