possible for me to pay the Morgan loan in
sixty days, or even to pay my proportion of it. Besides, it was not
that loan by itself, but the half-dozen other loans that would be
required thereafter that had to be considered. This marked another
step in the total business separation which had to come between Mr.
Scott and myself. It gave more pain than all the financial trials to
which I had been subjected up to that time.

It was not long after this meeting that the disaster came and the
country was startled by the failure of those whom it had regarded as
its strongest men. I fear Mr. Scott's premature death[32] can
measurably be attributed to the humiliation which he had to bear. He
was a sensitive rather than a proud man, and his seemingly impending
failure cut him to the quick. Mr. McManus and Mr. Baird, partners in
the enterprise, also soon passed away. These two men were
manufacturers like myself and in no position to engage in railway
construction.

[Footnote 32: Died May 21, 1881.]

The business man has no rock more dangerous to encounter in his career
than this very one of endorsing commercial paper. It can easily be
avoided if he asks himself two questions: Have I surplus means for all
possible requirements which will enable me to pay without
inconvenience the utmost sum for which I am liable under this
endorsement? Secondly: Am I willing to lose this sum for the friend
for whom I endorse? If these two questions can be answered in the
affirmative he may be permitted to oblige his friend, but not
otherwise, if he be a wise man. And if he can answer the first
question in the affirmative it will be well for him to consider
whether it would not be better then and there to pay the entire sum
for which his name is asked. I am sure it would be. A man's means are
a trust to be sacredly held for his own creditors as long as he has
debts and obligations.

Notwithstanding my refusal to endorse the Morgan renewal, I was
invited to accompany the parties to New York next morning in their
special car for the purpose of consultation. This I was only too glad
to do. Anthony Drexel was also called in to accompany us. During the
journey Mr. McCullough remarked that he had been looking around the
car and had made up his mind that there was only one sensible man in
it; the rest had all been "fools." Here was "Andy" who had paid for
his shares and did not owe a dollar or have any responsibility in the
matter, and that was the po