ECONOMY AND CREDIT. 177 



party has the slightest right to think of that : for both 

 parties' sake, and for their future friendship, let it be 

 business, hard business. 



Juvenis will do well to remember the old saying : 

 ^^ There is no charity in business, and no business in 

 charity," When he is well to do, he may soften the 

 first part as much as he likes. 



Juvenis can always get rid of the risks of bad bills 

 by selling his stock through an auctioneer, when he 

 will either take his bill, for which he will be charged 

 five per cent, over and above the government dues, or he 

 can arrange to^^be paid in cash, when he will have to 

 submit to a gross deduction on the vendor's roll of from 

 eight to ten per cent., but this he will find out-and-out a 

 better plan than taking a bill of which he has the 

 slightest doubt. 



There is no reason why Juvenis, if he has no debts, 

 and has a plucking of feathers, that after allowing for 

 casualties would be sold in three months, should not 

 buy more stock on credit ; but if he is wise he will 

 wait, and then, with cash in hand, in nine cases out of 

 ten, he will buy at a price that will more than compen- 

 sate him for the three months' loss of profit. 



Juvenis should never be led into buying what he 

 does not want, merely because it is cheap, or, as he will 

 constantly hear fellows saying, ^'to do a spec.'' He 



M 



