Chambers's Edinburgh Journal, No. 429: Volume 17, New Series, March 20, 1852 — John Shaqi
Chambers's Edinburgh Journal, No. 429: Volume 17, New Series, March 20, 1852Various
History
Chambers's Edinburgh Journal, No. 429: Volume 17, New Series, March 20, 1852
Various
Periodicals
Having made a lucky purchase of butter, Samuel went amongst traders of
his own kind for orders, and at first met with little but contempt. He
persevered, nevertheless, and in a little time made his way. By little
and little his house, of which he became a partner, acquired a
footing, and began to be talked of as a kind of prodigy for a village.
The leading principle followed, was to do business entirely by
ready-money, in buying as in selling. A wonder may be felt how Mr
Budgett contrived, with no advantage of capital at starting, to act
upon this rule. The plan is simple, and may be easily followed. Let
the transactions be in a proper proportion to the means. It looks a
slow plan; but, in reality, by securing an exemption from pecuniary
embarrassment, it allows a business, other circumstances being equal,
to go on faster than might otherwise be the case. Mr Budgett could
accept small profits on his ready-money transactions, and by their
frequency, outstrip heavier-pursed but also heavier-minded men.
The leading maxims of Samuel Budgett in business were--_Tact_, _Push_,
and _Principle_. In the two former, he was a great genius, and much he
no doubt was indebted to them. Yet we are inclined to think that
Principle had the chief hand in his success. He was entirely a just
man. He would rebuke a young salesman more severely for a slight
inequality in his weighing-scales against the public, than for a
neglect of his duty. It was a custom of grocers to mix up pepper with
an article called P.D. Mr Budgett long kept a cask of P.D.; but at
length, reflecting seriously on it one evening, he went to the shop,
re-opened it, took out the hypocritical cask to a neighbouring quarry,
and there staved it, scattering the P.D. amongst the clods, and slags,
and stones; after which he returned with a light heart to bed. There
was also a benevolence at the bottom of all Mr Budgett's proceedings
as a man of business. It appeared strongly in his relations to his
subalterns and working-people. Though a strict disciplinarian, and not
to be imposed upon in anything, he was so humane and liberal towards
all around him, that they served him as much from love as duty. He has
discharged men for misconduct or disloyalty, and afterwards pensioned
their families till they got other employment. His liberality in
supporting charitable institutions, and relieving private cases of
distress, knew hardly any bounds; but, at a fair computation, it has
been estimated at about L.2000 a year.
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