merchant does not bring failure upon himself if business is good and
he can help it, because, if he has ever been through one, he knows
that the bust-up does him a great deal more harm than good. It makes
'credit' hard for him after that. But, you find lots of merchants who,
when business gets dull, and they must fail, will either skin their
creditors completely or else settle for as few cents on the dollar as
possible.

"Well, I had a man in market, once, when I was traveling out of
Philadelphia, who had 'settled' for 35 cents on the dollar. He had
come out of his failure with enough to leave him able to go into
business again, and, with anything like fair trade, discount all his
bills. I knew the season was a fairly good one and felt quite sure
that, for a few years anyway, my man would be good. What was lost on
him was lost, and that was the end of it. The best way to play even
was on the profits of future business.

"But our credit man, a most upright gentleman, wasn't particular about
taking up the account again. However, there I was on a commission
basis! I knew the man would pay for his goods and that it was money in
my pocket--and in the till of the house--to sell it.

"I had seen my man at the hotel the evening before and he'd said he
would be around the next morning about ten o'clock. I went down to the
store before that time and talked the thing over with the credit man.

"Don't want to have anything to do with that fellow,' he said. 'He
skinned us once and it's only a matter of time until he'll do it
again.'