The Cambria freeman. [volume] (Ebensburg, Pa.) 1867-1938, 1878-06-28

ionable men l ever met He was familiar
ly known as Captain Cole. He had been a
lawyer, out had been appointed by the Gen
eral government to a lucrative office. which
ne held for some years, end had the repu-
tation OF being very wealthy. He lived i'm
good style. and was general favorite in
the community.
wv hen my house was finished I found
myseu In debt about 500. and as I had
given the contract to a carpenter, he to fur
nlsh everything, he needed all his money.
went to the bank to borrow the amount
until L could find some one who would let
me have it for one or two years. and, not
being accustomed to borrow money il did
not occur to me that an indOrser wouId
be necessary until the cashier of the bank
informed me that it was their invariable
custom TO require security. Captain Cole
who happened to be in at the time, over
heard the conversation and came forward.
with pleasant Good morning. saving !:
Il shall be only too glad to indose for NV
friend Day. felt both grateful and fiat
tered, and, when, few months later,
happened to be in the bank, when he want
ed an indorse-, was too glad to return the
favor.
eve had two years of prosperity and I
paid the debt on my house. l now deter
mlned to build a fine barn, and as had
always paid my debts easily and could not
well get along with my old barn until had
saved the money to build one, determined
to borrow one thousand dollars, and hap
pening to meet Captain Cole l asked him
II he knew where l could get that amount
tor three years. He told me be did, and
offered to become my security. The money
was borrowed and my barn begun.
IA few weeks later Captain Cole called
to see me. Like Squire Black to-day, he
seemed delighted with everything he saw.
His Hattery put me in the best possible hu-
NOR, and when he asked me TO indorse
note of $4,000 for sixty days, and assured
me that he could meet it (or even twice as
much) promptly to the day, l consented
against my better judgment, and affixed my
signature 20 the note. That act ruined me.
Before the sixty days had ex pired learn
ed that he was a bankrupt NY farm was
sold at sacrifice, under the hammer, and
when had paid the thousand dollars which
had borrowed to build the barn with, l
was left pennieSs.
with my history in your possession, do
you wonder that | was alarmed to day
when l saw you about to fall into the same
trap? L tell you 1 have right to feel
deeply on this subject Would that l could
MAKE. my voice heard by every young man
i'll the land. l would say 20 him, shun as
you would serpent this evil which has
brought ruin to so many families. | realize
Iuily what IL means TO put my name on
another mans paper, and it is Just this
that [ assume all the risks of MS business
without any voice in its management or
any possible chance of profit if he is sue
cessful but with fearful certainty that
If from any cause he makes failure, my
earnings must make it good, even though
it reduces my family to beggary. Since
my own misfortune [ have made this a
matter of study, and | find that very
large per cent of the business failures of
the country (and nearly all among farmers)
are due to this practice" The remainder
Of my story is soon told. My father was
! deeply impressed by Mr.. Days story, and
before night l was dispatched to Squire
Blacks with a note from father stating
that after carefully considering the matter
he had decided rot to sign the note. In
less than year after this Squire Black
was declared bankrupt, and in the final
settlement of his business it did not pay
ten cents on the dollar.
Father felt that he owed debt of graft
tude to Mr.. Day and he presented him with
good team and helped him to rent farm.
This encouraged him and he wol ked so
industriousIy and managed so prudently
that in few years he was able to buy a
! small farm aud has since been able to sup
port his family comfortably.
Many years have passed since these events
transpiIed and | am now past middle life,
| but have never ceased to be thankful for
the lesson taught me by Mr.. Day, and in
| fulfilling his wish | would repeat the lesson
which the story teaches-Never IndOrse.