The Complete English Tradesman (1839 ed.) by Daniel Defoe
page 244 of 396 (61%)
page 244 of 396 (61%)
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both or all the partners, to the danger of a commission, when they may
themselves know nothing of it till the blow is given, and given so as to be too late to be retrieved. All these, and many more, being the ill consequences and dangers of partnership in trade, I cannot but seriously warn the honest industrious tradesman, if possible, to stand upon his own legs, and go on upon his own bottom; to pursue his business diligently, but cautiously, and what we call fair and softly; not eagerly pushing to drive a vast trade, and enjoy but half of it, rather carry on a middling business, and let it be his own. There may be cases, indeed, which may have their exceptions to this general head of advice; partnerships may sometimes prove successful, and in some particular business they are more necessary than in others, and in some they tell us that they are absolutely necessary, though the last I can by no means grant; but be that as it will, there are so many cases more in number, and of great consequence too, which miscarry by the several perplexed circumstances, differing tempers, and open knavery of partners, that I cannot but give it as a friendly advice to all tradesmen--if possible, to avoid partnerships of all kinds. But if the circumstances of trade require partnerships, and the risk must be run, I would recommend to the tradesman not to enter into partnerships, but under the following circumstances:-- 1. Not to take in any partner who should be allowed to carry on any separate business, in which the partnership is not concerned. Depend upon it, whatever other business your partner carries on, you run the risk of it as much as you do of your own; and you run the risk with this |
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