The daily exchange. [volume] (Baltimore, Md.) 1858-1861, 1858-07-17
SOME HINTS ON ENDORSING, AND OTHER


From the Ne,o York Journal Of Commerce.
The public are treated to SO many legal lodges
on the part of debtors, and there are now many
articles adopted to prevent the collection OF ac-
knowledred dues, that the laws upon this subject
are regarded as little better than a nuity, and
many very sensible people are prepared to vote for
their entire repeal, leaving all pecuniary obliga-
TONS not fraudulentlv contracted to be collected
adopt this alternative but there is certainly great
room for reform in the administration of our civil,
as well as criminal Jurisprudence. what we need,
however, is less change OF organic or even
statute law, than a wholesome reform OF lndl-
vidual opinion and practice. We want more OF
that sterling integrity which will lead man to
perform his vow, undertaking. even though he
has sworn "to his own hurt An endorser, IN too
many cases, in these DAYS, acknowledges no oblga-
ton to make good the default of his principal
provided he can escape by any legal evasion. His
endorsement is made to take the form OF recon-
mend instead of a guaranty. lie writes his name
across the back of note to express his belief that
the maker will pay it, not with any design to rem
der himself liable for such payment. If the maker
does not pay it, the endorser puts on the air of
aggrieved person who has been deceived and as
sumes that it would be the heghth of injustice tt
compel him to advance money for one who has thu
disappointed him. This spirit extends even to thu
principals, and there are too many makers of notes
who will avoid if possible, the enforcement of tn
contract upon the fmsiest prcteXts.
The obligation was given for the purchase of pro
perty that did not turn out as represented; or i
was exchanged for something which proved to b.
of less value than anticipated; or it obtain
ed without the exchange of an equivalent promised
In the meantime, it has passed into the hands of a.
innocent holder, who is thus kept out OF his lega
| and proper dues because the person on whom th
| obligation of payment rests has some cause Of quar-
raj, real or imaginary, against third party. 1t
undoubtedly hard case for man to be swindlcd
even though he has been careless too trustu; bU
the true course for such victim is to fulfill his ow
obligation, and look sharper when he makes hi
next bargain. Even when the note of obligation
held by person who wronged him, it is seldom tn
best policy to repudiate it, as method OF forcing
| lust settlement. The faint attaching to VIII
has repudated his contract for any is poorl
paid for by triumph over the wrong docr, wi
has obtained it under false pretences: and the ca
of fraudulent requirement must be very clear to u
tfv the maker of a note in such defence. The
is no characteristic of gentleman to be named b
fore solemn regard for his ,rord and he who che
ishes this regard in his business relations, will iii
in the end, that it leads, by the only safe path,
true independence.
The same remarks will apply to States and Go
porations During the height Of the fever for bull
ING new railroads. there were plenty Of endorse
for railroad bonds; and now that the eXcitemc
has been followed by a collapse, great ma jority
these end0rsers endeavoring to shirk the
, yponsibiity they have assumed. No! gentlemen
stick to your pledges, and redeem your promises.
If YOU come out of this with less money, v
will retain far more honor, and the experience M
be worth all that it costs you.