Great Fortunes, and How They Were Made. James Dabney McCabe

long as such a course was necessary, Mr. Lawrence devoted himself entirely to his business, but after he had placed it on a safe footing, he was careful to reserve to himself time for other duties and for relaxation. No man, he said, had the right to allow his business to engross his entire life. "Property acquired at such sacrifices as I have been obliged to make the past year," he wrote at the commencement of 1826, "costs more than it is worth; and the anxiety in protecting it is the extreme of folly." He never lost sight of the fact that man is a responsible, intelligent being, placed in the world for other purposes than the mere acquisition of wealth.

      In October, 1808, his brother, Abbott Lawrence, afterward famous as a merchant and statesman, came to him as an apprentice, and on the 1st of January, 1814, he was admitted to partnership, the style of the firm being A. & A. Lawrence. This partnership was terminated only by the death of the elder brother in 1852. Their business was the importation and sale of foreign manufactures, and the firm soon took its place at the head of the Boston merchants engaged in this trade. The tariffs of 1816 and 1824 gave a new and powerful impetus to the manufacture of woolens and cottons in this country, and the Lawrences entered largely into the sale of these goods on commission. In 1830, they became interested in the cotton mills at Lowell; and on the establishment of the Suffolk, Tremont, and Lawrence Companies, as well as subsequently in other corporations, they became large proprietors. From this time their business as selling agents was on the most extensive scale, and their income from all sources large in proportion. They amassed large fortunes, and won names which are the most precious heritages of their children.

      Perhaps the best exposition of the principles upon which these brothers conducted their commercial operations is found in the following letter from the elder to the younger, written on the 11th of March, 1815, upon the occasion of a visit to England by the latter on business for the firm: