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Beyond Penn's Treaty

The Life of Thomas Eddy; Comprising an Extensive Correspondence

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ever had of acquiring a knowledge of commerce,
and the course of mercantile dealing. I knew that
it was out of my power to support myself with what
I then possessed, and that I must soon come to want,
unless I could succeed in business. The first thing
to which my attention was turned, was daily to
attend auctions at the Coffee House, and being sen-
sible of my own ignorance, I endeavoured by every
means in my power to acquire information—care-
fully inquiring of others the names of articles ex-
posed for public sale, as it often happened that I was
not even acquainted with the names of many of
them, I then inquired their value, and advised with
some persons previous to purchasing; sometimes on
noticing an article intended to be sold by auction, I
would procure a sample, and call on some dealer in
the article, and get them to offer me a fixed price on
my furnishing it: in this way, by first ascertaining
where I could dispose of the goods, I would purchase,
provided the price would afford me a profit. On this
plan I have found a purchaser for goods, bought and
delivered them, and received the money which ena-
bled me to pay the auctioneer the cost of them, with-
out my advancing one shilling. I was obliged to
live by my wits, and this necessity was of great use
to me afterwards. Some months after my arrival at
New York

, my brother Charles arrived from Ireland,
and brought with him, on account of merchants there,
provisions, linens, &c. shipped from Dublin, Cork,
Belfast, and other ports. He returned to Europe in
1780, previous to which we formed a copartnership
with Benjamin Sykes, under the firm of Eddy, Sykes, & Co.

This firm prosecuted business mostly in consign-
ments from England

and Ireland, and some shipping
business. My partner was a good natured honest
Englishman, but not possessed of a very intelligent,
active mind; in consequence of this, the management
and contrivance of the business fell to my lot, and,