Year: 1878

and obtained fair prices for them.


AT the end of five years we had paid
off our debt and had nearly one thou
sand dollars in the bank, and we felt
that it would be safe to build new
house, although we expected to put
more than the amount of money on
hand, into it.


In the meantime there had come
into the neighborhood one of the most
companionable men L ever met He was
familiarly known as Captain Cole. He
had been a lawyer, but had been APP
pointed by the General Government to
a lucrative Office, which he held for
some years, and had the reputation of
being wealthy. He lived in good style,
and was a general favorite in all the
community.


When my house was finished
found myself in debt seven hundred dol
lars, and as L had given the contract to
a carpenter, who furnished everything
in the building, he needed all his money
went to the bank to borrow the amount





let me have it for one or two years, and
not being accustomed to borrow money
it did not occur to me that an indorser
would 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 overheard the conversation and
came forward with pleasant, Good
morning. saying, l shall only be too
happy to indorse for my friend, Mr..
Day. felt both grateful and flattered,
and when few months later happened
to be in the bank when he wanted an
indorser, was glad to return the favor.


"We had two years of prosperity and
paid the debt on my house. L now de-
termined to build fine barn, and as L
had always paid my debts easily and
could not well get along with my old
barn until I had saved the money to
build the new one, L determined to bor-
row one thousand dollars, and happen
ing to meet Captain Cole asked him if
he knew where L could get that amount
for three years. He told me he did, and
offered to become my security. The
money was borrowed and my barn be-
gun.


GA few weeks later Capt. Cole called
to see me. Like Squire Black to-day,
he seemed delighted with everything he
saw. His flattery put me in the best
possible humor, and when he asked me
to endorse note of five thousand dol
lars for sixty days, and assured me he
could meet it Tor twice as much) prompt
ly, to the day, L consented against my
better judgment, and affixed my sigma
ture to the note. That act ruined me.
Before the sixty days had expired 1
learned that he was bankrupt. My
farm was sold at sacrifice, under the
hammer, and when paid the thousand
dollars which had borrowed to build
the barn with, was left penniless.


"With my history in your possession
do you wonder that was alarmed to-
day when saw you fall into the same
trapY L tell you have right to feel
deeply on this subject. Would that 1
could make my voice heard by every
young man in the land. would
say to him, shun as you would SER
pent this evil which has brought ruin to
so many families. / realize fully what
it means to put my name on another
mans paper, and it is just this--that /
assume all the risks of his business
without any voice in its management or
any possible chance of profit if he is
successful but with a fearful certainty
that if from any cause he makes o fail
ure, my earnings must make it good,
even though it reduces my family to
beggary. Since my own misfortune L
have made this matter study, and 1
find that very large per cent. of the
business failures of the country land
nearly all among farmers) are due to
this practice.


The remainder of my story is soon
told. My father was deeply impressed
with Mr.. Days story, and before night
was dispatched to Squire Blacks with
note from father stating that after
carefully considering the matter, he had
decided not to sign the note. In less
than a year after this Squire Black was
declared bankrupt, and at the final set
tlement of his business it did not pay
ten cents on the dollar.


Father felt that he owed debt of graf
itude to Mr.. Day, and he presented him