There are many reasons to be given for this, besides that of having the greater share of profits, for that I do not give as a reason here at all; but the principal reasons are these:--First, in case of any disaster in any of the particular supposed accidents which I have mentioned, and that you should be obliged to pay out your partner's stock, it will not be so heavy, or be so much a blow to you: and, secondly, you preserve to yourself the governing influence in your own business; you cannot be overruled, overawed, or dogmatically told, it shall, or shall not, be thus, or thus.

He that takes in a partner for a third, has a partner servant; he that takes him in for a half, has a partner master--that is to say, a director, or preceptor: let your partner have always a lesser interest in the business than yourself, and be rather less acquainted with the business than yourself, at least not better.

You should rather have a partner to be instructed, than a partner to instruct you; for he that teaches you, will always taunt you.
3.

If you must have a partner, let him always be your junior, rather than your senior; by this I mean, your junior in business, whether he is so in years or not.

There are many reasons why the tradesman should choose this, and particularly the same as the other of taking him in for a junior or inferior part of the trade--that is to say, to maintain the superiority of the business in his own hands; and this I mention, not at all upon account of the pride or vanity of the superiority, for that is a trifle compared to the rest; but that he may have the more authority to inspect the conduct of his partner, in which he is so much and so essentially concerned; and to inquire whether he is doing any thing, or taking any measures, dangerous or prejudicial to the stock, or to the credit of the partnership, that so if he finds any thing, he may restrain him, and prevent in time the mischief which would otherwise be inevitable to them both.
There are many other advantages to a tradesman who is obliged to take a partner, by keeping in his own hands the major part of the trade, which are too long to repeat here; such as his being always able to put a check to any rash adventure, any launching out into bubbles and projects, and things dangerous to the business: and this is a very needful thing in a partnership, that one partner should be able to correct the rash resolves of another in hazardous cases.
By this correcting of rash measures, I mean over-ruling them with moderation and temper, for the good of the whole, and for their mutual advantage.