If any man goes to the neighbours or dealers of a tradesman to inquire of his credit, or his fame in business, which is often done upon almost every extraordinary occasion, the first question is, 'How does he pay his bills ?' As when we go to a master or mistress to inquire the character of a maid-servant, one of the first questions generally is of her probity, 'Is she honest ?' so here, if you would be able to judge of the man, your first question is, 'What for a paymaster is he?
How does he pay his bills ?'--strongly intimating, and, indeed, very reasonably, that if he has any credit, or any regard to his credit, he will be sure to pay his bills well; and if he does not pay his bills well, he cannot be sound at bottom, because he would never suffer a slur there, if it were possible for him to avoid it.

On the other hand, if a tradesman pays his bills punctually, let whatever other slur be upon his reputation, his credit will hold good.

I knew a man in the city, who upon all occasions of business issued promissory notes, or notes under his hand, at such or such time, and it was for an immense sum of money that he gave out such notes; so that they became frequent in trade, and at length people began to carry them about to discount, which lessened the gentleman so much, though he was really a man of substance, that his bills went at last at twenty per cent, discount or more; and yet this man maintained his credit by this, that though he would always take as much time as he could get in these notes, yet when they came due they were always punctually paid to a day; no man came twice for his money.
This was a trying case, for though upon the multitude of his notes that were out, and by reason of the large discount given upon them, his credit at first suffered exceedingly, and men began to talk very dubiously of him, yet upon the punctual discharge of them when due, it began presently to be taken notice of, and said openly how well he paid his notes; upon which presently the rate of his discount fell, and in a short time all his notes were at _par_; so that punctual payment, in spite of rumour, and of a rumour not so ill grounded as rumours generally are, prevailed and established the credit of the person, who was indeed rich at bottom, but might have found it hard enough to have stood it, if, as his bills had a high discount upon them, they had been ill paid too.

All which confirms what I have hitherto alleged, namely, of how much concern it is for a tradesman to pay his bills and promissory notes very punctually.
I might argue here how much it is his interest to do so, and how it enables him to coin as many bills as he pleases--in short, a man whose notes are currently paid, and the credit of whose bills is established by their being punctually paid, has an infinite advantage in trade; he is a bank to himself; he can buy what bargains he pleases; no advantage in business offers but he can grasp at it, for his notes are current as another man's cash; if he buys at time in the country, he has nothing to do but to order them to draw for the money when it is due, and he gains all the time given in the bills into the bargain.
If he knows what he buys, and how to put it off, he buys a thousand pounds' worth of goods at once, sells them for less time than he buys at, and pays them with their own money.

I might swell this discourse to a volume by itself, to set out the particular profit that such a man may make of his credit, and how he can raise what sums he will, by buying goods, and by ordering the people whom he is to pay in the country, to draw bills on him.