[The Complete English Tradesman (1839 ed.) by Daniel Defoe]@TWC D-Link book
The Complete English Tradesman (1839 ed.)

CHAPTER XVI
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But there are other dangers in partnership, and those not a few; for you may not only be remiss and negligent, remitting the weight of the business upon him, and depending upon him for its being carried on, by which he makes himself master, and brings you to be forgot in the business; but he may be crafty too, and designing in all this, and when he has thus brought you to be as it were _nobody_, he shall make himself be all _somebody_ in the trade, and in that particular he by degrees gets the capital interest, as well as stock in the trade, while the true original of the shop, who laid the foundation of the whole business, brought a trade to the shop, or brought commissions to the house, and whose the business more particularly is, is secretly supplanted, and with the concurrence of his own negligence--for without that it cannot be--is, as it were, laid aside, and at last quite thrust out.
Thus, whether honest or dishonest, the tradesman is circumvented, and the partnership is made fatal to him; for it was all owing to the partnership the tradesman was diligent before, understood his business, and kept close to it, gave up his time to it, and by employing himself, prevented the indolence which he finds breaking insensibly upon him afterwards, by being made easy, as they call it, in the assistance of a partner.
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But there are abundance of other cases which make a partnership dangerous; for if it be so where the partner is honest and diligent, and where he works into the heart of the business by his industry and application, or by his craft and insinuation, what may it not be if he proves idle and extravagant; and if, instead of working him out, he may be said to play him out of the business, that is to say, prove wild, expensive, and run himself and his partner out by his extravagance?
There are but too many examples of this kind; and here the honest tradesman has the labouring oar indeed; for instead of being assisted by a diligent industrious partner, whom on that account he took into the trade, he proves a loose, extravagant, wild fellow, runs abroad into company, and leaves him (for whose relief he was taken in) to bear the burden of the whole trade, which, perhaps, was too heavy for him before, and if it had not been so, he had not been prevailed with to have taken in a partner at all.
This is, indeed, a terrible disappointment, and is very discouraging, and the more so, because it cannot be recalled; for a partnership is like matrimony, it is almost engaged in for better or for worse, till the years expire; there is no breaking it off, at least, not easily nor fairly, but all the inconveniences which are to be feared will follow and stare in your face: as, first, the partner in the first place draws out all his stock; and this sometimes is a blow fatal enough, for perhaps the partner cannot take the whole trade upon himself, and cannot carry on the trade upon his own stock: if he could, he would not have taken in a partner at all.

This withdrawing the stock has sometimes been very dangerous to a partner; nay, has many times been the overthrow and undoing of him and of the family that is left.
He that takes a partner into his trade on this account--namely, for the support of his stock, to enjoy the assistance of so much cash to carry on the trade, ought seriously to consider what he shall be able to do when the partner, breaking off the partnership, shall carry all his stock, and the improvement of it too, with him: perhaps the tradesman's stock is not much increased, perhaps not at all; nay, perhaps the stock is lessened, instead of being increased, and they have rather gone backward than forward.

What shall the tradesman do in such a case?
And how shall he bear the breach in his stock which that separation would make?
Thus he is either tied down to the partner, or the partner is pinned down to him, for he cannot separate without a breach.

It is a sad truth to many a partner, that when the partnership comes to be finished and expired, the man would let his partner go, but the other cannot go without tearing him all to pieces whom he leaves behind him; and yet the partner being loose, idle, and extravagant, in a word, will ruin both if he stays.
This is the danger of partnership in some of the best circumstances of it; but how hazardous and how fatal is it in other cases! And how many an honest and industrious tradesman has been prevailed with to take in a partner to ease himself in the weight of the business, or on several other accounts, some perhaps reasonable and prudent enough, but has found himself immediately involved in a sea of trouble, is brought into innumerable difficulties, concealed debts, and unknown incumbrances, such as he could no ways extricate himself out of, and so both have been unavoidably ruined together! These cases are so various and so uncertain, that it is not easy to enumerate them: but we may include the particulars in a general or two.
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