In the beginning of the year 1856 I commenced business on my own account, as a merchant in a Northern City. Previous to that time I had been engaged in an unsuccessful partnership, but I paid my creditors in full with the small capital advanced to me by my friends for the purpose of my new adventure. When I began operations, therefore, I was literally without a shilling in the world, but I had a spotless character, enjoyed good credit, and possessed a thorough knowledge of my business; advantages which I easily persuaded myself would enable me to succeed without the actual possession of capital.—My business connections were scattered over various parts of the world, and generally ranked among the very best class of foreign merchants. I usually received orders by letter, sometimes I gave open credits to houses whose orders I could not otherwise secure, but frequently I had remittances long before the merchandise could arrive at its destination.
