The freeman. (Fremont [Ohio]) 1849-1850, 1850-04-13
isrrllanrons o II 8 .
THE POOR DEBTOR.
BY T. S. ARTHUR.

4 -
There is one honest man in the world, am
ihappy to.say,' /, marked rich merchant nam
ed tetron, TO a friend, who happened to call
| IN upon him.
is there indeed! am glad TO find you
have made discovery Of the fact Who is
the Individual entitled to the honorable dis
tnction?'
You know Moale, the tailor?'
yes, poor fellow! he's been under the
weather Tor long time
| i know he has But he's an honest man
| for all that
i never doubted his being as honest man
as ever breaIhed, Mr.. Petron.'
Il have reason 70 know that he is. But l
once had my doubts When he was broken
| up in business, some years ago, he owed me a
hltle bill, which tried to get out of him as
hard as any one ever did try for bis own. But
II dunned and dunned him until got weary,
and then giving him up as bad case, passed
the tritie that he owed me to account oI profit
and loss. He has crossed my path few times
since but, as | didn't feel towards him as /
anuld wish to feel towards all men, treated
him with great coldness i am sorry for hav-
lug done so. for it now appears that judged
nun toosseyerely. This morning he called in
of his own free will and paid me his old ac-
count. He didn't say any thing about inter
est nor did |, though | am entitled to, and
fought to have received it. But as long as he
came forward of his own accord and settled his
bill, after I had given up all hope of ever re-
ceiving it, though might afford to be a lit
tie generous and not say any thing about the
interest; and so gave him "A receipt in full.
Didn't do right 2
In what respect 2 asked the friend.
In forgiving him the interest, what l might
have claimed as well as not, and which he
would no doubt, have paid me down, or brot
me some future time
oh, yes ou were right to forgive the in
terest, returned the friend, but iii a tone and
with manner that struck the merchant as
rather singular. No man should ever lake
interest on money due from an unfortunate
debtor.
Indeed! Why not?' Mr. Petron looked
surprised. Is not money always worth its in
terest!!'
So il is said. But the poor debtor has no
money, upon which to make an interest He
begins the world again with nothing but his
ability to work and ii saddled with an old
ldebs-principal and interest--his case is hope
less Suppose he owes ten thousand dollars,
aud after struggling hard for three or four
years gets into ii position that will enable him
To pay of a thousand dollars a year, there is
some chance for him to get out of debt in ten
years But suppose interest mas been accu-
ifnulatro at the rate of some five hundred dol
lars a year. HIS debt. instead of being ten
Thousand, will have increased 20 twelve thou
sand dollars By the time he is in a condition to
/ begin to pay OF aaythihg: and then, lT.stfad
OF being able to leaaoe the amount Thousand
dollars IL year, he will have tglet iiyl hundred
90 tor the annual interest lhe original debt
-Four years more would have to elapse before,
under this system, he would geths debt down
to where it WAS when he was broken up in
business Thus, at the end IF eight years
hard struggling, he would not really, have ad-
yanced step out of his difficulties. A debt
of ten thousand dollars would be still hanging
over him. And, if persevering to the end, he
shoald go or payiag the interest regularly and
reducing the principal, some twenty five years
of his life would be spent in getting free from
debt, when little over half that time would
have been.required, if his creditors had, act
ing from the commonest dictates of humanity,
voluntarily released the interest
That is new view of the case, must con-
fess-at least new to me- said Mr.. Petron
1T is the humane view of the case. But
looking to the interest alone, tits the best view
for every creditor to take. Many a man who,
with little effort, might have cancelled, in
time, heprincipal of a debt unfortunately stand
ing against him, becomes disheartened at see
ing it daily growing larger through the accu-
mutation of interest, and gives up in dispair.
The desire to befree from debtsspur many a
man into effort. But make the difficulties in
his way so large as to appear insurmountable
and he will fold his hands in helpless inactivity
Thousands of dollars are lost every year IN
consequence of creditors grasping after too
much, and breaking down the hope and ener
gy of the debtors -
Perhaps you are right aid(Mr. Petron-
That view of the case never presented itself to
my mind. don't suppose, however, the in
terest on Fifty dollars would have broken down
Moale.'
There is no telling. 1t is the last pound,
you know that breaks the camel's back. Five
years have passed since his day of misfortune.
Fifteen dollars interest is therefore due. l
have my doubts if heeeufd have, paid you six
ty-fve dollars now. Indeed, am sure he
could not. And the thought of that as a new
debt, for which he had received no benefit
whatever, would, is more than probable, have
produced discouraged state of mind, and
made him resolve not to pay you anything at
ALL
But that wouldn't have been honest said
the merchant
Perhaps not, strictly speaking. To be dis
honest is from a set purpose to defraud--to
take from another what belongs to him; or to