London, 14 Nov. 1868. Dear Fred, Second Letter. P.S. Since practice is better than all theory, I request that you describe to me quite exactly (with examples) the method in which you conduct your business quant à banker, etc. Thus 1) The method when buying, 2) When selling (cotton, etc) {Both with regard only to the monetary way of doing things, the bills; time for drawing them, etc. 2) When selling. Bill relation to your buyers and to your London correspondent. 3) Relation and operations (current account, etc) with reference to your banker in Manchester. Since the 2nd volume is largely too theoretical, I shall use the chapter on credit for an actual denunciation of the swindle and of commercial morals.