Iowa news. [volume] (Dubuque, Upper Mississippi Lead Mines, Wisconsin Territory) 1837-1841, 1837-07-01
Your ever faithful servant,
DANIN O'CONNELL.
THE BORROWERS

Every body knows that PitAraised the charoctar
ana prosperity of England by loans. bu, it is not
senerany known, that "Pitt borrowed the idea of
borrowing from the following dlecdote.
Schneider, an inhabitant OF he Canton of JJ,.
terwald, III Switzerland, was bh, at the noe If
twenty-one, to shift for himself His fatber had
oeeh respectable man, but hid left nothing 70
ms son but some sketches for anew Constitution
winch Schneider could make Noise Of The doc,
tflhs OF loans came into ScheideSs 49, as hauni-
~ as mai OF attraction struck Newton, Asno-
body knew that his father had died insolven,, no
declared openly that he was in want of 1000 rix
dollars, (t4OO) Tor which he was willing to nav
per cent interest, the capital to be repaid in six
months. lie had no difficulty in Obtaining this
loan, which was very useful to him, and by con-
SANITY saying that his father had left him very lit
We, but that by economyh he managed to make both
ends meet, every body though, him modest rich
man. Two months before his bills became due.
ne borrowed of another banker 3,125 rx dollars,
Schneider went TO the parties from whom he had
borrowed the 1900 rix dollars, and after remark
ing that D per cent was a heavy interest 10 paw.
toid them that he would repay the capital if thew
would allow him discount for the remaining part of
the Term. The bankers, convinced of the stability
OF Schneider, were unwilling to take the money:
ne persisted, however, and they consented at
length, OH condition that if ever he should have
occasion to borrow again he would apply to them.
went to work upon great scale, his cre-
dit being fully established. In the course of three
years, there was such an eagcness in the first
houses of Switzerland to lend money to Schneider,
that he frequently refused their offers He Quoted
his conscience, rejecting that if he lived sixty
years, according to his nordinae expenditure. his
creditors would lose only 900 rix dollars by
nm; and ne considered the excellence of his life.
ana the suggestions which he made every now and
men I'll 10 the 3oVemment, as all ample equivalent.
N f,f 1n,~
himself upon his death-bed at the age of SO-not.
however, before he had rendered great Service TO
his country, by introducing ths mode of making
the celebrated Gruycre cheese, which is now eaten
over the whole continent. He summoned his Gre
ditors, one hundred in number to his bedside, and
after relating to them the mode which he had adop-
ted for his support, and as frankly stating that he
had nothing to leave terminated his dying speech in
the following terms 'sWhat is the loss which you
sustain by me, compared with the admirable sys-
TEN OF finance which through me you can reveal to
your country! ], poor mortal at my dying hour,
commit an act of bankruptcy; but the nation ne
yer dies. A nation may borrow without limit. be-
cause its existence is "isaodt limit. Switzerland
has only to tread in my steps, create loans, and
80 pay tho interest punctually and one day or the
other siip will engross the capital Of Europe.n
,sIheereditofs~srs struck dumb with admiration,
and sAnsa,ask q theirsstseaQr the talents of the
great sehhefssAiersct oxeI5 ffaAnEaye a supcrb
monument, with tfes~srsa e 1sss.ssggss
ssDER xxTxs1 sssaeas -.
which signifies 'sThc Boyowef. chs cssI ebra 20
Pitt in tour through Swiix6 ina. saw sss,non,.
ment, and struck with its sing asi,y, snquired s
history. "The nation never dies, repeated Phi,
with ecstacy; and he scarcely said any thing else
till he reached London. The people thought him
mad but in a few months we heard Of the famous
loans with which he subjected India, conquered
colonies, and overthrow Napoleon, who nigh,
probably, have been upon the throne of France ia
Ills day, if the inventor of Gruyero cheese had
never existed. sl..L