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CIHM/ICMH

Microfiche

Series.

Canadian Institute for Historical Microreproductions

1980

CIHM/ICMH

Collection de

microfiches.

Institut Canadian de microreproductions historiques

Technical Notes / Notes techniques

The Institute has attempted to obtain the best

original copy available for filming. Physical

features of this copy which may alter any of the

images in the reproduction are checked below.

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Pages discoloured, stained or foxed/

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de la distortion le long de la marge

intdrieure)

L'Institut a microfilm* le meilleur exemplaire

qu'll lul a 6t6 possible de se procurer. Certains dAfauts susceptibles de nuire A la quality de la

reproduction sont notis cl-dessous.

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D

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Coloured pages/

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Show through/

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Additional comments/

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Bibliographic Notes / Notes bibliographiques

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Le titre de

missing/

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IVIaps missing/

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Additional comments/

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The

pos

oft

film

The

con

or t

app

The

film

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in c

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The images appearing here are the best quality

possibie considering the condition and legibiiity of the original copy and in Iceeping with the filming contract specifications.

The last recorded frame on each microfiche shall

contain the symbol —(meaning CONTINUED"),

or the symbol V (meaning "END"), whichever

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The original copy was borrowed from, and

filmed with, the Itind consent of the following

institution:

National Library of Canada

Maps or plates too large to be entirely included

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bottom, as many frames as required. The following diagrams illustrate the method:

1

Les images suivantes ont 6t6 reproduites avec le plus grand soin, compte tenu de la condition et

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Un des symboles suivants apparaTtra sur la der- nidre image de cheque microfiche, selon le cas:

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L'exemplaire film6 fut reproduit grAce A la

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BibliothAque nationale du Canada

Les cartes ou les planches trop grandes pour Atre

reproduites en un seul clichA sont filmAes A partir de Tangle supArieure gauche, de gauche A

droite et de haut en bas. en prenant le nombre

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illustre la mAthode :

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FOUNDATIONS OF SUCCESS

AND

LAWS OF TRADE;

i

BOOK DEVOTED TO BUSINESS

AND ITS

SUCCESSFUL PEOSECUTION,

EMBRACING EVERY DETAIL FROM THE SMALLEST TO THE GREATEST EACH BEING TRACTICALLY CONSIDERED IN ITS PROPER

ORDER, FORMING A PROGRESSIVE

BUSINESS GUIDE AND HAND-BOOK OF REFERENCE

FOE

YOUNG MEN, CLERKS, MERCHANTS, MECH.ANICS, FAR

MERS, AND THE HOUSEHOLD.

BY

ABARRISTER-AT-LAW.

LONDON, ONT.:

SCHUYLER SMITH & CO.,

1877.

Sold only by Subscription throuah our Agents.

Entered according to Act o? thk Parliament of Canada, in the year

one thousand eight hundred and seventy seven, by SCIIUYLEB

SMITH, iu the office of the Minibler of Agriculture.

T-ONDON, ONT.:

f

VIVUN, Printer aad Bterbotyper, 808 Clarence Street

?

9

LIST OF AUTHORITIES.

Addison on Contracts.

Addioon on Wrongs and Their Remedies

Archibald's Landlord and Tenant.

Amould on Insurance. Blackstone's Com. on Laws of England.

Broom's Common Law.

Broom's Legal Maxima.

Bylos on Bills and Notes.

Bayley on Bills.

Burge 03 Suretyship.

"Barrister," Cabinet Lawyer.

Chitty on Contracts.

Coate on Mortgages. Crabb or. Conveyancing.

Collyer on Partnership.

Comyn's Landlord and Tenant.

Dart on Vendor and Purchaser. Dijcon on Partnership.

Fisher on Mortgages. Fry on Specific Performance,

Gale on ilasements.

Greenwood on Conveyancing.

Hawkins on Wills.

Hilliard on Sales.

Jarman on Wills.

Leake on Contracts.

Lindley on Partnership.

Mayne on Damages.

Smith on Master and Servant. Smith on Common Law.

Smith's Landlord and Tenant.

Smitii on Mercantile Law. Stephen's Com. on Laws of EnglajuL

Sugd3n on Vendor and Purchaser.

Williams on Personal Property. Williams on Real Property.

r.:

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PREFi^CE.

For "Foundations of Success and Laws of Trade," a preface,

to do justice to the work, cannot be written. The character of

the workits immense value to every business man, to every

farmer and mechanic, to every young man, and to every family,, makes it a book that no preface can explain, but one that has

only to be seen to be appreciated. It is a work that has long been

desired by the peoplethe lack of which has been felt by the

young man, the inexperienced merchant, the mechanic, the farmer,

and every household; and to

them

we are willing

to leave

it, believing that their commendations will make a better pre-

faceone more satisfactory and intelligent than we can write or

can be written.

We refer the reader to the pages of the work, satisfied that

its practical utility and solid value will prove a material help to

the young man in the progress of business life, and of incalcu-

lable value as a work of reference and instruction to all who, hav-

ing years of experience, are still not too wise to learn from thQ

experience of othei's.

NOTICF

This booK will be sold Exclusively by Subscription. It will

never be obtainable at the book stores; and there will be but one

opportunity to purchase it, which will be when called upon by

our agent.

It will be the agent's business and pleasure to visit

each person in his or her community and solicit their orders. All

who avail themselves of this opportunity to purchase it will have

the book delivered to them by the agent. Tlie publishers, know-

ing the great importance and value of the work, agree that they

will refund the price of the book, on its being returned to them

in good order by any purchaser who, after examining the same

carefully, shall feel or express the opinion that it is anything less

than one of the Best Purchases of His Life.

Guarantee never before offered by any publisher, to our know-

This is a

ledge, but which we have no hesitancy in giving in reference to

this invaluable work,

THE PUBLISHERS.

FOUNDATIONS OF SUCCESS & LAWS OF m\DE.

SUCCESS IN BUSINESS

CHOOSING A BUSINESS.

Some people are possessed of the idea that choosing a business

is of the utmost importance to the young man, but we think that

this notion has been greatly overrated. The most important fe»

tures of every business are energy, tact and honesty ; and no

matter what business a young fcian may see fit to enter, let it bo

that of a mechanic, merchant or farmer, without these three

important features, failure is sure to follow: with them, success

IB certain to crown his efforts.

Of course there are exceptions.

Where the occupation is decided by nature, it is the duty of the parents and friends not to thwart, but to assist him. For

instance: a young man possessed of extraordinary mechanical

ingenuity has no business in a counting-room ; and yet how many can there be found! They make poor merchants; and the wor

has lost their skill as mechanics.

HONESTY.

A thoroughly honest clerk is indeed a treasure to any estab-

lishment, and he will very soon gain the confidence of his employ- ers. When that is the case, he is on the road to fortune, and

pretty well advanced at that He can not only contiol a large

FOUNDATIONS OF SUCCESS

amount of capital, but he will also have the confidence of others,

who will always have a place for a man they can trust. Dishon-

esty never pays, either in a clerk or employer ; and though at

times he may be successful, yet in the end it is sure to be fatal.

One of the reasons why so many clerks are dishonest is that

numbers of employers fail to pay an equivalent for the clerk's

time ; this ho is awar<

f, and, as a consequence, he occasionally

pays himself, entirely lorgetting that he is cultivatir

m trait

of character that will, sooner or later, result in life-long disgrace and dishonor.

ECONOMY.

It is easy to make money, but it is much harder to save it.

If

every young man would save his earnings, instead of spending

them foolishly, he would, in a few years, have a sufficient amount

to enter into business on his own account. But look at the aver- age young man who is receiving a fair salary ! How does he use

his money ? He is ahvay " short " much more so than one who

has a family to support-*-while really he should have money in

the bank, and be able, in a few years, to take advantage of some

good opening, and enter into some business. Young man, improve

your opportunities.

Don't spend your money, which, it is to be

hoped, you have sarned hardly, in frivolities. Don't putt' it away

in smoke. Don't get rid of it by games of chance or gambling,

which will certainly result in a business recklessness, sure to end

in financial ruin, however the fickle goddess, Fortune, may smile

on you for a time.

Always get fair value for your dollars when

you let them go, even if at times it may be but a " Thank you,

sir," for well-timed charity.

INDUSTRY.

Be sure and recollect an important matter when you engage

yourself in an establishment, and that is, that you are expected

to work and not play. The eye of your employer is always on

you, and though he may not say anything, yet he thi/nks. Let his

•.

AND LAWS OF TRADE.

thouglits be in your favor ; in fact, make them bo, for they will

at some future time be your capital. Let not your interest in

your employer's business be confined to the hours of business, but

also out of businessbeing ever ready to work, ever ready to

advance the interests of the establishment, even if it does re(iuire over-hours. Make yourself useful also by knowing your business,

and being able at all times to occupy your fellow-clerk's place in

his absence, thereby aiding your employer in his hour of need.

It will be noticed, young man, and will be appreciated. It will pay in the end ; and if you are sufficiently wise to understand how to make your future, you will make." industry and faith-

You will also do well, at the outset of

your career, to learn, once and forever, that all honest labor is

honorable, and none more honorable than another. False pride

in this respect damages a young man in the estimation of any

sensible person more than anything elsefar more than any labor he may be engaged in. The clerk who is above " carrying a parcel " will always remain a clerk ; but he who is not afraid

to do anything that is to be done will be sure to rise, and in time

will be in a prosperous business for himself.

fulness " your motto.

Do not be ashamed

of honest work

POLITENESS.

This is a clieap and servicealjle article ; in facl, it costs Noth-

ing. It is 80 cheap that some establishments do not care about

allowing it room. Yet the loss of it is felt more keenly than the

Politeness in an estab-

lishment takes the place of an immense portion of the capital

loss of any other article in the concern.

and the proprietor who understands that portion of the business,

and makes it a specialty, is bound to be successful.

It must not

be a "sham,'' but a true and natural politeness; and the difference between the two kinds is so easily distinguishable, that we need

not take time to investigate the methods of recognition. There

is as much difference between the two articles as there is between

FOUNDATIONS OF SUCCESS,

ft dandy and a gentlciLan, or between good and counterfeit money,

and as easily detected, if not more so.

Let every young man

determine to control his temper, and, under all circumstances,

exhibit a kind and polite bearing.

No matter how a man in business may be placed, he should

never forget himself, for just at that moment he is sure to be

 

noticed.

No matter how trivial inquiries may be made of him,

 

I

I

they should be answered to the best of his ability, and in a pleas- ant manner. In fact, it is his opportunity, when there is nothing

 

at stake, to show his good breeding; and it is sure to take, and

will bring its reward. Many merchants so far forget themselves

!

I

as to show their annoyance when a party examines their goods,

and goes away without purchasing. They did not wint the

goods that were shown them; but if he had what they wanted

they would have purchased; hut now he has, by his want of

courtesy, lost there custom forever. Politeness, real, genuine politeness, pays well. Make room for it in your establishment.

MEMORY.

In business, few things help and aid a man more than a good

memory. It also is a portion of the capital of the establishment, and every proprietor should possess it. The clerk, feeling that with it he better servas his employer, should, therefore, do every-

thing to cultivate such a wonderful accomplishment. Never be compelled to say to a customer, "Your face, sir, is familiar; but I

must ask your pardon that I can't recall your name;" for the

customer, who might have been made an old customer of the

establishment, is treated as a new one, and the door is left open

for him *o call at some otlier rival concerr.

man's entrance, the clerk or proprieter had met him at the door,

and after shaking hands with the new comer, and addressing him,

, naming his town, and treating hiro

ask when he l^ii

Suppose, on that

as an old customer, and one whoso trade you wanted. You can

show that man goods! He appreciates the compliment of being

AND LAWS OF TIUDE.

remembered, and feels that you are a man who wants his custom;

besides, really, you know him and he knows you.

SECRECY.

If you are doing well in business, that is your

own business, and not your rival's.

will only stimulate him to greater exertion, and in the end injure

To inform him of the fact

Never boast!

you.

If, on the contrary, your business is dull, do not let the

whole neighborhood know it, for it will do you no good. Make

an effort to increase your business, but do not let people know it.

If you boast of your business, you are usually suspected of sup-

porting your credit by words; but he who shows it by actions

Human nature hates secrecy and delights

has better evidence.

in confidence, and the natural instincts of our race are to impart

the knowledge we possess to others. This should never be done

without first well weighing the possible consequences. The suc-

cessful man keeps his own counsel.

^

APPOINTMENTS—MAKING AND KEEPING.

Nothing speaks better for a young man, or in fact for any

man, be he a merchant or farmer, than promptness in keeping

appointments. Never make an appointment that you cannot keep

and if you do make one, keep it promptly. You have no right to

disappoint a man, or, by your act to waste his time.

If you

make an appointment to meet a man at two o'clock, it is your

duty to be there at that hour, and not at fifteen, or even five minutes after the time you agreed. It makes a bad impression,

while promptness always leaves a good one. On the other hand,

if you are a business man, it does not pay you to advertise your

lack of business by being before timethat is, to be on hand fif-

teen minutes before the appointed hour. As time is money, or

should be, to all pushing, go-ahead men, and yo,u have none to

spare, keep appointments "promptly;" neither waste your own

time nor that of the party whom you have agreed to meet.

6

FOUNDATIONS OF SUCCESS,

KEEP WITHIN YOUE MEANS.

No person can thoroughly and truly appreciate the heading of

this article so much as he who by bitter experience in not doing

so, has tasted the fruits thereof.

No man can successfully do a

business that requires a capital of thirty thousand dollars on a

capital of ten thousand. On this rock has many a business man been wrecked ; and of all the evils of mercantile life, tWs is one

To swell his business to vast proportions, to

of the very worst.

make his house a leading one, is a worthy ambition ; and if the

man has the means, perhaps he may be successful in his efforts ;

but if he has not the capital, it will be better, far better, to go

slowly, surely, and keep within his means. A merchant may have an ambition to make himself prominent in his line of busi-

ness, and to this end embark in enterprises, and, through his

agents, ransack the country, sclic? ting trade, more or less of wh» ! is unsafe and unprofitable ; and although he may do an immense

business, yet the more he does the worse off' will he find himself,

he must sell on credit, and consequently he must buy on credit.

His trade has grown to such large proportions that he is com-

pelled to buy on time ; besides, the greater part of his new trade

is with merchants to whom he is, to gain and keep their custom,

compelled to give credit. He is now between two fires. And the position is one that any merchant, M^ho has experienced the situa-

tion, will very quickly say is one of the heaviest loads that a man

can assume.

the position becomes unbearable ; so much so, that the merchant

Every day only adds to this load ; and in the end

loses interest in his business, and does not give it the attention it

actually needs. The " bill-book " matter takes his attention ; and

the notes which grow in number and size must have his individual

care.

He is pushed by the parties he owes ; and he must push

his customers.

afford to show any leniency to those who owe him ; and his

" pushing " them, perhaps, will be the cause of changing their

patronage to another firm. Bills receivable must be thrown into

His obligations must be met ; and he

cannot

AND LAWS OF TRADE.

bank for discount, and with no certainty but that they will have

to be protested for non-payment at maturity. Besides paying

heavy interest, the bank account will be kept very low. Goods have to be purchased at a disadvantage ; and soon bankniptcy

puts an end to his misery.

He has gone beyond his means

waded into deep water, and not being able to swim, the result is financial drowning or ruin.

" Going beyond your means," and excessive credits, may be put

down as the curse of business.

Ask any merchant, either whole-

.sale or retail, as to the amount of his outstanding accounts, and

the answer will startle you ; and you will wonder how they can,

with their apparent capital and business, carry such an immense

load as long as they do, and meet their notes promptly. But to

the merchant who has passed through this experience it is easy

of explanation ; and the old story of borrowing, " selling out at

cost," etc., is the one.

Keep within your means. It will i^ the end pay you the best.

And though you may not make as great a " splurge " in the

world, yet when your rivals are figuring in the bankruptcy

courts, you will be doing a good and safe business , and though

they were prominent in their line, you will be sure to be so, and

on a much firmer foundation.

BUSINESS LOCATION.

Every beginner in business should thoroughly consider this

subject, as an inferior store in a good location is far preferable to

a fine establishment in a poor one. Some men who can command

a trade, and who have the means to fight opposition, may act

more independently in this respect, and open out in a position

which in itself is undesirable ; but to a new beginner, location is

an all important matter. To be sure, the store may not come up

to his wishes in many respects, and the rent, to all appearances,

be high ; but this must not influence him to such a degree as to

make him refuse it. The rental between the cheap store and the

f FOUNDATIONS OF SUCCESS

high-priced one may look formidable, '

when the superior

advantages are taken into consideration, there may be nothing

alarming in it after all. Location in many cases makes the busi-

ness ; and many inferior store-rooms, in a good location, are worth

three thousand dollai-s, while a better and more attractive estab- lishment, in a less desirable situation, would not be worth more

At first sight, the difference appears

day by day, and the difference will be only

great ; but take it

about eight dollars and sixty-two cents for each business day

But look at the difference in the thoroughfare !

than three hundred dollars.

On the street on

which the high-priced store is situated there is continually pass- ing from fifteen to twenty-five persons, while there is one by the

Here is a value that any business man

other establishment.

can see at a glance ; for