is moderation. The forty
thousand dollars I owed my cousin will be amply repaid to his heirs,
though I pass my life in jail."

"You misapprehend the affair, entirely. Mr. Daggett does not hold
Clawbonny as administrator at all; but as a purchaser under a mortgage
sale. He did not buy it himself, of course; but has received a deed from a
nephew of his, who was a _bond fide_ bidder. The amount bid,--five
thousand, two hundred and fifty dollars,--is duly endorsed on your bond,
and you have credit for it. If no one bid higher, the property had to go."

"Yes, sir: I very well understand how property goes, in the absence of the
debtor, at forced sales. But what is the nature of the proposition you
intend to make?"

"Mr. Daggett understands you possess some very valuable pearls, that are
supposed to be worth one thousand dollars, with a good deal of plate, &c.,
&c. Now he proposes that you assign to the estate he represents all your
personals at an appraisal, when he will credit you with the amount, and
suspend proceedings for the balance. In a word--give you time."

"And what idea has Mr. Daggett of the sum I should thus receive?"

"He is disposed to be liberal, and thinks you might get credit for about
four thousand dollars."

"My personal property, including the pearls of which you speak, quite a
thousand dollars worth of plate, even at the price of old silver, the
sloop, the stock, horses, carriages, farming utensils, and without
counting the slaves, all of whom I intend to set free, if the law will
allow it, must nearly or quite double that sum, sir. Unless Mr. Daggett is
disposed to raise his views of the value of my effects, I should prefer
to remain in custody, and see what I can do by private sale. As he will
receive every cent of the securities received from my sister's estate,
quite $22,000, and now possesses more than $5,000 from Clawbonny, the
balance I shall really owe cannot exceed $13,000."

"Were you to confess judgment, sir, and leave the property under
execution--"

"I'll do nothing of the sort, Mr. Meekly--on that subject my mind is made
up. One forced sale is quite enough for a novice."

"We shall soon reach the jail, sir--perhaps its sight may--"

"It will not, sir. Whenever Mr. Daggett shall be disposed to receive my
property at a just valuation, I may be ready to arrange the matter with
him, for I have no disposition to deny the debt, or to avoid its payment;
but, as he has adopted his own mo