MENYANTHES, in botany, a genus of the Pentandria Monogynia class and or der. Natural order of Preciie. Lysi machix, Jussieu. Essential character : corolla shaggy ; stigma bifid ; capsule ene-celled. There are 'five species, of which M. nymphoides, fringed buckbean, or water-lily, has a long, stringy, perenni al root, the stems are round, smooth and jointed, producing opposite thick leaves, floating on the surface of the water, on foot-stalks various in length, according to the depth of the stream ; the flowers grow from the exits in a kind of sessile umbel, four or fire together, on long round peduncles, shorter than the peti oles; when expanded in the Sun they have a brilliant appearance. It is a native of Denmark, Holland, Germany, Piedmont, and England, growing in ditches and slow streams; it flowers from June to August. MERCHANT, a person who buys and sells commodities in gross, or deals in ex changes ; or that traffics in the way of commerce, either by importation or ex portation. Formerly, every one who was a buyer or seller in the retail way was called a merchant, as they are still both in France and Holland; but here, shopkeep ers, or those who attend fairs or markets, have lost that appellation.
Previously to a person's engaging in a general trade, and becoming an universal dealer, he ought to treasure up such a fund of usefurknowledge, as will enable him to carry it on with ease to himself, and without risking such losses as great, ill-concerted undertakings would natural ly expose him to. A merchant should therefore be acquainted with the follow ing parts of commercial learning : 1. He should write properly and correctly. 2. Understand all the rules of Arithmetic that have any relation to commerce. 3. Know how to keep books of double and single entry, as journals, a ledger, &c. 4. Be expert in the forms of invoices, ac counts of sales, policies of insurance, charter-parties, bills of lading, and bilisof exchange. 5. Know the agreement be tween the money, weights and measures of all parts. 6. If he deals in silk, wool len, linen, or hair manufactures, he ought to know the places where the different sorts of merchandises are manufactured, in what manner they are made, what are the materials ofwhich they are composed, and from whence they come, the prepa rations of these materials before working up, and the places to which they are sent after their fabrication. 7. He ought to know the lengths and breadths which silk, woollen, or hair-stuffs, linen, cottons, fus tians, &c. ought to have, according to the several statutes and regulations of the places where they are manufactured, with their different prices, according to the times and seasons and if he can add to his knowledge the different dyes and ingredients which form the various co lours, it will not be useless. 8. If he con fines his trade to that of oils, wines, &c. be ought to inform himself particularly of the appearances of the succeeding crops, in order to regtilate his disposing of what he has on hand ; and to learn as exactly as he can, what they have produced when got in, for his direction in making the ne cessary purchases and engagements. 9. He ought to be acquainted with the sorts of merchandise found more in one coun try than another, those which are scarce, their different species and qualities, and the properest method for bringing them to a good market, either by land or sea. 10. To know which are the merchandises permitted or prohibited, as well on enter ing as going out of the kingdoms or states where they are made. 11. To be ac
quainted with the price of exchange, ac cording to the course of different places, and what is the cause of its rise and fall.
12. To know the customs due on impor tation or exportation of merchandizes, according to the usage, the tarifa, and re gulations of the places to which he trades.
13. To know the best manner of folding up, embaling, or turning the merchan dises, fortheir preservation. 14. To un derstand the price and condition of freighting and insuring ships and mer chandise. 15. To be acquainted with the goodness and value of all necessaries for the construction and repairs of shipping, the different manner of their bwlding, what the wood, the masts, cordage, can nons, sails, and all requisites, may cost. 16. To know the wages commonly given to the captains, officers, and sailors, and the manner of engaging with them. 17. He ought to understand the foreign lan guages, or at least as many of them as he can attain to ; these may be reduced to four, viz. 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 now become almost universally current. 18. He Ought to be acquainted with the consular jurisdiction, with the laws, customs, and usages, of the different countries he does or may trade to ; and in general all the ordinances and regula tions, both at home and abroad, that have any relation to commerce. 19. Though it is not necessary for a merchant to be very learned, it is proper that he should know something of history, particularly that of his own country, geography, hy drography, or the science of navigation, and that he is acquainted with the disco veries of the countries in which trade is established, in what manner it is settled, of the companies formed to support those establishments, and of the colonies they have sent out.
All these branches of knowledge are of great service to a merchant who carries on an extensive commerce ; but if his trade and his views are more limited, his learning and knowledge may be so too : but a material requisite for forming a merchant is his having on all occasions a strict regard to truth, and his avoiding fraud and deceit, as corroding cankers that must inevitably destroy his reputa tion and fortune.
Trade is a thing of so universal a na ture, that it is impossible for the laws of England, or of any other nation, to deter mine all the affairs relating to it ; there. foie all nations, as well as Great Britain, shew a particular regard to the law mer chant, which is a law made by the mer chants among themselves : however, mer chants and other strangers are subject to the laws of the country in which they re side. Foreign merchants are to sell their merchandize at the port where they land, in gross, and not by retail ; and they are allowed to bepaid in gold or silver bullion, in foreign coin orjewels, which may be exported. If a difference arises between the King and any foreign state, the mer chants of that state are allowed six months time to sell their effects and leave the kingdom, during which time they are to remain free and unmolested in their per sons and goods.
Msacnswr. The law of merchants is part of the common law of England. See Insunancx, BILLS or EXCHANOS.