THE MERCHANT.

The Merchant is a wholesale dealer in all sorts of merchandise, who exports and imports goods to and from different parts of the
world, who deals in exchange, and buys and sells goods in their original packages without breaking bulk. In England, the term Merchant is usually restricted to a person who has commercial transactions with foreign countries, who is owner of a vessel or vessels, or who is engaged in sending, on his own account, goods in large quantities from one port to another. To this general definition there are, however, a few exceptions, as a Hon-Merchant, &c.

The mercantile profession is very ancient, and generally esteemed noble and independent : in France, by two decrees of Louis the XlVth, the one in 1669, and the other in 1701, a nobleman was allowed to trade both by land and sea without any disparagement
to his nobility ; and we have frequent instances of Merchants having been ennobled in that country, in consequence of the utility which their commerce produced to the state. In many other places, more especially in the republics of Venice, Holland, and Genoa, the value of commerce has been justly appreciated ; and in Great Britain there is not a higher or more enviable character in the community, than that of an. honourable upright and intelligent Merchant.

To carry on the business of a Merchant with a high degree of credit, a man should possess a large stock of general knowledge,
and a considerable capital; the one will prevent him from falling into errors, and the ether will enable him to give credit to his
customers both at home and abroad. ,

The Merchant should be perfectly acquainted with all the departments of writing, arithmetic, and the keeping of books. He should be expert in the forms of invoices, account of sales, policies of insurances, in the nature of charters, bills of lading, and bills of exchange. He should understand the agreement and: difference which subsist between the monies,, weights, and measures of
different countries, or of different counties in his own country. He ought to have a general and accurate knowledge of the different
manufactures in which he deals, at least, of the places where they are best made, and of the materials of which they are composed.
He should know the best season for bringing his own goods to market, and be well acquainted with the nature of exchange, according to the course of different places, and with the causes of its rise and fall. He should know what merchandizes are permitted or prohibited, as well on entering as iti going out of the kingdom or states where they are manufactured. He should know the customs due on the importation or exportation of goods, according to the mage and regulations of the places to which he trades. He should understand the best methods of packing merchandizes, either to preserve them in warehouses, or to adapt them for short or long voyages. He should know the price and condition of freighting and insuring ships and goods ; and if the vessels or any part of them are his own property, he should be acquainted with their value ; the expense of first building and subsequent repairs ; the wages given to the several officers and sailors who work them, and the best method of engaging them in his service. He ought to be able to write letters with ease and elegance, and to understand as many foreign languages as he can. The following are, however, the most important for him to know: the Spanish, which is used not only in Spain, but on the coast of Africa, from the Canaries to the Cape of Good Hope ; the Italian, which is understood on all the coasts of the Mediterranean, and in many parts of the Levant ; the German, which is understood in almost all the Northern countries ; and the French, which is current in most parts of Europe. Finally; the Merchant should be well acquainted with the laws, customs, and regulations of the countries to which he does or
may trade.

The business carried on by Merchants in this country, may be divided into inland and foreign. The inland trade consists in transporting the commodities of one part of the kingdom to another, but this is rather the cent .more or less, upon condition that he pay business of the wholesale dealer, than of professed Merchants, unless goods are conveyed by ships.

The foreign trade consists of exports to, and imports from almost all parts of the world.

Merchants are distinguished from one another, either by the goods in which they traffic, or by the Countries with which they have
their chief correspondence. Thus a Merchant who deals chiefly in tobacco, is called a Tobacco-Merchant, a wholesale dealer in
wines, a Wine- Merchant, &c. '

The West India Merchant exports and imports goods to and from the West Indies. A Turkey Merchant exports and imports goods to and from Turkey. A Russian Merchant exports and imports goods to and from Russia, &c. '

Merchants have in their dealings, much business with the Custom-House, which may be readily explained. Rum, sugar, and almost all articles imported from abroad, pay certain duties to government before they can be sold in England : these duties are to be paid
for at the Custom-House.

Many articles manufactured in England, as glass, leather, &c. are subject to heavy taxes ; but to encourage trade, these taxes, or part of them, are often returned, when the same articles are exported to foreign countries, and such returns of taxes are called drawbacks. Sometimes, more is allowed than the tax; such allowance is called a bounty on exportation.

Ships are also entered inwards and outwards when they bring home or proceed abroad with cargoes ; they also pay a tonnage duty in this country on their arrival, the master being required to carry an account of his cargo to the Custom-House, which is called a manifest report.

Factors or Brokers are a species of Merchants who deal by commission, and sell the goods of other people, consigned from the
place of growth or manufacture, to them, for a certain premium per cent. Thus a farmer in the country has a thousand quarters of
wheat to sell at the London market ; he cannot come conveniently to town, therefore he sends his wheat to a corn-factor, who sells it to the best advantage, receives the money, and remits it to the farmer, after having deducted his commission-money for trouble and expense.

There are, also, factors or brokers who deal in foreign commodities, or colonial produce in the same manner. These are distinguished either by the countries with which they deal, or by the goods usually assigned to them; as sugar-brokers, Sheffield-factors, wine-brokers, &c. &c.

Insurers, Underwriters, are a species of Merchants who insure goods from one port to another for a certain premium per cent. If I have a ship bound with goods for the East Indies, there is a risk of its being lost at sea or being burnt ; or, in time of war, of being taken by an enemy ; I therefore go to an Underwriter, and pay him 5, 10, or 20 per mc as many hundred pounds as I have insured
in the event of the vessel's being lost or captured by the enemy. The Insurers are called Underwriters, because they write their names below the articles in the instrument called a policy, by which I become legally intitled to the sum which I have insured. To
effectuate which insurances, there is a class of persons denominated Insurance-brokers. To form an adequate idea of the mercantile transactions of the City of London alone, it has been computed that upon an average, about five thousand vessels sail from this port every year. These measure upwards of one million of tons, and are navigated by about sixty thousand seamen.