The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1885-01-02
'Ths Chastity cs Honor" {"


A few years ago New England rail-
way issued large amount Of bonds
Tic reputation Of the company induced
Barring Brothers, The London bankrs-
to take o part Of t,e bonds and recon-
mend them to tllefr customers. Thus
endorsed, the bonds soon found pur-
chasers among the customers Of the
bSnkers. %A
A few months after the issue the rail-
road company was discovered to be in Z
bad financial condition. The discovery
caused great fall In the prico of tho
bonds. It was generally believed that
neither interest nor principal would be
paid.
Immediately upon the bad news
resching London, card to the public
asstired those who had purchased the
bonds on the recommendation of Bar
ing Brothers, thnt both principal and
interest would he paid by tho bankers.
We know not whether this guarantee
was Regarded in England as an ordi-
nary or All extraordinary act. But in
this country there were not wanting
those, such as
"-the jngling Of the guinea helps the hurt
that Honor feels,"
who thought the bankers qu'xotic in
their notion Of what recommend dation
implied,
The transaction, however, is q good
illustration of the working of what
scientists call the law Of heredity.
The hot:ss of Barring Brothers was
founded more than one hundred years
ago, by John Barring, the son Of a Luth-
eran minister. His honesty won tho
esteem of rich merchants who helped
him on in his business. OF Francis
Barring, his son and successor, called by
Lord Shelburne "the prince OF mer-
chants" it was said that few men ar:
fived ut the highest rank of commercial
life with more unsullied integrity"
One of his financial transactions resem-
bles, in spirit. if not in form, the more
recent act fhis grandsons.
Joseph PAIGE, a friend of Francis
Barring, had exhausted his fortune. In
his old age, having no family, he was
very anxious to turn into ready mon
ey the reversion of an estate to
wfifcii he was heir. For q long
time 1lis friend Barring urged
him to retain his rights; but, at last,
finding PAIGE resolved to sell, he bought
it for twenty thousand pounds In few
weeks the original proprietor died, and
Barring found himself owner of a property
for which lie had expected to wait several
years.
Endowed with what Burke calls "that
chastity of honor which felt stain like
wound," Barring sent his friend draft
for seven thousand pounds.
"This SUM, he wrote, ''it is absolute
ly necessary for my peace of mind should
remain without alteration"
Neither myself, he adds, "nor any
of my family will lever receive The return
Of any part of this sum, either now or
hereafter"
At the death Of Sir Francis, in 1910,
It wss said, "he was the first merchant
in England; first in knowledge and
talent, character and opulence
The old banking. house maintains the
reputation of its founders for Chastity
of honor" The law of heredity is illus
trated in this sensitiveness of the chill
dren when they feel their "honor grip"
Herbert Spencer says the Americans
show q tendency to regard lightly dis
honest intentions in their business life.
It is true Of q class, but not Of the whole.
The best American firms have, like the
Barring Brothers, made the chastity of
honor" the foundation o. their success.
Only such firms o1tlive their generation.
--Youth's Companion.