The Young Man's Guide

by William A. Alcott

There is a maxim among business people, 'never to do that for themselves which they can pay another for doing.' This, though true to a certain extent, is liable to abuse. If every body, without discrimination, could be safely trusted, the maxim might be more just; since nothing is more obvious than that laborers are often at hand, whose time can be bought for a much less sum of money than you would yourself earn in the meantime. I have often known people make or mend little pieces of furniture, implements of their occupations, &c. to save expense, when they could have earned, at their labor during the same time, twice the sum necessary to pay a trusty and excellent workman for doing it.

But, as I have already observed, persons are not always at hand, in whom you can confide; so that the certainty of having a thing done right, is worth much more than the loss of a little time. Besides, God has never said how much we must do in this world. We are indeed to do all we can, and at the same time do it well; but how much that is, we must judge. He is not necessarily the most useful man who does even the greatest amount of good;—but he who does the most good, attended with the least evil.

But we should remember that what others do, is not done by ourselves. Still, an individual may often do many little things without any hindrance to his main object. For example, I would not thank a person to make or mend my pen, or shave me; because I can write as much, or perform as much business of any kind, in a week or month—probably more—if I stop to mend my pens, shave myself daily, make fires, saw and split wood, &c. as if I do not. And the same is true of a thousand other things.

Section VIII. Over Trading.

I have already classed this among the frauds into which business men are in danger of falling; and I cannot but think its character will be pretty well established by what follows.

Over trading is an error into which many industrious, and active young men are apt to run, from a desire of getting rich more rapidly than they are able to do with a smaller business. And yet profusion itself is not more dangerous. Indeed, I question whether idleness brings more people to ruin than over trading.

This subject is intimately connected with credit, for it is the credit system that gives such facilities to over trading. But of the evils of credit I have treated fully elsewhere I will only add, under this head, a few remarks on one particular species of trading. I refer to the conduct of many persons, with large capitals, who, for the sake of adding to a heap already too large, monopolize the market,—or trade for a profit which they know dealers of smaller fortunes cannot possibly live by. If such men really think that raising themselves on the ruin of others, in this manner, is justifiable, and that riches obtained in this manner are fairly earned, they must certainly have either neglected to inform themselves, or stifled the remonstrances of conscience, and bid defiance to the laws of God.

Section IX. Making Contracts beforehand.

In making bargains—with workmen, for example—always do it beforehand, and never suffer the matter to be deferred by their saying they will leave it to your discretion.

There are several reasons why this ought to be done. 1st. It prevents any difficulty afterward; and does no harm, even when the intentions of both parties are perfectly good. 2d. If you are dealing with a knave, it prevents him from accomplishing any evil designs he may have upon you. 3d. Young people are apt to be deceived by appearances, both from a credulity common to their youth and inexperience, and because neither the young nor the old have any certain method of knowing human character by externals. The most open hearted are the most liable to be imposed upon by the designing.