Others, who had ability to afford it, were obliged to sell their tallies
and orders at forty or fifty per cent. loss; from whence proceeded that
black trade of buying and selling navy and victualling bills and
transport debts, by which the brokers and usurers got estates, and many
thousands of tradesmen were brought to nothing; even those that stood
it, lost great sums of money by selling their tallies: but credit cannot
be bought too dear; and the throwing away one half to save the other,
was much better than sinking under the burden; like sailors in a storm,
who, to lighten the ship wallowing in the trough of the sea, will throw
the choicest goods overboard, even to half the cargo, in order to keep
the ship above water, and save their lives.

These were terrible examples of over-trading indeed; the men were
tempted by the high price which the government gave for their goods, and
which they were obliged to give, because of the badness of the public
credit at that time; but this was not sufficient to make good the loss
sustained in the sale of the tallies, so that even they that sold and
were able to stand without ruin, were yet great sufferers, and had
enough to do to keep up their credit.

This was the effect of giving over-much credit; for though it was the
government itself which they trusted, yet neither could the government
itself keep up the sinking credit of those whom it was indebted to; and,
indeed, how should it, when it was not able to support its own credit?
But that by the way. I return to the young tradesman, whom we are now
speaking about.

It is his greatest prudence, therefore, after he has considered his own
fund, and the stock he has to rest upon--I say, his next business is to
take care of his credit, and, next to limiting his buying-liberty, let