New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-10-24


rsHsps. The bnssnce sfthS small aeseure siii per
AaIs be fit Aross bsa, esrsratissA II Va net lees
hvusbIe ss n,ssf than on oAer-
M Lawrence had early formed, in the manage
nept Of bic sfsirs certain principles, to which be
risiely adhered TIL the close Of life. Be whites:
] s6optea the plan OF keeping an secsrste account
Of merchandise D., ugbt AID sold es Gay, with tbe
pIoft a. far as practicable This p an ~ss pursued
for g lumber Of years; ard / never foasd my mer-
et st6ne foil sbOrt ia tssieg an seeoaDt o. ttoe !,
which aid as offer at sas; a. oEee 10 eash year.
was thu, enabled 10 form 81 cirio1 OF my actual
safe a. 4 bu,iIess man. adop'ed ALTO the rols a.
-a,s 10 bsve proterty, AFTER my recVnd years bas-
If,s 10 TeTr sent fDty pr cent q. lesst tbaa
owed that H. never TO be in debt ths1 10 aod
at times NY cap tai. This caution save1 me from
ever setag embarrassed. Ii Il were more geSe all
acoyed, Ne sh9nld See fewer failures 1, busnes-.
Exec ssye creGit s The rock which % msny basess
men aie broken.
When eomr enced, the erbar.o hsd jug, been
laid aid with ,uch rest lotions 90 trade that any
were induced 10 leave H. But felt great conf -erce,
that by ndustry, economy, AZ 10 esrity could get
ivu aDo the Ell erlneCi showtd ha' was rishf.
Most Of be your men ~ho menced a. that per od
faec by speIoing too much money, ard using credit
too feey.
la de about fifteen hundred dollars the fret wear
emo n ore then four ousand the second. Probably,
RAD Inace four hOusaoa the fTs' year, should have
failed tie second or third year. practlced system
.f RE 10 economy ard never allowed Nj, self 70 sceni
'ourpeuce for pnuecesssry objects uni 1 had &C
quUtd it.
in October, 15Cs, hr Lawrence received his
brother Abbott ss an apprentice, the future mil
liopsre making his debut in commercial life with
three dollars in his pocket and his wardrobe tied
up in baIdans handkerchief
Few details Of Mr Lawrences business life from
this date until 1915 have been preserved. 1t is only
known that through the difficult period of the com
mercia restrictions aud the with Great Britain,
bis operations were crowned With eminent success.
In 1e49 be writes as follows
On the lst of January, 1914 took my brother
Abbot pto pa -tpe rsbp equal shares pltti1g fifty
boussLd dollars ihst had then earned into the con-
celp. ibr,e DAYS sfterwsrd, the . rambie News
came By which lie excessive high price Of GOODS vas
tnocktd dowo. Our sock was then lsrge, and b I'd
cost high (rice. lie in great angush ,ns Ter
ing himself bar krnpt for a. least tivs tho sanf dol
laIs cl etIed him by Off rr to cancel our copart-
Ierssip ipceB 81, We bin Up his note AID at the
erd Of the yesr pay him five thousand dollars He
do cinsd the offer saying should lose that aud
b. side and az be hsd eusied, would do TIE best he
could. This was in character AID l. was well fJr US
both He wss called off to DUTY as soldier through
most Of the year 10 k care OF the business, and
prepMec 10 re'rest With my family inc the couotry
whtney er the town seemed liable 10 fall mo he bands
of the Briisb who were very thes ening 10 th7ir dem
oI.trsiions. We i'll continue msrcan lie business
nnder n fret get Of jrdentures and under the
firm, nertl, aiding :" & Co." as new par ners have
BIZ tn admitted.
A gentleman, now prominent merchant in New
York, who was a clerk with Mr.. Lawrence at this
time, says of him:
Wien the busifess season over be would Sir
down with me- and converse freely ard fam'liarly and
would have me hing interesting and useful to say.
us, to erjoy these sit.ings; and, white al ways
ftaed TO do anything, or leave anything undone,
which would dispesse him, l at the same time I'd
very his ny arc, and ! may say love- for him,
as never felt for any Other beside my yn f.
tber. He bad remarkable faculty Of bringing the
SIZZLING II oDey into our curt ncY, with any advance,
BY calcua ION 10 his mind and would give The re.
suit with great accuracy in quarter Of the time
which it took 10 do IL by figures. l used 10 Try
bsid 10 acquire his faculty, but could not and never
saw sny person who possessed it 10 The degrees
lie did H,s mind was remarkably vigorous end ac-
cuIate ard consequently his business trsnsacled
in prompt ard correct manner. Nothing was left
uDC one umTt tomorrow which could be done to-day.
He vac master OF and controlled his business, instead
Of allowing his Lusness 10 master aud control him.
Vh,n took charge Of the books they we're kept by
single entry; and Mr. Lawrence dsily examined every
entry 10 dett cf errors. He was dssatisfed with this
Loose way Of keet ing the books; and st his request
studied book keeping by ooubie entry with Mr.. Ger
~ ON Cobb VITO had just lntroc uced the nev aud
shIttr method of ooubie entry then transferred
the accounts no new get OF books on tits pla1 and
well remember his aoxety during the process, and his
expression Of delight when the work was completed,
81 bad succeeded 10 making the fret trisl balance
come right. This WAS the frs set of book opened
In Boston on the new system. While Mr.. Lawrence
required all TO fulfill their engagements fully and
promptly, 90 long they were able to do So he was
leuieDt to those who were unfortunate, and always
rec dy 20 compromise demands against SUCH No case
occurred While was with him, in which thought
he de alt hsrshly with debtor ho had failed in busi
Dess.
For the several following years Mr. Lawrence
was engaged in an extensive and highly prosperous
business. The firm of which he was the senior
PARTNER became interested in manufactures, and
contributed greatly to their successful establish
ment in this country. He was one Of the earliest
and most decided advocates Of the protection of
American industry, regarding the British system
Of free trade, however plausible in theory o. pre-
judicial to the true interests Of our own people.
He tested the sincerity of his views by embarking
large portion of his property in this new branch
of industry, and to the last cherished the belief
that the climate the soil and the habits Of the peo-
pie rendered domestic manufactures one of the
most important and permanent interests OF New
England Daring seasons of high political eI-
citement and sectional strife he wrote to vsriou,
friends ct the South, urging them to discard all To-
cal prejudices and to enter with the North
into manly competition in all those branches
of domestic industry which would tend not
only to enrich but also to improve the moral
and intellectual character of their people. He
watched with increasing interest the progress of
DWELL and other manufacturing districts, and was
ever ready to lend helping hand to any scheme
which tended to advance their welfare. Churches,
Chr.r;aa i, thaaa ~,