attempted to make our assignment to our generous creditors we paid them,
not fifty cents on the dollar, but one hundred, with compound interest.
It was a glad surprise to them, but a much greater joy to us. O, boys!
better it is to step forth clear of debt; to be able to look every man
in the eye; to feel that you owe no man anything, than to own the mines
of California, Arizona, or the whole of a Pacific Railroad! I cannot
describe to you the exquisite pleasure it gave us to pay out that money.
Those who have never experienced losses and embarrassments can scarcely
understand it.

"We now had a fresh start in business, with a good stock on hand,
boundless credit, and no debts. We soon came to the front rank among
merchants. Indeed, so successful were we, that on my fiftieth birthday I
resolved to retire, feeling that I was rich enough. My dear grandfather,
who had entered into rest some years before, had left me The Grange, in
which my earliest years had been passed, and here, amid the beautiful
scenes of nature, and with still a large scope for my activities, I have
enjoyed years of happiness. My dear friend, Howard, had landed property
in one of the Western States and fancied there was more elbow-room there
for his children who were settling in life; so at last we were obliged
to separate. He has risen, as you know, to prominence, being the most
popular governor of the State they have had for years, and even
political opponents are loud in praise of his integrity and fidelity to
trusts.

"I need scarcely say a word to show the meaning of my simple tale. A
life of unspotted integrity and honor is the only life worth living; and
to love God and keep his commandments is the only safeguard. You may
have a good disposition, but that is not enough. You may have been well
trained and instructed, but that is not enough. Your father may be the
very soul of honor and to be trusted with uncounted gold, but virtue is
not an inheritance, and you must be honest for yourself, self-denying
for yourself, diligent for yourself, if you wish to build up a character
respected by men and pleasing to God. 'Tis true, this is only one part
of your duty, but it is a very important part. Truth and rectitude are
pillars in family life, and the very bulwarks of society. If these fail,
all else fails.

"And now, a pleasant and a dreamless sleep to you all. To-morrow you
return to the studies and duties of the new year, which has begun so
happ