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Editorial
July 31, 1788
The New Hampshire Gazette And General Advertiser
Portsmouth, Rockingham County, New Hampshire
What is this article about?
An editorial reflection on observing a young bankrupt tradesman's auction sale, critiquing his extravagant purchases and using it as a moral lesson on the dangers of luxury, imprudence, and the need for strict economy in business, especially for those with families.
Merged-components note: Continuation of essay on reflections and moral lessons from bankruptcy auctions across pages
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REFLECTIONS.
I HAVE just come from viewing
the effects of a bankrupt which
are now upon sale ; one who has
not been in business above two
years. The particular business
was, like almost all business to a
young man, of a very precarious
nature, requiring strict economy.
and rigid attention. The furni-
ture was of the most elegant kind,
and all new; much plate, and of the most superfluous kind, but being also new, of course cost the owner twice as much as he can sell it for now; elegant prints, pictures and every article of luxury; some or all of which may become the man who is retiring from business with an ample fortune, but for one entering into life, what was it short of madness to have laid out money for such unnecessary, though fashionable, furniture?
Most men read the advertisements of auctioneers with the utmost indifference, and consider only whether there is any article they want, thinking no further of the matter. To me, to read those advertisements, it suggests a moral lesson of the highest importance. The auctioneer's hammer, like the stroke of death, shows the vanity of all human luxuries and superfluities; and every sale may be considered as a memento to those who have as yet escaped the mortifying state of bankruptcy. It seems to say, "Let him that standeth, take heed lest he fall;" and viewing these advertisements in this light, I have often drawn observations and remarks from which I think contribute to a moral purpose. If they do not show how we ought to live, they at least show what the unavoidable consequences of imprudence and extravagance are, when practised by tradesmen, and by men who have families to support.
Choice wines is one very common article in sales. To be choice in one's wines, when we can afford to purchase them, is, no doubt, the greatest proof of wisdom; for who would not be so? But, when the price of our wines exceeds the profits of our trade, our choice will be of little avail at the long run. It is better to be choice in the election of our customers and friends; choice in the keeping of our books. And however agreeable it may be to have old wine, let us take great care of old debts: The one meliorates by keeping: the latter grow worse.
I HAVE just come from viewing
the effects of a bankrupt which
are now upon sale ; one who has
not been in business above two
years. The particular business
was, like almost all business to a
young man, of a very precarious
nature, requiring strict economy.
and rigid attention. The furni-
ture was of the most elegant kind,
and all new; much plate, and of the most superfluous kind, but being also new, of course cost the owner twice as much as he can sell it for now; elegant prints, pictures and every article of luxury; some or all of which may become the man who is retiring from business with an ample fortune, but for one entering into life, what was it short of madness to have laid out money for such unnecessary, though fashionable, furniture?
Most men read the advertisements of auctioneers with the utmost indifference, and consider only whether there is any article they want, thinking no further of the matter. To me, to read those advertisements, it suggests a moral lesson of the highest importance. The auctioneer's hammer, like the stroke of death, shows the vanity of all human luxuries and superfluities; and every sale may be considered as a memento to those who have as yet escaped the mortifying state of bankruptcy. It seems to say, "Let him that standeth, take heed lest he fall;" and viewing these advertisements in this light, I have often drawn observations and remarks from which I think contribute to a moral purpose. If they do not show how we ought to live, they at least show what the unavoidable consequences of imprudence and extravagance are, when practised by tradesmen, and by men who have families to support.
Choice wines is one very common article in sales. To be choice in one's wines, when we can afford to purchase them, is, no doubt, the greatest proof of wisdom; for who would not be so? But, when the price of our wines exceeds the profits of our trade, our choice will be of little avail at the long run. It is better to be choice in the election of our customers and friends; choice in the keeping of our books. And however agreeable it may be to have old wine, let us take great care of old debts: The one meliorates by keeping: the latter grow worse.
What sub-type of article is it?
Moral Or Religious
Social Reform
What keywords are associated?
Bankruptcy
Extravagance
Moral Lessons
Tradesmen
Economy
Prudence
Luxury
Auction Sales
Editorial Details
Primary Topic
Moral Lessons From Bankruptcy And Extravagance In Business
Stance / Tone
Moral Exhortation Against Imprudence And Luxury
Key Arguments
Extravagant Purchases Like Elegant Furniture And Plate Are Madness For Young Tradesmen Starting Out.
Auction Sales Serve As Moral Reminders Of The Vanity Of Human Luxuries And The Consequences Of Imprudence.
"Let Him That Standeth Take Heed Lest He Fall" Applies To Avoiding Bankruptcy.
Imprudence And Extravagance Lead To Unavoidable Ruin For Tradesmen Supporting Families.
Prioritize Choosing Customers, Friends, And Keeping Books Over Fine Wines.
Old Debts Worsen Over Time, Unlike Old Wine Which Improves.