482 CHREOTECHNICS. 



yet the merchant receives that which is worth more to him than the 

 goods sold ; thereby showing how Commerce may be regarded as 

 one of the productive arts. 



An important topic, for the merchant, is the use and abuse ot 

 credit. By selling goods on credit, he may make greater sales, and 

 at higher prices : but, without security from some trustworthy per- 

 son, that payment shall be made, he may in the end lose all his 

 profits, and his goods likewise. The asking, and giving of security, 

 is a delicate matter : but we hold that no person should ever become 

 bondsman for another, to such an extent as would ruin or severely 

 distress him, if the principal debtor should fail ; neither should the 

 merchant ever risk his goods, without security, to such an extent as 

 would ruin or greatly distress him, if payment should never be made. 

 With these restrictions, the credit system may, we think, to a certain 

 extent, be beneficial to all the parties concerned. But we would in- 

 sist, that no one risk should be run, nor combination of risks, either 

 in the way of credit or speculation, so great as would cause ruin or 

 failure of obligations, should the risk be unsuccessful. Against ship- 

 wreck and fire, security may be obtained by means of insurance : 

 and where the risk involves a large proportion of our capital, this 

 security should never be neglected. 



2. The Sources of Commerce, are to be found in the numerous 

 articles of natural or artificial production, which have an exchange- 

 able value among mankind. Many of these articles, require parti- 

 cular care and skill for their preservation ; as well as a knowledge 

 of their quality and relative value : but these are subjects which 

 transcend our present limits. We have barely room to enumerate a 

 few of the most important articles of commerce ; naming the coun- 

 tries where they are mostly obtained, and those where they are in 

 greatest demand. Cotton, is raised chiefly in the southern United 

 States, and in India and Egypt. It is carried chiefly to Great Bri- 

 tain, France, and the northern United States, where it is manufac- 

 tured into thread and cloth ; partly for home consumption, and partly 

 for exportation to all other parts of the world. Wool, is exten- 

 sively grown and manufactured in Great Britain, Germany, and the 

 northern United States : silk, is chiefly produced in China, southern 

 Asia, and southern Europe ; and linen, is chiefly produced in central 

 Europe, Russia, Holland, and Ireland. 



Of breadstuff's, wheat, is carried from our Western States to the 

 Atlantic cities ; and flour is exported to Europe and South America. 

 Great Britain receives flour, from Russia, Germany, and the United 

 States ; and rice, from the latter country, and the East Indies. Beef, 

 and pork are exported from our central and western States to the 

 West Indies and South America. Sugar, is exported to Europe 

 chiefly from the West and East Indies ; and refined sugar is exported 

 to various parts, from the United States. France and Germany 

 supply themselves, to a great extent, with sugar from the beet ; and 

 those countries, together with Portugal and Italy, furnish the chief 

 supplies of wine, to the rest of the world. Tea, is produced almost 

 solely in China ; but coffee is raised in the West Indies, Brazil, 

 Arabia, and the East India Islands. These commodities, and 



