Son. May God reward you, sire, for the love of kinship that you show in pointing out so many things that I may find needful,—if I have the good fortune to learn them and to remember them after they are learned. And if you think there are any other important matters that ought to be taken up in this discussion, I shall be glad to listen attentively.

Father. There are, indeed, certain matters which should not be omitted from this discourse, but they can be stated in a few words, if that seems best. Train yourself to be as active as possible, though not so as to injure your health. Strive never to be downcast, for a downcast mind is always morbid; try rather to be friendly and genial at all times, of an even temper and never moody. Be upright and teach the right to every man who wishes to learn from you; and always associate with the best men. Guard your tongue carefully; this is good counsel, for your tongue may honor you, but it may also condemn you. Though you be angry speak few words and never in passion; for unless one is careful, he may utter words in wrath that he would later give gold to have unspoken. On the whole, I know of no revenge, though many employ it, that profits a man less than to bandy heated words with another, even though he has a quarrel to settle with him. You shall know of a truth that no virtue is higher or stronger than the power to keep one’s tongue from foul or profane speech, tattling, or slanderous talk in any form. If children be given to you, let them not grow up without learning a trade; for we may expect a man to keep closer to knowledge and business when he comes of age, if he is trained in youth while under control.

And further, there are certain things which you must beware of and shun like the devil himself: these are drinking, chess, harlots, quarreling, and throwing dice for stakes. For upon such foundations the greatest calamities are built; and unless they strive to avoid these things, few only are able to live long without blame or sin.

Observe carefully how the sky is lighted, the course of the heavenly bodies, the grouping of the hours, and the points of the horizon. Learn also how to mark the movements of the ocean and to discern how its turmoil ebbs and swells; for that is knowledge which all must possess who wish to trade abroad. Learn arithmetic thoroughly, for merchants have great need of that.

If you come to a place where the king or some other chief who is in authority has his officials, seek to win their friendship; and if they demand any necessary fees on the ruler’s behalf, be prompt to render all such payments, lest by holding too tightly to little things you lose the greater. Also beware lest the king’s belongings find their way into your purse; for you cannot know but that he may be covetous who has those things in charge, and it is easier to be cautious beforehand than to crave pardon afterwards. If you can dispose of your wares at suitable prices, do not hold them long; for it is the wont of merchants to buy constantly and to sell rapidly.

If you are preparing to carry on trade beyond the seas and you sail your own ship, have it thoroughly coated with tar in the autumn and, if possible, keep it tarred all winter. But if the ship is placed on timbers too late to be coated in the fall, tar it when spring opens and let it dry thoroughly afterwards. Always buy shares in good vessels or in none at all. Keep your ship attractive, for then capable men will join you and it will be well manned. Be sure to have your ship ready when summer begins and do your traveling while the season is best. Keep reliable tackle on shipboard at all times, and never remain out at sea in late autumn, if you can avoid it. If you attend carefully to all these things, with God’s mercy you may hope for success. This, too, you must keep constantly in mind, if you wish to be counted a wise man, that you ought never to let a day pass without learning something that will profit you. Be not like those who think it beneath their dignity to hear or learn from others such things even as might avail them much if they knew them. For a man must regard it as great an honor to learn as to teach, if he wishes to be considered thoroughly informed.

There remain a few minor matters that ought to be mentioned. Whenever you travel at sea, keep on board two or three hundred ells of wadmal of a sort suitable for mending sails, if that should be necessary, a large number of needles, and a supply of thread and cord. It may seem trivial to mention these things, but it is often necessary to have them on hand. You will always need to carry a supply of nails, both spikes and rivets, of such sizes as your ship demands; also good boat hooks and broadaxes, gouges and augers, and all such other tools as ship carpenters make use of. All these things that I have now named you must remember to carry with you on shipboard, whenever you sail on a trading voyage and the ship is your own. When you come to a market town where you expect to tarry, seek lodgings from the innkeeper who is reputed the most discreet and the most popular among both kingsmen and boroughmen. Always buy good clothes and eat good fare if your means permit; and never keep unruly or quarrelsome men as attendants or messmates. Keep your temper calm though not to the point of suffering abuse or bringing upon yourself the reproach of cowardice. Though necessity may force you into strife, be not in a hurry to take revenge; first make sure that your effort will succeed and strike where it ought. Never display a heated temper when you see that you are likely to fail, but be sure to maintain your honor at some later time, unless your opponent should offer a satisfactory atonement.

If your wealth takes on rapid growth, divide it and invest it in a partnership trade in fields where you do not yourself travel; but be cautious in selecting partners. Always let Almighty God, the holy Virgin Mary, and the saint whom you have most frequently called upon to intercede for you be counted among your partners. Watch with care over the property which the saints are to share with you and always bring it faithfully to the place to which it was originally promised.

If you have much capital invested in trade, divide it into three parts: put one-third into partnerships with men who are permanently located in market boroughs, are trustworthy, and are experienced in business. Place the other two parts in various business ventures; for if your capital is invested in different places, it is not likely that you will suffer losses in all your wealth at one time: more likely it will be secure in some localities, though frequent losses be suffered. But if you find that the profits of trade bring a decided increase to your funds, draw out the two-thirds and invest them in good farm land, for such property is generally thought the most secure, whether the enjoyment of it falls to one’s self or to one’s kinsmen. With the remaining third you may do as seems best,—continue to keep it in business or place it all in land. However, though you decide to keep your funds invested in trade, discontinue your own journeys at sea or as a trader in foreign fields, as soon as your means have attained sufficient growth and you have studied foreign customs as much as you like. Keep all that you see in careful memory, the evil with the good; remember evil practices as a warning, and the good customs as useful to yourself and to others who may wish to learn from you.