pauper of himself, because then he has no power to help himself or any body else. If you want to pay all off, you mustn't put yourself where you can't earn any thing. There was poor Mr. Hazlewood who failed last year. You remember the auction at his house; he would have every thing sold; then he took a small tenement at Harlem; he died last Monday; broke his heart; tried to get into business again; couldn't get credit; those who used to sell him said: 'We have got our pay, we won't risk any more.' So it clean broke his heart. I attended his funeral yesterday; leaves a wife and six children. God knows what they will do."

"Thank you, Williams, thank you. We shall see, and endeavor to do for the best."

"Don't think me too plain-spoken," said Williams. "I couldn't help it, it would come out. Shall we lock up, sir ?"

The good creature did not want me to stay any longer in my dismal solitude.

“Yes; lock up, and bring my letters to the house early in the morning."

"If those bills should after all turn out right!" I said to myself as I walked up the street. The very thought caused my heart to beat quick. It was a glimpse back into the heaven from which I had been thrust out.

3

CHAPTER V.

ATTEMPTS AT COMPROMISE.

THE steamer was in. Wise, Dreadnought and Company's bills returned. A panic in Wall-street. A card from Wise, Dreadnought and Company announcing that they deemed it best to suspend, from prudential motives, hoped it would be but temporary, and so forth. Some were led by it still to have confidence that the house would go on, but I knew it was only to soften the fall. I had passed through my panic. Now that the blow had fallen, my spirit had recovered its natural tone and vigor. I was no longer cowed by a slavish apprehension. I had gone to protest. None but the merchant, proud and sensitive of his credit, can properly appreciate the intense agony which reaches its acmé as three o'clock approaches, after which, when all is over, comes a sensation of relief and relaxation.

I had determined what course to pursue. Looking carefully again and again at our exact situation, it seemed to me if I could have the control of my own affairs I might possibly pay our debts in full, of course with the entire loss of our capital. I determined therefore to prepare a clear statement and submit it to my creditors, and after showing them exactly our position, to request them to take seventyfive cents on the dollar, reasonably extending time for payment of that sum by installments. I would add my honora

ble assurance to all, that if my life was spared it was my intention to pay the whole.

If you would test the different natures and dispositions and temperaments of men, go around among a set of creditors seeking for a compromise, either on your own account or for a friend. After preparing myself carefully, I undertook the task. I had first to overcome with nearly every one the idea that I was worth at least a quarter of a million, and where was it? It was a prima-facie case of some improper or reckless management, for the "mercantile agency" reported me worth that amount, and it was very accurate authority. It never occurred to these good people that here was an instance where the mercantile agency was not accurate. However, I will not say that this proved a serious impediment. My accounts were very clear, my course of business legitimate, my conduct irreproachable, and these did carry conviction along with them. I was frank, too, in stating that I hoped to save something to work with beyond the seventy-five cents offered, and I believed it was better for my creditors as well as for myself that I should do so, because if forced into an assignment I feared our assets would scarcely realize fifty cents.

With the necessary documents prepared I started on my visit to the various creditors. The president of the Bank of Credit assured me of the favorable disposition of the directors, and bade me rely on it there would be no difficulty with them. The president of the Bank of the World said nearly the same, but in a tone rather more guarded. He would submit our proposition, and he believed it would be favorably acted on.

I then went to Longstreet and Company, a large tea house, who held a considerable amount of our paper. This house I had known less of than any other with which I did business, although we had been extensive purchasers from them since we commenced. Their dealings with us were always conducted with a degree of formality peculiar to the senior partner, and I dreaded more to go in and state my errand to him than to any other of my creditors; so I thought I would relieve myself by going there first. I found Mr. Longstreet in his private office. He received me, I fancied,

As I proceeded to state

with more ceremony than usual. what I wanted, his manner relaxed. He drew up his chair to the desk where I sat, and went patiently over my statements, asked some pertinent questions, and finally adjusting his spectacles with much precision, he took the document respecting the composition, and quietly affixed the name of his firm thereto, and handed it back to me. Then he said: "Mr. Parkinson, our house are satisfied with the manner you have done business, and I wish you success in getting through; if we can render you any assistance let me know." I left the counting-room of Longstreet and Company with a light heart. What courage those quiet words of old Mr. Longstreet had given me! How much might I expect from personal friends if almost an entire stranger had treated me in this handsome manner!

I went next to Chapman and Terry. I had not much intimacy with them either. Here both partners were in; both expressed great surprise. Did not understand how it could be; thought I had a quarter of a million to fall back on--every body said so; couldn't afford the loss; every man

must look out for himself; did not believe much in signing off; thought I ought to get the banks on first, and so forth. I was despairing of making any impression on such people, for they declared they had not time to look over my statement, so I said: "Well, gentlemen, I will call again when you are more at leisure." Oh! as to that, they were as much at leisure as they were likely to be these times; better make a finish of the matter, and have no more bother about it; and thereupon Terry took the paper out of my hand, ran his eye hastily over it, nodded "all right" to Chapman, and without more ado scrawled rapidly the name of the house, and handing it back, said: "Good luck to you, Mr. Parkinson; get through as quick as you can, the longer you delay the more trouble there will be. Besides, we want you for a customer. Good day." As I stepped into the street my heart began to warm toward all the world. This effect was produced by the success of my two interviews. I could have hugged in my arms that formal old gentleman, and could have jointly and severally embraced the firm of Chapman and Terry-rough, grumbling, petulant, generoushearted fellows that they were. Fortified with these two important signatures, I called on several other merchants with whom I had more or less difficulty, some taking a day to decide, some wishing to see other creditors, some signing off at once. There was a Mr. Oilnut, whose office was in Wall-street, to whom I paid an early visit. He held our note for eleven hundred and fifty dollars. He was a rich man who invested most of his ready means in commercial paper, and had purchased this note only a few days before, and after our credit began to be weakened, at the rate of