Having within the last few weeks received a very handsome legacy, I am thinking of endeavouring to increase it by going into business. For some years, you are aware, I was with Messrs. Piper and Co., and I imagine I might derive benefit from their connexion. I am well convinced, from your practical knowledge, you will give me such information as will prevent my getting into difficulties. I presume I must be cautious, in starting in business, not to sink too much of my funds in a large stock at first, as there may be a doubt that the return would not be sufficiently speedy to cover my outlay, and consequently I should be obliged to draw upon my capital for household expenses. There is another point on which I wish your advice, and that is as to the locality in which I should take a business. Do you recommend a new neighbourhood, or not? Will you also give me some hints as to the sort of connexion I should endeavour to obtain? and doubtless you will oblige me in giving me a few general directions as to the best mode of succeeding in my undertaking. I remain, Dear Sir, Yours respectfully, D. T----. ---- _Reply to Young Man intending to go into Business._ Tarnham, May 4th, 187-- DEAR MR. THOMAS, I was glad to receive your letter, and glad to find you have confided in your father's old friend for advice, under the circumstance of your starting in business. You do not tell me the amount of your capital; but whether large or small, the same rule should be adopted;--you must be very careful in the matter of investing your money, for without great precaution and judgment you may be a considerable loser. Do not lay in too large a stock. Should trade prove slack, the rent and taxes of your premises must be paid; the stock lies idle and deteriorates in value; and when once you dip into your capital there will be little prospect of your recovering yourself again.