for
himself, his principal capital being his reputation and acknowledged
ability. He developed a system in his business; he paid every bill on
the spot; if he could not pay cash, instead of the regular custom of
book accounts, he gave his note, thus no complications could arise to
embarrass him. He knew when the money was expected on every bill, and
made his calculation, and was never known to be taken by surprise. He
was reasonably cautious--he never would promise to do what he might
possibly be unable to accomplish. He prospered--of course he would. Such
business principles, pushed by system as Lawrence pushed them, must
bring success to any young man.

Another thing, to any one who may now imagine he, perhaps, entered
business on the tide of prosperity, we desire simply to say, on the
contrary, from 1808 to 1815 was one of the dullest periods our
mercantile history can recount. No, "luck" did not favor him, but
"pluck" did. He pushed his mercantile business for years, amassing an
immense fortune. Our country was then new, and he had to import most of
his merchandise from England, but as he ever made a study of his
business, concluded that he would start manufacturing industries here,
which would prove not only profitable to himself, but of inestimable
value to us as a nation. In accordance with these motives, he was
largely instrumental in connection with the Lowells in building up the
flourishing cities of Lowell and Lawrence.

He never speculated in stocks. Young men, there is no money in stocks to
the average man. Not even in legitimate stock dealing, to say nothing of
the numerous watered concerns. We were looking over a paper recently
when our attention was attracted to a paragraph which explained that in
a transaction which involved 8,000 bushels of wheat, it was found that
the odds against the buyer was over 22 per cent. While wheat is not
stocks, still a good rule would be never to go into anything unless the
chances are at least equal.

Amos Lawrence once said: "Young man, base all your actions upon a sense
of right, and in doing so, never reckon the cost." What a glorious
principle for any young man--a principle he would find hard to follow in
many stock speculations. "Even exchange is no robbery." It is not even
exchange to bet and take a man's money; and it makes little difference
whether you bet on a horse's gait or the grain he will eat next month.
At another time he said: "Good principles, good tem