is circulars to a number of manufactories at the East, announcing
the fact of his having opened a new commission house, and soliciting
consignments. His next move was, to leave his boarding-house, where he
had been paying four dollars a week, and take lodgings at a hotel at
seven dollars a week.

Notwithstanding Jacob went regularly to the post-office twice every
day, few letters came to hand, and but few of them contained bills of
lading and invoices. The result of the first year's business was an
income from commission on sales of seven hundred dollars. Against this
were the items of one thousand dollars for personal expenses, five
hundred dollars for store-rent, seven hundred dollars for clerk and
porter, and for petty and contingent expenses two hundred dollars;
leaving the uncomfortable deficit of seventeen hundred dollars, which
stood against him in the form of bills payable for sales effected, and
small notes of accommodation borrowed from his friends.

The result of the first year's business of his old employer's nephew
was very different. The gross profits were three thousand dollars, and
the expenses as follows: personal expense, seven hundred dollars--just
what the young man's salary had previously been, and out of which he
supported his mother and her family--store rent, three hundred dollars;
porter, two hundred and fifty; petty expenses, one hundred dollars--in
all thirteen hundred and fifty dollars, leaving a net profit of sixteen
hundred and fifty dollars. It will be seen that he did not go to the
expense of a clerk during the first year. He preferred working a little
harder, and keeping his own books, by which an important saving was
effected.

At the end of the second year, notwithstanding Jacob Jones's business
more than doubled itself, he was compelled to wind up, and found
himself twenty-five hundred dollars worse than nothing. Several of his
unpaid bills to eastern houses were placed in suit, and as he lived in
a state where imprisonment for debt still existed, he was compelled to
go through the forms required by the insolvent laws, to keep clear of
durance vile.

At the very period when he was driven under by adverse gales, his young
friend, who had gone into business about the same time, found himself
under the necessity of employing a clerk. He offered Jones a salary of
four hundred dollars, the most he believed himself yet justified in
paying. This was accepted, and Jacob found himself once