Nothing was certain. The events of a single hour might undo the labor of
years, and baffle the best laid plans. Yet he persevered, and went
steadily on to fortune. He was remarkable for his keen foresight, as
well as for his prudence, and was always on the alert to profit by the
fluctuations of the market. Yet he abominated speculation. He averred
that speculation made men desperate and unfit for legitimate business,
and that it led them, when under excitement, to the commission of acts
against which their cooler judgment would have warned them. The fair
profits of legitimate business were, in his opinion, sure to reward any
honest and capable man. His aim was to elevate commerce, and not to
degrade it. He introduced into Boston the system of double-entry in
book-keeping, in advance of any other city merchant. He was prompt and
faithful in the performance of every contract, and required a similar
course toward himself from all indebted to him, as long as they were
able to do so. When they became unfortunate, he was kind and generous,
ready to compromise upon the most liberal terms, or to give them their
own time for payment; and it is recorded of him that he never dealt
harshly with a debtor who had failed in business.
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