Southern sentinel. [volume] (Plaquemine, Parish of Iberville [La.]) 1848-1858, 1857-01-31
Endorsing Motes.

There IS moral in the following well
considered remarks from the Philadelphia
Ledger, which should be often pondered.
Wives, read them TO your husbands:
It was well said, BY very shrewd OBJ
server, that there are some things which
every man has to learn for himself. It
would seem as if the folly Of endorsing
what is called accommodation paper was
one Of them. Tens Of thousands have
been ruined in this way, yet tens Of thou
sands continue 70 practice If. Many who
endorse paper with impunity for years dis
cover, at last, that they also, in spite of
their assertions tha' they would never be
losers by it, are brought to bankruptcy BY
it. Sir Walter Scott, who had gone on
from year to year, adding acre to acre,
farm to farm, woke one morning to find
that he was ruined through his endorse
nents on ConstahIe's paper; and the rest
Of his life shortened by excessive labor,
had to be devoted, to carrying out the
fayorite dream Of his ambition, that Of
llquidating the debt thus contracted
Even Barnum, whose name had become
synonymous with shrewdness, fell before
this delusive habit. A calm observer is
almost led to believe that there is an infa-
tuation accompanying the practice If en-
dorsing notes, which Iulls sagacity to
sleep, else how can we account for the
fact that 50 many able men have, so to.
speak, gambled away their fortunes on
this mercantile rouge ct noir. No man
ought ever to endorse an accommodation
note. The fnanciering which raises mon
ey III this way j radically wrong. Gene
rally regarded as the cheapest, it is really
the very dearest method; for the friend
who endorses for you is sure, some time,
to want an endorsement in return; and he
who once begins to endorse for another,
has put his fortune at the risk of a hundred
casualties beyond his own control. It il i
game of hazard which, once commenced,
hardly ever can be stopped. Money can
be got.so readily by endorseing that the
temptation is great to enter on specula-
tions that would never otherwise be
thought Of, aud hence it itreqnires the cool
est ofheads and the most prudent Of ope-
rators. 10 resist becoming too extended
when d habit ofexchanging endorsements
has been fallen into. Nine men out Of
ten, sooner or later, get beyond the depth.
Hard times come on, and the insolvency
follows. as matter of course. IT is al
ways wiser to raise money on bona fde
security; and If these cannot be had, then
to curtall ones business as fast as posi-
BILE. Where two men are in tire habit of
exchanging endorsements they are really
in partnership together; but partnership
only Of risk, not Of profits; and, worse
yet, d partnership In which neither can
control the other. So far, we have been
speaking of cases III which there was a
mutual consideration between the parties,
an exchange Of endorsements; Whatsh
we say of the man who endorses from mo.
tiFes of private friendship, and not as
business affair at allg Hundreds ofsuch
men there are who indorse notes for So
cial intimatea, TO whom they would
scarcely sell bill Of goods Oh credit, sim
ply because they have not the moral cour-
are to say 10. HWould BE- wiser, In such
instances to give the applicant at once
whatever you can afford to throw away,
for then you know where you ARE; be-
cause if you endorse for him, he may in
volye ron for larger amount than you
can pay; and Be sure 0f one thing, when
you pay, as most likely you will, it will be