Burlington free press. [volume] (Burlington, Vt.) 1827-1865, 1846-02-27
" @ d FALL -!
BY T. S. ARTHUR.
OR THE BANKRUPT oUTwlrrED.

According to the provisions of an act Of
Assembly IN a neighboring State, an insol-
vent debtor, on giving up his property, is
released from all his monicd obligations SO
far as the law is concerned. If he should
become possessed Of a million of dollars, the
result Of application to business after hi. fail
urr, he can hold it from all demands of
creditors provided he does not acknowledge
his Indebtedness in writing, or verbally in the
presence Of a witness.
1t often happens that n man WHO has a
good deal Of hopa in his menlak composition,
with Intelligence and energy of character,
gets beyond his depth and fails. This insol-
vent law releases him from the burden Of
debt, and IA wiser and prudent man, he starts
again inthe world. As soon as he is fairly
under way, a certain class Of his former cred
itors approach hinI aud endeavor 10 get from
him some acknowledgment Of his old claim.
Too often it happens that the debtor assumes
enough Of these obligaiioas-whlch are usu-
ally pressed at once-Io swamp him again.
But in general even the strict honest debtor
who intends paying all claims against him, il
ever able-is very cautious not TO acknowl-
edge any thing until he is ready TO pay it.
There are many, however, who positively
refuse, even after becoming comparatively
wealthy, to meet a single obligation contract
ed previously, even though the debts he to
one who greatly needs what is owed to him.
A case Of this Kind occurred with a man
whom we shall designate by the name Of
WoGdfall. He was a fellow of the best tenn
per in the world, and had a high regard lol
justice and honor when they brought dollar,
into his own pocket. He did business rather
carelessly. and failed in consequence. One
Of his creditors, named Jacobs, was a man
who had a large family 10 support. lie coul@
not bear the loss Of five hundred dollars with
out great Inconvenience. On tho day alIel
he went through the mill as it was called
Jacobs met HIM in the road. They botl
lived in a country village.
Il an sorry from my heart at your mis-
fortune said the latter.
And so am H. was returned. But wha
can't be cured must be endured. shall try
again.
with more success, | hope
Doubtless. And then | will remembeI
you Jacobs. | know you have as much ~
you can do to get along, and il grievrs me Il
think that through my failure, you should be
brought into more trodble.'
Il know lift is ever in your power, all vii
be made up to me-
'Your principal AMI interest. shall SCI
the day yet, | hope, when | can look ever.
honest man in the face-when no one can sa.
TO me, Pay me what thou owest.'
If that is your spirit, you will see it,
Il believe so,' was the confident reply
so don't let the loss you have met wit
through me, inconvenience you moe thai
you can help. All will turn out right. You
five hundred dollars may come at a tim'
when they are much more needed then the,
are at present.
After this conversation, Jacobs felt NOR
comfortable. He knew that Woodfall wa
an active, enterprising man, and he believed
that he would, in the course of few years
be in a condition 10 pay him his tige hundred
dollars, principal and interest,"
Time passed on. Woodfall who had KEEP
a store previous TO his failure, managed 4
, got "A new stock Of goods, and again CON
menced business. AT the end of The seconc
year, he had done so well that he was abl,
to build a house. But not a word had h,
said 10 any one, about paying of old scores
4 AT lenglh, Jacobs, poor man, had been grow
ing poorer instead Of richer, thought that
: would be no harm to call his debtors allen
j ton to the fact of his having promised 10 re
. member him. So one day, he called in an
Y said to him IN the presence Of his clerk,-
Mr.. Woodfall, # you think you are abl
TO do a little 70. me--ao matter how little
shall feel greatly obliged. would'n, hs