Ypsilanti sentinel. [volume] (Ypsilanti, Washtenaw Co., Mich.) 1843-1900, 1845-06-18
From The Godey's Magazine and Lady's Book
ACKNOWLEDGE A DEBT.
Will be published every Wednesday, at Ypsanti
Washtenaw Co Michigan,
BY T. 8. ARTHUR.


According TO the provisions oil an act of Assem-
bly in a neighboring state. an insolvent debtor,
ON giving up his property, is released from III his
moneyed obligations 50 far as The law is concern
ed. If he should become possessed OF million
dollars, the result of application to business after
his failure, he can hold it free from all the de
nauds of his creditors. providing he does not ac-
knowledge his Indebtedness in writing, or verbally
in the presence OF a witness.
II often happens that mar who has good
deal of hope IN his mental composition, with in
teIligence aud energy of character, gets beyond
his depth and fails. The insolvent law releases
him from the burden OF debit and wiser and
more prudent man, he starts again into the world.
As soon as he is fairly under way, cerain class
of his former creditors approach him and endeavor
TO ge, from him some acknowledgement of his old
claim. Too often it happens tina. the debtor as
sumes enough of these obligations which are usu-
allv pressed at once, to swamp him again. But
IN general, even the strictly homes, debior-hat
is, he who fully intends paying all claims against
him. If ever able. is very cautious not To ackowl-
edge any thing unit! he is ready to payt,
There are too many however, who positively
refuse, even after becoming comparatively wealthy
to meet single Oblig ,tIOn contracted previously,
even though the debt be to one wao greatly needs
what is owed To hIGi. A case of this kind occur
red with man whom we will designate by the
name Ct WoodfalI. He was fellow OF the cool
es, temper in the world and had a high regard for
Justice and hooor xhen they brought dollars into
his own pocket. He did business rather careless
ly, aud failed IN consequence. One of his credit
ors, named Jacobs, was man who had large
family to support. He could not bear the loss of
L It'll
On the day after Woodlall went through the mill,
as il was called, Jacobs met him in the road.
They both lived IN country village.
Il am sorry from my heart a, your misfortune
the latter said.
'And SO am L., was returned. But what can't
be cured must he endured | shall Try again.
with more success, hope
Doubtless. And then will remember vou
Jacobs. know you have much YOU eau
on to get along. and it grieyes me to think that
through n y failure you should be brought into
more trouble.
Il know. if it is ever IN your power. all will be
made up to me-
Yes principal and interest, shall see The day
yet, hope, when can look every honest man III
the face-when no one eau say To me, Pay me
that thou oxesi.''
y
i believe so,' was The confident reply. so
don't let the loss you have met with through me-
Inconvenience you more than you can help. All
will turn out right. Yonr five hundred dollars
may come at q time when they needed much
more than they are at present.
After this conversation Jacobs felt more Gem
Portable. He knew that Woodfall was an active
enterprising man, and he believed that he would,
in the course of few years, be IN a condition TO
pay him his five hundred dollars, principal and
interest,"
; Time passed on. Woodfall, who had kept
store previous to his failure, managed to get
stock of goods. and again commenced business.
At the end of the second year, he had done so
well that he was able to build house. But not
a word had be said to any one about paving off
old scores. At length Jacobs, who, poor man,
had become poorer instead Of richer. thought that
il would be no harm TO call his debtors atten-
ton TO the fact of his having promised to re-
member him. So, one day, he called in anG said
10 him, in the presence of his clerk
Mr.. Woodfa)l, if you think you are able 10 do
q little for memo matter how liule-I shall feel
greatly obliged. | wouldn't have said one word,
Only am dreadfoIiy put to it 10 get along
do a little for you? Howl ! don't exactly
understand you, was Woodfal's reply, with
look OF innocent surprise.
THAT old account, you know, MIR. Woodfail.'
odd account? don't know Of any old DC
count, Mr.. Jacobs
oh. yes +! Don't you remember the five hun
dred dollars that you owed me =
Il do remember that once owed YOU that sum;
but il was paid long. long ago. No man can