however, he at last determined to sell,
the demand had wholly ceased; he
could effect no sales ; and, becoming
bankrupt, he literally died of a broken
heart all from an extensive and un-
requited attachment to " women's
blacks,"
Cool Operation.
LITERALLY, one of the coolest opera-
tions known in the annals of trade,
will readily be accorded to that which
is here narrated. New England is said
to have but two native products, gran-
ite and ice, and this story pertains to
the latter. A gentleman long identified
with the ice trade, after some twenty-
five years of successful enterprise,
thought to enlarge his sphere of
knowledge and action by entering
into some other branch of mercantile
business. He soon became entangled,
however, by his relation to some un-
fortunate commercial houses, and
found himself a debtor to the amount
of two hundred and ten thousand dol-
lars. This must have given him more
of a chill than his ice-houses ever did.
But he knew that faint heart never
won either fair lady or other noble
prize. He told his creditors, therefore,
that if they would give him time, and
not hamper him at all, he would pay
the whole, principal and interest. For
thirteen years he labored for it, and
finally one day made the closing pay-
ment on two hundred and ten thousand
dollars principal, and seventy thousand
dollars interest. He did all this in his
old and original business, as the ice-
king of the globe. He sold his cargoes
in the great southern ports of the two
hemispheres, at low prices, kept rigid
faith, bought largely the needed store-
. 426
COMMERCIAL AND BUSINESS ANECDOTES.
houses in the various centres of the
trade, secured the lands around his
ponds, made friends everywhere, and
came out with an independent fortune,
and free from debt. Such was his gen-
erous policy that the English residents
of Calcutta presented him with a fire-
proof stone storehouse, as a token of
respect, and to retain him in that
market.
Louis the Sixteenth and the Saddler's
Bill.
A FRENCH bishop owed his saddler
ten thousand livres, of which the poor
man was not able to obtain a single
sou from his mitred debtor; but was
at length turned out of the palace by
his servants, when he went to ask for
the debt. The saddler, who was ruined
for want of his money, was obliged to
leave Paris, in order to avoid a jail ;
but previous to doing this, he called
on a relation of his, who was the king's
valet-de-charnbre, to take his leave of
him. In stating his distressed situa-
tion, he spoke so loud that the king,
the amiable Louis the Sixteenth, who
was in an adjoining apartment, called
out to ask the cause. The valet made
the best apology he could, at the same
time hinting the cause of his friend's
distress. The king interrogated the
saddler, and immediately paid the bill,
taking a receipt for the money.
A few days afterward, the bishop ap-
peared at court. " I come, sire," he
pompously said, " to pay my duty to
your majesty." " There is another
duty," said the king ; " you must first
pay the duty of honesty." Then call-
ing for the saddler's receipt, he ordered
him to send the money within two
hours, giving him, at the same time, a
severe reprimand for eluding the pay-
ment of his traders' bills.
"Debt" and the Contribution Box.
A MINISTER in Liverpool, preaching
a sermon in aid of an infirmary, among
other arguments to effect his purpose,
naively observed, " Such was the im-
portance and excellence of the institu-
tion, that no man could possibly be
prevented from bestowing liberally, ac-
cording to his ability, but by some
positive distress of circumstances. Who-
ever, therefore,
he added, " shrinks
from his duty on this occasion, must
be inevitably concluded to be in debt
and therefore very excusable." The
result showed a remarkable degree of
solvency on the part of the worshippers
in that congregation.
Failures in Business.
THE statement of which the late
General Dearborn, of Massachusetts,
was the author, some years ago, in re-
gard to the great number of failures
among business men, has had a world-
wide circulation. This statement was,
that after a most extensive acquaint-
ance with business men, and having long
been an attentive observer of the course
of events in the mercantile community,
he was satisfied that, among one hundred
merchants and traders in Boston, not
more than three ever acquire independ-
ence!
So startling a statement as this chal-
lenged a careful investigation by several
intelligent gentlemen. One of these,
determined to sift the matter, says that
he called upon a friend, a great anti-
quarian one always referred to in
whatever concerns the city of Boston
who told him, that, in 1800, he took a
memorandum of every person doing
business there on Long Wharf, and
that, forty years after (which may be
said to be as long as a merchant con-
tinues in business), only five in one
hundred remained. They had all, in
that time, failed or died destitute of
property. One of the directors of the
Union Bank a very strong bank to
this day also stated that the bank
commenced business in 1798 ; that
there was then but one other bank in
THEIR LEGAL AND JUDICIAL ASPECTS.
427
Boston, the Massachusetts Bank, and
that the " Union " was so overrun with
business that the clerks and officers
were obliged to work until twelve
o'clock at night, and all Sundays ; that
they had occasion to look back, a year
or two ago, and they found that, of the
one thousand accounts which were found
to have been opened with them in
starting, only six remained ; they had,
in the forty years, either failed or died
destitute of property. Houses, whose
paper had passed without a question,
had all gone down in that time. An-
other informant, who had occasion to
look through the probate office a few
years since, was surprised to find that
over ninety per cent, of all the estates
settled there were insolvent.
It has been ascertained that not more
than one per cent, of the best class of
merchants escape from failing in Phila-
delphia ; and that not more than two
per cent, of the merchants of New York
ultimately retire on an independence,
after having submitted to the usual
ordeal of failure. These calculations
are based upon periods of twenty -five
and thirty years.
In Cincinnati, out of a list of some
four hundred of the principal business
men who were in trade in that city at
a certain period, there were only five
in business at the end of twenty years
from that date. Such is mercantile
success.
Grandest Instance of Debt.
THE grandest instance of growing
debt upon record is that of the king
of Leon, mentioned by Mariana. Fer-
dinand Gonzalves had sold this prince
a falcon upon credit. The interest was
high, and it compounded itself in the
course of a few years into a sum so
enormous that the king was forced to
make over to Gonzalves his rights on
the kingdom of Castile to be quit of
the liability.
Quaker's Reply to Fordyce the
Bankrupt Banker.
WHEN the great banker, Fordyce, be-
came bankrupt, or nearly so, through
his speculations, his efforts to "raise
the wind " were earnest and incessant.
Among those to whom Mr. Fordyce
went was a shrewd Quaker. " Friend
Fordyce," was the reply of the latter,
" I have known many men ruined by
"two dice, but I will not be ruined even
by Four-dice ! "
General Jackson's Endorsement among:
Boston Capitalists.
SOME twenty-five years ago, a mer-
chant in Tennessee became involved
and wanted money ; he had property,
and owed debts. His property, how-
ever, could not be made available just
then, and off he posted to Boston,
backed by the names of several of the
most solid men of Tennessee. Money
was then everywhere " tight," and Bos-
ton capitalists looked closely at the
names.
" Very good," said they, " but but
do you know General Jackson ? "
" Certainly."
" Could you get his endorsement ? "
" Yes ; but he is not worth one tenth
as much as either of these men whose
names I offer you."
" No matter ; General Jackson has
always protected himself and his paper,
and we'll let you have the money on
the strength of his name."
In a few days the papers with his
signature arrived. The moment those
Boston bankers saw the tall A. and
long J. of Andrew Jackson's signature,
the Tennesseean debtor found he could
have raised a hundred thousand dol-
lars upon it without the slightest diffi-
culty.
Legal Eccentricities of Commerce.
SOME of the peculiarities of English
trade, in former times, are illustrated
428
COMMERCIAL AND BUSINESS ANECDOTES.
by the fact that the granting of monop-
olies, or the legal protection afforded
to exclusive companies, once obtained
an enormous height. Thus, the town
of Bridgeport, noted then for its rope-
rnaking establishments, obtained the
passage of a law, which prohibited the
mystery of rope-making in its vicinity
to any save the townsmen. The city
of York was favored with a similar
monopoly in the article of bed cover-
lets. The city of London procured
many similar enactments against the
resident foreigners. The Fishmongers'
Company, one of the most influential in
that city, was protected by a law which
obliged all the queen's subjects to eat
fish twice a week for the benefit of the
fishers. The Capmakers' Company,
too, procured an ordinance, under
which every one, save ladies, knights,
and noblemen, were obliged to wear
woollen caps. These, and many simi-
lar arbitrary interferences with private
right, and the ordinary course of trade
laws against crowding the city laws
specifying the quantity of land to be
used for pasture laws regulating dress,
etc., all these constitute what may be
called the legal eccentricities of com-
merce.
Addison's Loan of Five Hundred
Pounds to Stanyan.
ADDISON and Mr. Temple Stanyan
were very intimate. In the familiar
conversations which passed between
them they were accustomed freely to
dispute each other's opinions. Upon
some occasion, Mr. Addison lent Mr.
Stanyan the sum of five hundred pounds.
After this, Mr. S. behaved with a
timid reserve, deference, and respect ;
not conversing with the same freedom
as formerly, or canvassing his friend's
sentiments. This gave great uneasi-
ness to Mr. Addison. One day they
happened to fall upon a subject on
which Mr. Stanyan had always been
used strenuously to oppose his opin-
ion. But even upon this occasion he
gave way to what his friend advanced,
without interposing his own view of
the matter. This hurt Mr. Addison so
much, that he said to Mr. Stanyan:
" Either contradict me, or pay me the
money."
Borrowing of Rich Relatives.
MONEY may sometimes be borrowed.
This is very innocent ; but they are
doubly innocent who make advances,
and, besides, the lenders are a very
small body so small, indeed, that
" one trial will prove the fact," as the
patent medicine venders phrase it.
Among relatives, especially, one will
find a great difficulty in obtaining or
extracting the " needful ; " they are
generally nervously tenacious of being
cozened. Therefore, "try it on" with
strangers; for, it frequently does hap-
pen, the less you are known the better !
A poor cousin of a very opulent mer-
chant stood cooling his heels in the
outer office for two long hours, when
at length he was admitted. His dis-
tress, by the w r ay, was genuine.
" Well, sir, what is it ? " said the rich
man fiercely.
"I am sorry to intrude upon you,
sir. I am really in great difficulty."
"No long stories. What do you
icant? Come to the point," and he
impatiently drew out his gold chro-
nometer.
"A fortnight's rent is unpaid my
wife is ill, very ill and they threaten
to turn us into the street."
" Well ? "
" A trifle, sir, would "
" Pshaw ! I've nothing to give : I
have too many claims upon me al-
ready. I beg you will not trouble
yourself to call here again. I hate poor
people. Work, sir, work. I cannot
waste more time. I am going to
'Change."
" The sooner the better," replied the
applicant; and, casting a withering
look of indignation at his opulent cou-
THEIR LEGAL AND JUDICIAL ASPECTS.
429
sin, he was soon in the street. He was
a wit as usual, however, a poor wit.
His cousin was a fool, but a rich
fool.
Sometimes a little may be clone in
tae way of borrowing, by " I. O. U.'s,"
and notes of hand, but the worst of it
is, that the debts one contracts in this
way render him liable, and creditors
will put him in that awkward position
which, at one tap, makes a man and his
circumstances on a par being both
confined.
No Trust for Merchants in Small-
clothes.
MB. ELIAS BASKET DEKBY, an old-
school merchant of Salem, Massachu-
setts, was once cheated by a merchant
to whom he had sold some merchandise
under circumstances that should have
ensured a better return on the part of
the customer. When the loss was as-
certained, he called his clerks around
him, and charged them not to trust a
man again who wore nankeen, small-
clothes in mid-winter, " for if he cheats
himself, you may expect he will cheat
you." A few weeks afterward, one of
the first merchants of Boston drove
down to Salem, while Mr. Derby was
absent, to buy an invoice of goods ; but
the clerks observing his dress, and tak-
ing Mr. Derby at his word, refused to
trust him a single dollar, and he re-
turned without his merchandise. His
anger was appeased when he discovered
what part of his costume had destroyed
his credit.
Portunate Debtor "Washington as a
Creditor.
ONE Reuben Rouzy, of Virginia, owed
General "Washington about one thou-
sand pounds.
While President of the United States,
one of his agents brought an action for
the money; judgment was obtained,
and execution issued against the body
of the defendant, who was taken to
jail. He had a considerable landed
estate, but this kind of property cannot
be sold in Virginia for debts, unless at
the discretion of the person. He had
a large family, and for the sake of his
children preferred lying in jail to sell-
ing his land. A friend hinted to him
that probably General Washington did
not know anything of the proceeding,
and that it might be well to send him
a petition, with a statement of the cir-
cumstances. He did so, and the very-
next post from Philadelphia, after the
arrival of his petition in that city,
brought him an order for his immediate
release, and a severe reprimand to the
agent for having acted in such a man-
ner.
Poor Rouzy was, in consequence, re-
stored to his family, who never laid
down their heads at night without a
prayer for their " beloved Washington."
The labors of the grateful family
prospered, and in a few years Rouzy
enjoyed the exquisite pleasure of ten-
dering to his gracious benefactor the
one thousand pounds with interest.
Washington reminded him that the
debt was discharged; Rouzy replied
that the debt of his family to the father
of their country and preserver of their
parent could never be discharged ; and
the general, to avoid the pressing im-
portunity of the grateful Virginian,
who would not be denied, accepted
the money only, however, with the
secret intention to divide it among
Rouzy's children, which he immediately
did.
Indian's Idea of Imprisonment for
Debt.
THE reply of the Oneida Indian to a
person who was showing him a trader
in prison for debt in a county jail, is
perhaps more to the point than the
most learned essays on the subject it
involves. " What had him to do ? "
asked the Indian. " He couldn't pay
his skins," said the other, alluding to
the Indian's currency, at that time, of
furs. "He catch no skin locked up in
430
COMMERCIAL AND BUSINESS ANECDOTES.
Jwuse" was the ready and unanswer-
able reply of the Indian " savage." It
is stated that Whittier based his well-
known production, u Prisoner for Debt,"
upon the fact that a mau who had
fought in four battles of the Revolution
was in confinement within plain sight
of Bunker Hill battle ground, on a
fourth of July, for a debt of fourteen
dollars !
" Gave Ms Note."
A GENTLEMAN was about entering a
drygoods shop on Broadway, when a
young buck, with a large moustache
and small income, but born like Jaffier
with " elegant desires," drove up a pair
of spanking bays, glittering with their
splendid caparison. " Ah, G ," said
he, " how de do ? How d'you like me
ho'ses ? Fine animals, but very costly.
What d'you think I gave for the pair ? "
" I guess you gave your note," said G.
" Good mawning ! " responded the
blood, putting the mettle of his " ho'ses "
to the test ; " good mawning ! "
Giving Credit To-Morrow.
A COMMON inscription in front of the
Neapolitan wine and maccaroni houses
is : " Domani si fa credenza ma aggi
no " or, " To-morrow we give credit, but
not to-day."
Frodsham's Watch Cheat.
MB. GANT, a celebrated London
watchmaker, had long manufactured
watches for the markets of Constan-
tinople and other places in the Levant ;
and his watches had acquired great
repute there, and a ready sale. They
were distinguished from all others, not
only by the names, but also by the
word cesendede (warranted) impressed
upon each in Turkish characters. It
appeared that, at the same time, Messrs.
Parkinson & Frodsham had manu-
factured and were exporting, together
with two other persons, who gave them
the order, a number of watches with
that distinguishing word upon them,
and made, also, in other respects, to
resemble and pass for Mr. G.'s watches.
Messrs. P. & F. essayed to excuse them-
selves by showing that they were not
aware that they had been counterfeit-
ing Mr. G.'s watches; that they had
been ordered to make a quantity of
watches for export, and to express on
them the Turkish characters in ques-
tion. They, however, argued that there
was no law to prevent them from affix-
ing the word " warranted," in Turkish,
to their own watches, or limit the ex-
clusive use of it to Mr. Gant. It was
decided, on a suit being brought in the
case, that Mr. G. having long used a
Turkish word, in Turkish characters,
engraved upon the watches made by
him for the foreign market, where they
were in high estimation and enjoyed
great sale, had an exclusive right to the
distinguishing marks which he had
thus originated.
Found Goods.
IT was one of the laws of Stagira,
that " no one shall take up what he
never laid down." Biblius used to say :
" It was a kind of blossom of injustice
to seize upon what was so found ; " and
in the practice of his life, never was a
man more scrupulously observant in
this respect.
Narrow Escape from Bankruptcy.
SOME years ago, a New York mer-
chant had in his employment a young
man who robbed him of several thou-
sand dollars. It being impossible to
recover the money, he was allowed to
go unpunished upon his promise to re-
turn the amount stolen if ever he should
be able to do so. He was not heard
of until a long time had elapsed, when
a stranger entered the counting house
of his former employer.
THEIR LEGAL AND JUDICIAL ASPECTS.
431
" You do not remember me," said the
stranger.
" No," was the reply.
" Did you not once have in your em-
ploy a young man by the name of
Thomas ? "
" Yes."
" What became of him ? "
" He left me about ten years ago, and
I have never heard from him since."
" Why did he leave you ? "
"No matter. It was a long time
ago."
" Was he an honest youth ? "
" I think he was naturally, but he
got into bad company, who misled
him."
" Had you confidence in him ? "
" The most implicit ; and I cannot,
somehow, help having confidence in
him still, and believe he will one day
return and pay the money he owes me."
" Here it is, principal and interest,
every cent of it, in current money ; I
have come on purpose to pay it ; and
implore your forgiveness for an early
crime."
" Who are you ? " said the merchant.
" Thomas " he replied " who rob-
bed you so many years ago, and who
has been fortunate enough, in his traffic
abroad, to honestly obtain the means of
returning to you the sum he had frau-
dulently abstracted from you."
This case derives additional interest
from the circumstance that, had it not
been for the receipt of this money, the
merchant, who was on the eve of bank-
ruptcy, must have failed in the course
of a few weeks.
Collecting: a Draft.
GRANT THOKBURN, in his " Life and
Times," records the following incident
in his business career an incident, by
the way, very characteristic of that sm
generis type of the old-fashioned trader
" In April last," says Mr. Thorburn
" we received a letter from Mr. C., or-
dering about two hundred and fifty
lollars' worth of seeds and trees, and
stating that B. & Co. would pay our
Dill. Before complying with the order,
we showed the letter to B. & Co. ; they
stated, that had the amount not exceed-
ed one hundred dollars, they would
liave paid it, but being already consid-
rably in advance, they were not in-
lined to go further, but added, they
considered him a good man, and
thought we should be safe in trusting
him that amount. My son being anx-
ious to fill the order, I consented the
oods and invoice were forwarded, but
receiving no answer for some six weeks
thereafter, we wrote to him again, re-
questing him to send us a draft on P.
W. & Co. ; still no answer came. One
day, during the cholera, about the be-
ginning of September, I picked up a
piece of paper from the floor, which,
from some words on it, brought the
matter to my mind, and I then told
my son I was anxious about the affair
with C., and was resolved to stir in the
business ; he, however, thought we
would better let it rest till after the
cholera, as it was probable Mr. C.
might be out of town, etc. But the
thing kept harassing my mind, so I
determined to see the Messrs. B., and
consult with them before the day
closed. I called at their office about
fifteen minutes past four, presuming
they would have returned from dinner ;
I waited some time, and they not re-
turning, I went home, drank my tea,
and resolved to call again, if spared,
next morning. But something in my
mind kept prompting me on ; so hav-
ing finished tea, I returned to the office,
and found Mr. B. alone, showed him
Mr. C.'s letter, and asked his advice.
He advised me to draw on C. at ten
days' sight, in favor of R C., to give
the draft to him (Mr. B.), and he would
give it to C. to forward. I came home,
told my son, bid him take his tea, and
draw the drafts as soon as he went
back ; he smiled, and said he could not
see what made me so pushing in this
432
COMMERCIAL AND BUSINESS ANECDOTES.
business all at once. Says I : * I can't
either; but something hurries me on,
so that I can't rest satisfied till I push
it as fast as I can.' The draft was
drawn that night. Next morning I
gave it to B., with an earnest request
that he would give it to Mr. C. to for-
ward by that day's mail. About a
month after, Mr. B. came into our store,
and told us a long story about the
failure of our debtor, and how much
had been lost by him, but added, ' Tour
draft is paid, and paid too the very day
before he failed.' Next day, another
stepped in and told us the same story,
remarking : ' You are a lucky fellow,
Thorburn, for had not the draft gone
on that very day, I don't think you
would have got a cent.' "
Talleyrand's Promise to Pay.
ONE of the many creditors to whom
the great Talleyrand was indebted in
such heavy sums, waited on him as he
was setting off on one of his last jour-
neys not to take so vulgar a liberty
as to ask for the money which had so
long been his due, but merely to ascer-
tain any time, however remote, when
he might presume to ask for a part of
it. The diplomatist's only reply to the
inquisitive intruder was: "Monsieur,
vous etes bien curieux ; " and no one
but the diplomatist could have made
such a reply.
Taxing Bills and Receipts.
THE great art of taxation is to get as
much as is possible, and to lay duties
on those articles which are likely to
bring in the largest product. The
English stamp on receipts is all well
enough, but Punch declares that a
stamp on Mils would be much better
for it has been ascertained that receipts
are rare in proportion to bills, there
being, at the lowest computation, at
least a thousand of the latter to one of
the former. If it were compulsory on
every tradesman to send in his bill to
his debtor upon a stamp, a much larger
revenue would be the result. Let any
one look through his private papers,
and he will find the preponderance of