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The Pamphlet Collection of Sir Robert Stout: Volume 37

Eastern Commercial Simplicity

Eastern Commercial Simplicity.

The extreme simplicity of commerce, from the absence of all legislation on the subject, is visible in the establishment page 25 of a merchant: no books, save one of common entry, are kept; no credits (the ports of the Levant are not alluded to) are given; no bills discounted, no bonds nor even receipts, the transactions being all for ready money; no fictitious capital is created; no risk or loss from bankruptcy to incur, A merchant whose capital may exceed twenty thousand pounds will very possibly be without a clerk; and a small box, which he places on his carpet and leans his elbow on, incloses at once his bank and counting house.

A Tunisian Envoy jays of our commercial system.—"I admire. I am filled with astonishment at the individual instruction and intelligence spread through every class of the population—at the perfection of your industry—at your useful works and scientific inventions—at the discipline of your troops—at the subordination of your civil officers, and at the strict execution of your laws; but—cannot you raise your revenue without embarrassing your commerce?"