between the different ranks of those employed in the production and exchange of goods, and intimates that his advice is not intended for the highest grade of traders, the merchants, whom he defines by what he calls the vulgar expression, as being "such as trade beyond sea." Although he was eloquent in many books and pamphlets in upholding the dignity of trade, and lost no opportunity of scoffing at pretentious gentility, he never allows us to forget that this was the grade to which he himself belonged, and addresses the petty trader from a certain altitude. He speaks in the preface to the _Complete Tradesman_ of unfortunate creatures who have blown themselves up in trade, whether "for want of wit or from too much wit;" but lest he should be supposed to allude to his own misfortunes, he does not say that he miscarried himself, but that he "had seen in a few years' experience many young tradesmen miscarry." At the same time it is fair to conjecture that when Defoe warns the young tradesman against fancying himself a politician or a man of letters, running off to the coffee-house when he ought to be behind the counter, and reading Virgil and Horace when he should be busy over his journal and his ledger, he was glancing at some of the causes which conduced to his own failure as a merchant. And when he cautions the beginner against going too fast, and holds up to him as a type and exemplar the carrier's waggon, which "keeps wagging and always goes on," and "as softly as it goes" can yet in time go far, we may be sure that he was thinking of the over-rashness with which he had himself embarked in speculation.