Thorstein Veblen - Achieving Prosperity - Ultimate Collection

I mention this industry the more particularly and the more freely, tho' it seems to be talking in my own praise, that those of my posterity, who shall read it, may know the use of that virtue, when they see its effects in my favour throughout this relation.

George Webb, who had found a female friend that lent him wherewith to purchase his time of Keimer, now came to offer himself as a journeyman to us. We could not then imploy him; but I foolishly let him know as a secret that I soon intended to begin a newspaper, and might then have work for him. My hopes of success, as I told him, were founded on this, that the then only newspaper, printed by Bradford, was a paltry thing, wretchedly manag'd, no way entertaining, and yet was profitable to him; I therefore thought a good paper would scarcely fail of good encouragement. I requested Webb not to mention it; but he told it to Keimer, who immediately, to be beforehand with me, published proposals for printing one himself, on which Webb was to be employ'd. I resented this; and, to counteract them, as I could not yet begin our paper, I wrote several pieces of entertainment for Bradford's paper, under the title of the Busy Body, which Breintnal continu'd some months. By this means the attention of the publick was fixed on that paper, and Keimer's proposals, which we burlesqu'd and ridicul'd, were disregarded. He began his paper, however, and, after carrying it on three quarters of a year, with at most only ninety subscribers, he offered it to me for a trifle; and I, having been ready some time to go on with it, took it in hand directly; and it prov'd in a few years extremely profitable to me.

I perceive that I am apt to speak in the singular number, though our partnership still continu'd; the reason may be that, in fact, the whole management of the business lay upon me. Meredith was no compositor, a poor pressman, and seldom sober. My friends lamented my connection with him, but I was to make the best of it.

Our first papers made a quite different appearance from any before in the province; a better type, and better printed; but some spirited remarks of my writing, on the dispute then going on between Governor Burnet and the Massachusetts Assembly, struck the principal people, occasioned the paper and the manager of it to be much talk'd of, and in a few weeks brought them all to be our subscribers.

Their example was follow'd by many, and our number went on growing continually. This was one of the first good effects of my having learnt a little to scribble; another was, that the leading men, seeing a newspaper now in the hands of one who could also handle a pen, thought it convenient to oblige and encourage me. Bradford still printed the votes, and laws, and other publick business. He had printed an address of the House to the governor, in a coarse, blundering manner, we reprinted it elegantly and correctly, and sent one to every member. They were sensible of the difference: it strengthened the hands of our friends in the House, and they voted us their printers for the year ensuing.

Among my friends in the House I must not forget Mr. Hamilton, before mentioned, who was then returned from England, and had a seat in it. He interested himself for me strongly in that instance, as he did in many others afterward, continuing his patronage till his death. 8

Mr. Vernon, about this time, put me in mind of the debt I ow'd him, but did not press me. I wrote him an ingenuous letter of acknowledgment, crav'd his forbearance a little longer, which he allow'd me, and as soon as I was able, I paid the principal with interest, and many thanks; so that erratum was in some degree corrected.

But now another difficulty came upon me which I had never the least reason to expect. Mr. Meredith's father, who was to have paid for our printing-house, according to the expectations given me, was able to advance only one hundred pounds currency, which had been paid; and a hundred more was due to the merchant, who grew impatient, and su'd us all. We gave bail, but saw that, if the money could not be rais'd in time, the suit must soon come to a judgment and execution, and our hopeful prospects must, with us, be ruined, as the press and letters must be sold for payment, perhaps at half price.

In this distress two true friends, whose kindness I have never forgotten, nor ever shall forget while I can remember any thing, came to me separately, unknown to each other, and, without any application from me, offering each of them to advance me all the money that should be necessary to enable me to take the whole business upon myself, if that should be practicable; but they did not like my continuing the partnership with Meredith, who, as they said, was often seen drunk in the streets, and playing at low games in alehouses, much to our discredit. These two friends were William Coleman and Robert Grace. I told them I could not propose a separation while any prospect remain'd of the Merediths' fulfilling their part of our agreement, because I thought myself under great obligations to them for what they had done, and would do if they could; but, if they finally fail'd in their performance, and our partnership must be dissolv'd, I should then think myself at liberty to accept the assistance of my friends.

Thus the matter rested for some time, when I said to my partner, "Perhaps your father is dissatisfied at the part you have undertaken in this affair of ours, and is unwilling to advance for you and me what he would for you alone. If that is the case, tell me, and I will resign the whole to you, and go about my business." "No," said he, "my father has really been disappointed, and is really unable; and I am unwilling to distress him farther. I see this is a business I am not fit for. I was bred a farmer, and it was a folly in me to come to town, and put myself, at thirty years of age, an apprentice to learn a new trade. Many of our Welsh people are going to settle in North Carolina, where land is cheap. I am inclin'd to go with them, and follow my old employment. You may find friends to assist you. If you will take the debts of the company upon you; return to my father the hundred pound he has advanced; pay my little personal debts, and give me thirty pounds and a new saddle, I will relinquish the partnership, and leave the whole in your hands." I agreed to this proposal: it was drawn up in writing, sign'd, and seal'd immediately. I gave him what he demanded, and he went soon after to Carolina, from whence he sent me next year two long letters, containing the best account that had been given of that country, the climate, the soil, husbandry, etc., for in those matters he was very judicious. I printed them in the papers, and they gave great satisfaction to the publick.

As soon as he was gone, I recurr'd to my two friends; and because I would not give an unkind preference to either, I took half of what each had offered and I wanted of one, and half of the other; paid off the company's debts, and went on with the business in my own name, advertising that the partnership was dissolved. I think this was in or about the year 1729.

About this time there was a cry among the people for more paper money, only fifteen thousand pounds being extant in the province, and that soon to be sunk. The wealthy inhabitants oppos'd any addition, being against all paper currency, from an apprehension that it would depreciate, as it had done in New England, to the prejudice of all creditors. We had discuss'd this point in our Junto, where I was on the side of an addition, being persuaded that the first small sum struck in 1723 had done much good by increasing the trade, employment, and number of inhabitants in the province, since I now saw all the old houses inhabited, and many new ones building: whereas I remembered well, that when I first walk'd about the streets of Philadelphia, eating my roll, I saw most of the houses in Walnut-street, between Second and Front streets, with bills on their doors, "To be let"; and many likewise in Chestnut-street and other streets, which made me then think the inhabitants of the city were deserting it one after another.