The evils of running in debt will be adverted to elsewhere. I mention the subject in this place, because the earlier you commence business, the greater the necessity of resorting to credit. You may, indeed, in some employments, begin on a very small scale; but this is attended with serious disadvantages, especially at the present day, when you must meet with so much competition. Perhaps a few may be furnished with capital by their friends, or by inheritance. In the latter case they may as well _use_ their money, if they receive it; but I have already endeavored to show that it is generally for the interest of young men to rely upon their own exertions. It is extremely difficult for a person who has ever relied on others, to act with the same energy as those who have been thrown upon their own resources.[4] To learn the art of inheriting property or receiving large gifts, and of acting with the same energy as if left wholly to our own resources, must be reserved, I believe, for future and wiser generations of our race. I repeat it, therefore, every person had better defer going into business for himself, until he can stand entirely on his own footing. Is it asked how he can have funds from his own resources, before he has actually _commenced_ business for himself? Why the thing is perfectly easy. He has only to labor a few years in the service of another. True it is, he may receive but moderate wages during this time; but on the other hand, he will be subjected to little or no risk. Let 1,000 young men, at the age of 30 years, enter into business with a given amount of capital, all acquired by their own hard earnings, and let them pursue their business 30 years faithfully; that is, till they are 60 years of age. Let 1,000 others commence at the age of 20, with three times the amount of capital possessed by the former, but at the same time either inherited, or loaned by their friends, and let them pursue their calling till _they_ are 60 years of age; or for a period of 40 years. We will suppose the natural talents, capacity for doing business, and expenditures--in fact every thing,--the same, in both cases. Now it requires no gift of prophecy to foretell, with certainty, that at 60 years of age a far greater proportion of the 1,000, who began at 30 and depended solely on their own exertions, will be men of wealth, than of those who began at 20 with three times their capital. The reason of these results is found in the very nature of things, as I have shown both above, and in my remarks on industry.