Herald of the times, and Rhode Islander. [volume] (Newport, R.I.) 1846-1849, 1847-04-15
,WhOle No. S77.

AA"'~ "" IVY ''B"' w ~~'P'
\ Others will have il, If ! have not
lfyou seize upon my goods, and force .
sale Of them for one-fourth Of what they
are worth, you injure the interest ofmy
other creditors. They have rights %
well as yourself
n Let them look after them, then, as I
am looking after mine. II is as much
as can do TO see TO my own interests
But it's no use for you 10 beg. Ii you
can pay the money o. give security,
well, if not, things will have to take theis
course
'On this you are resolved
q am
4 Even with the certainty Of entirely
breaking me up ?
That have told you, is your own
look oul, not mine
'All have to say, then, is,' remarked
Layton as he turned away, that sin
cefely hope that you may never be
placed in my situation f; or, If so unfor-
tunate, that you may have a more hu-
name man to deal with than ! have
'Tbank you = was cuttingy replied,
shut you nesdn', waste sympathy on no
in advance. never expect to be III
your position. | would take the shirt off
nv back before | would allow man to
ask me for dollar justly his due, with
out promptly paying him
Finding that all his appeals were in
vain, Layton retired from the STORE Of
his unleeIng creditor. 1t was too late,
now, to make a confession OF Judgment
TO some other creditor, who would save,
by an amicable sale, the property fraW
sacrifice, and thus secure il for the bene-
fit Of all Grasper had already obtained
judgment and taken out an execution,
under which a levy had been made by
the sheriff, aud sale was ordered to-
take place in a week. Nothing could
hinder the onward progress of affairs to-
a disastrous crisis, but the payment Of
the debt, or its security. As neither the
one nor the other was possible, the sale
was advertised, the store Of Layton
closed, and The sacrifice made. Goods
that cost four times the amount Of Gras-
per's claim, were sold for just enough to
lie for the other creditors. These were
Immediately called together, and all that
the ruined debtor possessed in the world
given up to them.
Take my furniture and all, he said.
Even after that is added to this poor
remnant, your claims will be very far
from satisfied. Had | dreamed that
Grssper was so selfish a man as o disre-
gard every ones interest in the euger
pursuit of his own, would, long before
he had me in his power, have made a
general assignment for the benefit Of the
whole. But it is too late now, for Ie-
grets they avail nothing. still have
health, and an unbroken spirit. am
ready to try again,i and, IL may be, that
success will crown my efforts. IL so,
you have the pledge Of an honest man,
that every dollar Of present deficit sholl
be made up. Can ] say more ?
Fortunately for Layton there was no
Grasper among the unsalsfied portion Of
his creditors. lie was pitied more than
censured. Every man said No., TO the
proposition to surrender op his house
hold furniture.
Let that remain untouched. We
will not visi, your misiortunes upon your
family
After all his goods had beeD sold of
to the bes, advantage, a little over sixty
cents on the dollar was paid The loss
to all parties would have been light, had
Grasper not sacrificed 20 much TO secure
his own debt.
Regarding Layton rs an honest man,
and plying his condition, with large
family on his hands to provide for, lew
of his creditors had u conference on the
subject of his affairs, which resulted in
determination 10 make an effort 10 put
him on his fee, again. The first thing
done was to get all parties 10 sign per-
manem release Of oblig cations still held
az aims, him, thus making him free from
all legal responsibilities for past unnsac-
tons. The next thing was TO furnish
him with q small, snIeable stock Of goods,
on a liberal credit.
On this basis, Layton started again in
the world, with con6den, spirit. The
| old store was given up and n new one