The daily crescent. [volume] ([New Orleans, La.]) 1848-1851, 1850-05-11
The Poor Debtor.

The Poor Debtor.
Bv T. Z. ARTHUR. 4f tfa
There is one honest man in the world, 1 am
happy to say" remarked rich merchant named
PeHon to 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 indi.
vidual entitled to the honorable distinction 20
You know Moale, the tailor2"
Yes. Poor fellow he's been under the weather
for long time"
81 know he has. But he's an honest man for all
that" Si! eF
never doubt his being as honest man as ever
breathed, Mr.. Petron.n s...
Il have reason to know that he is. But once
had my doubts. When he was broken up in busi-
ness, some years ago, he owed me little bill,
which tried to get out Of him as hard any one
ever did try for his own. But dunned and dunned
him until got weary and then, giving him up as
hard case, passed the trife that he owed me to
account Of profit and loss. He has crossed my path
few times since; but, / didn't feel towards
him as could wish to feel towards all men,
treated him with great coldness. am sorry for
having done SO, for il now appears that Judged
him too severely. This morning he called in cf
his own free will, and paid me down the old ac-
count He didn't say anything about interest, nor
did |, though am entitled to, and ought to have
received it. But as long he came forward Of his
own accord and settled his BILL after had given up
all hope Of ever receiving it, thought might
afford to be little generous and not say anything
about the interest; and so gave him receipt in
full. Didn't do right? /"
:" In what respecti', asked the friend. ta
+" In forgiving him the interest, which might
have claimed as well as not, and which he would,
no doubt, have paid me down, or brought me at
some future time"
"Oh, yes. You were right to forgive the in
terest returned the friend, but in tone and with
manner that struck the merchant as rather singu-
lar. No man should ever take interest ON money
due from an unfortunate debtor"
"Indeed! Why mott" Mr.. Petron looked sur
prised. Is not money always worth its interest .
+" So it is said. But the poor debtor has no mo-
ney upon which to make an interest. He begins
the world again, with nothing but his ability to
work; ; and, ifsaddIed with an old debt-principaI
and interest-his case is hopeless. Suppose he
owes $4,000, and, after struggling hard for three
or four years. gets into position that will enable
him to pay off $1,000 a year-there is some chance
for him to get out Of debt in ten years. But sup
pose interest has been accommodating, at the rate Of
some $500 q year. His debt, instead Of being
500 viii have increased 70 $ls 900 by the
time he is in condition to begin to pay off any
thing; and then, instead Of being able to reduce
the amount $1,000 year, he will have to let $500
go for the annual interest on the original debt.
-Four years more would have to elapse before, I'M
der this system, he would get his debt down to
| where it was when he was broken up in business.
Thus, at the end of eight years hard struggling,
| he would not really have advanced step out Of
his difficulties. debt of $4,000 would still be
hanging over him. And if, peEsevering to the end,
he should go on paying 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, acting from the COM
monest dictates of humanity, voluntarily released
the interest. I"
"That is new view Of the case, must confess
at least new to me, said Mr.. Petron. it.
1t is the humane view of the case. But look
ing to interest alone, il is the best view for every
creditor to take Many a man who, with little
effort might have cancelled, in time the principal
of debt unfortunately standing against him, be-
comes disheartened at seeing it daily growing larger
through the accumulation Of interest," and gives up
in despair. The desire to be free from debt spurs
many 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 lost every year in conss-
quence of creditors grasping after too much and
breaking down the hope and energy Of the debtors"
Perhaps you are right said Mr.. Petron; that
view Of the case never presented itself to my mind
don't suppose, however, the interest on fifty dol
lars would have broken down Moale.'
There is no telling. 1t is the last pound, you
know, that breaks the camers back. Five years
have passed since his day of misfortune. Fifteen
dollars interest is, therefore, due. have my doubts
if he could have paid you sixty-five dollars now.
| Indeed, am sure he could not. And the thought
of that as new debt for which he had received no
benefit whatever, would, it is more than probable
have produced discouraged state of mind and
made him resolve not to pay you any thing at all
But that wouldn't have been honest" said tn,
/ merchant. IN
| perhaps not, strictly speaking. To be dishones
is from e set purpose TO dsfrand-to take from an
other what belongs to him or to withhold from
another when ability exists pay what is justly his
due. You would hardly have placed Moale in
either of these POSITIONS if from the pressure of the
i air him a nO0 and
| in debt he had failed 10 be as active, industrious
and prudent as he would otherwise have heen.
We apt to require too much OF the poor debior,
and to have too little sympathy with him. Let the
hope of improving your own eondition-which is the
l main spring of all you business transactions-be
taken away and instead let there be only the de-
sire to pay off old debts through great labor and
selfdenial, that must continue for years, and I'M
agine how differently you would think and feel to
what you do now. Nay, more, let the debt be
owed to those who are worth their thousands and
tens of thousands, and who in the enjoyment OF
every luxury and comfort they could desires while
| you go on paying them what you owe, by over-ex-
ertion and the selEdena to yourself and family OF
all those little luxures and recreations which both
| SO much need, and then say how deeply dyed
| would be that dishonesty which would cause you,
| in moment of darker and deeper encouragement
than usual to throw the crushing weight from your
| shoulders, and resolve to bear it no longer. You
must leave man some hope in life if you would
keep him active and industrious in his sphere"
Mr.. Petron said nothing in reply to this, but he
| looked SOBER His friend soon after left.
The merchant, as the reader may infer from his
| own acknowledgement, was one Of those men
whose tendency to regard only their own interest,
| has become confirmed habit that they can see
nothing beyond the narrow circle of self. Upor
debtors he had never looked with particle of sym
| pathy; and had, in all cases, exacted his own as
| rgdly as if his debtor had not been creature o
human wants and feelings. What had just been
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