f not to get puffed up with any foolish notions.

My loans from my father were many. Our relations on finances were a
source of some anxiety to me, and were not quite so humorous as they
seem now as I look back at them. Occasionally he would come to me and
say that if I needed money in the business he would be able to loan
some, and as I always needed capital I was glad indeed to get it, even
at 10 per cent. interest. Just at the moment when I required the
money most he was apt to say:

"My son, I find I have got to have that money."

"Of course, you shall have it at once," I would answer, but I knew
that he was testing me, and that when I paid him, he would hold the
money without its earning anything for a little time, and then offer
it back later. I confess that this little discipline should have done
me good, and perhaps did, but while I concealed it from him, the truth
is I was not particularly pleased with his application of tests to
discover if my financial ability was equal to such shocks.

INTEREST AT 10 PER CENT.

These experiences with my father remind me that in the early days
there was often much discussion as to what should be paid for the use
of money. Many people protested that the rate of 10 per cent. was
outrageous, and none but a wicked man would exact such a charge. I was
accustomed to argue that money was worth what it would bring--no one
would pay 10 per cent., or 5 per cent., or 8 per cent. unless the
borrower believed that at this rate it was profitable to employ it. As
I was always the borrower at that time, I certainly did not argue for
paying more than was necessary.

Among the most persistent and heated discussions I ever had were those
with the dear old lady who kept the boarding-house where my brother
William and I lived when we were away from home at school. I used to
greatly enjoy these talks, for she was an able woman and a good
talker, and as she charged us only a dollar a week for board and
lodging, and fed us well, I certainly was her friend. This was about
the usual price for board in the small towns in those days, where the
produce was raised almost entirely on the place.

This estimable lady was violently opposed to loaners obtaining high
rates of interest, and we had frequent and earnest arguments on the
subject. She knew that I was accustomed to make loans for my father,
and she was familiar with the rates secured. But all the arguments in
the world did not change the ra