Friday, 20 August, 1830

I have seen a man today who is poor and yet he now lives in great style on the industry and credit of others. This we should never do. He boasts and tells how much money he has and how much he makes. He is a dealer in slaves on a borrowed capital. His own credit would not obtain fifty dollars. No man going on in the way this man does can continue long and then his securities will suffer. Never, without a moral certainty of profit, engage in speculation on a borrowed capital, nor on your own. And never go a man's security who has no property and does not vest his money in real estate and give you a right to that estate.