CHAPTER XVI OF THE TRADESMAN'S ENTERING INTO PARTNERSHIP IN TRADE, AND THE MANY DANGERS ATTENDING IT
If the partner were not an apprentice, but that they either came out of their times together, or near it, or had a shop and business before, but quitted it to come in, it may then be said that he brought part of the trade with him, and so increased the trade when he joined with the other in proportion to what he may be said to carry away when he went off; this is the best thing that can be said of a partnership; and then I have this to add, first, that the tradesman who took the partner in has a fair field, indeed, to act in with his partner, and must take care, by his constant attendance, due acquaintance with the customers, and appearing in every part of the business, to maintain not his interest only, but the appearance of his interest, in the shop or warehouse, that he may, on every occasion, and to every customer, not only be, but be known to be, the master and head of the business; and that the other is at best but a partner, and not a chief partner, as, in case of his absence and negligence, will presently be suggested; for he that chiefly appears will be always chief partner in the eye of the customers, whatever he is in the substance of the thing.
This, indeed, is much the same case with what is said before of a diligent servant, and a negligent master, and therefore I forbear to enlarge upon it; but it is so important in both cases, that indeed it cannot well be mentioned too often: the master's full application, in his own person, is the only answer to both. He that takes a partner only to ease him of the toil of his business, that he may take his pleasure, and leave the drudgery, as they call it, to the partner, should take care not to do it till about seven years before he resolves to leave off trade, that, at the end of the partnership, he may be satisfied to give up the trade to his partner, or see him run away with it, and not trouble himself about it.
But if he takes a partner at his beginning, with an intent, by their joint enlarged stock, to enlarge their business, and so carry on a capital trade, which perhaps neither of them were able to do by themselves, and which is the only justifiable reason for taking a partner at all, he must resolve then to join with his partner, not only in stock, but in mutual diligence and application, that the trade may flourish by their joint assistance and constant labour, as two oxen yoked together in the same draught, by their joint assistance, draw much more than double what they could either of them draw by their single strength; and this, indeed, is the only safe circumstance of a partnership: then, indeed, they are properly partners when they are assistants to one another, whereas otherwise they are like two gamesters striving to worm one another out, and to get the mastery in the play they are engaged in.
The very word partner imports the substance of the thing, and they are, as such, engaged to a mutual application, or they are no more partners, but rather one is the trading gentleman, and the other is the trading drudge; but even then, let them depend, the drudge will carry away the trade, and the profit too, at last. And this is the way how one partner may honestly ruin another, and for ought I know it is the only one: for it cannot be said but that the diligent partner acts honestly in acting diligently, and if the other did the same, they would both thrive alike; but if one is negligent and the other diligent, one extravagant and expensive, the other frugal and prudent, it cannot be said to be his fault that one is rich and the other poor--that one increases in the stock, and the other is lessened, and at last worked quite out of it.