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Off-Hand Sketches

<h3> THE PROTEST. </h3> READER! did you ever have a visit from that dreaded functionary—that rod in pickle, held in terrorem over the heads of the whole note-paying fraternity, yclepted a notary? I do not mean to insult you: so don't look so dark and dignified. I am serious. If no—why no, and there let the matter rest, as far as you are concerned; if yes, why yes, and so I have an auditor who can understand me. As for me, I have been protested. I say it neither with shame nor pride. Yes, I have suffered notarial visitation, and am still alive to tell the tale. I was in business when the exciting event occurred, and I am still in business, and I believe as well off as I was then. But let me relate the circumstance. When I first started in the world for myself, I had a few thousand dollars. In a little while, I found myself solicited on all sides to make bills. I could have bought fifty thousand dollars' worth of goods as easily as to the amount of five thousand dollars; and the smallest sum I have named was about the extent of my real capital. There was one firm importunate above the rest, and they were successful in getting me into their debt more heavily than I was to any other house. If I happened to be passing their store, I would be called in, with— "Here, Jones, I want to show you something. New goods just in; the very thing for your sales." Or— "Ah! how are you, Jones? Can't we sell you a bill, to-day?" They were for ever importuning me to buy, and often tempted me to make purchases of goods that I really did not want. I was young and green then, and did not know any thing about shelves full of odds and ends, and piece upon piece of unsaleable goods, all of which had to be paid for. For two or three years, I managed to keep along, though not so pleasantly as if I had used my credit with less freedom. By that time, however, the wheels of my business machinery were sadly clogged. From a salesman behind my counter, I became a "financier." (!) During the best hours of the day, and when I was most wanted in the store, I was on the street, hunting for money. It was borrow, borrow, borrow, and pay, pay, pay. My thoughts were not directed toward the best means of making my business profitable, but were upon the ways and means of paying my notes, that were falling due with alarming rapidity. I was nearly all the time in the delectable state of mind of the individual who, on running against a sailor, was threatened with being knocked "into the middle of next week." "Do it, for heaven's sake!" he replied—"I would give the world to be there." On Monday morning, I could see my way through the week no clearer than this note-haunted sufferer. In fact, I lived a day at a time. On the first of each month, when I looked over my bill-book, and then calculated my resources, I was appalled. I saw nothing ahead but ruin. Still I floundered on, getting myself deeper and deeper in the mire, and rendering my final extrication more and more difficult. At last, I found that my principal creditors, who had sold me so freely from the first, and to whom nearly the half of what I owed was due, began to be less anxious about selling me goods. They did not call me in, as of old, when I passed, nor did they urge me to buy when I went to their store. Still they sent home what I ordered; but their prices, which before were the lowest in the trade, were now above the average rates. I noticed, felt, and thought I understood all this. I had been careful not to borrow money from that firm; still, I was borrowing, somewhere, every day, and they, of course, knew it, and began to be a little doubtful of my stability. At last, I was cornered on a note of a thousand dollars, due this house. Besides this note, I had fifteen hundred dollars of borrowed money to pay. At nine o'clock, I started forth, leaving good customers in the store, to whom no one could attend as well as myself. By twelve o'clock, I was able to return my borrowed money, and had the promise of a thousand dollars by half-past one. Until half-past one I waited, when a note came from the friend who had promised the loan, informing me with many expressions of regret, that he had been disappointed, and, therefore, could not accommodate me. Here was a dilemma, indeed. Half-past one o'clock, and a thousand dollars to raise; but there was no time for regrets. I started forth with a troubled heart, and not feeling very sanguine of success. Borrowing money is far from being pleasant employment, and is only endurable as a less evil than not meeting your obligations. For that day, I had thought my trials on this head over; but I erred. I had again to put on my armour of brass and go forth to meet coldness, rebuffs, and polite denials. Alas! I got no more; not a dollar rewarded my earnest efforts. Two o'clock found me utterly discouraged. Then, for the first time, it occurred to me to go to the holders of the note and frankly tell them that I could not lift it. "But that will ruin your credit with them." Yes, that was the rub; and then it was so mortifying a resource. After a short space of hurried reflection, I concluded that as I had twice as much credit in other quarters as it was prudent to use, I would ask a renewal of the note, which would be a great relief. It was better, certainly, than to suffer a protest. At the thought of a protest I shuddered, and started to see the parties to whom the note was due, feeling much as I suppose a culprit feels when about being arraigned for trial. It was twenty minutes past two when I called at their store. "I am sorry," I said to one of the firm, whom I first met, speaking in a husky, agitated voice, "to inform you that I shall not be able to lift my note that falls due to-day." His brows fell instantly. "I had made every arrangement to meet it," I continued, "and was to receive the money at one o'clock to-day, but was unexpectedly disappointed. I have tried since to raise the amount, but find it too late in the day." The man's brows fell still lower, while his eyes remained steadily fixed upon my face. "I shall have to ask you to extend it for me." "I don't think we can do that," he coldly replied. "Will you consult your partners?" I said; "time presses." The man bowed stiffly, his aspect about as pleasing as if I had robbed him, and turned away. I was standing near the door of the counting-room, inside of which were his two partners, with whom he had retired to confer. "Jones can't pay his note," I heard him say, in tones most unpleasant to my ear. "What!" was replied; "Jones?" "Yes, Jones." "What does he want?" "A renewal." "Nonsense! He can pay, if he finds he must." "It is nearly half-past two," one of them remarked. "No matter. It's of too much importance to him to keep his good name; he'll find somebody to help him. Threaten him with a protest; shake that over his head, and the money'll be raised." With a Siberian aspect, the man returned to me. "Can't do any thing for you," he said. "Sorry for it." "My note must lie over, then," I replied. "It will be protested." The very sound of the word went through me like an arrow. I felt the perspiration starting from every pore; but I was indignant at the same time, and answered, as firmly as I could speak—"Very well; let it be." "As you like," he said, in the same cold tone, and with the same dark aspect, partly turning away as he spoke. "But, my dear sir"— "It is useless to waste words," he remarked, interrupting me. "You have our ultimatum." As I left the store, I felt as if I had been guilty of some crime; I was ashamed to look even the clerks in the face. A feeble resolution to make an effort to save myself from the disgrace and disaster of a protest stirred in my mind; but it died away, and I returned to my store to await the dread result that must follow this failure to take up my paper. I looked at the slow-moving hand on the clock, and saw minute after minute go by with a stoicism that surprised even myself. At last the stroke of the hammer fell; the die was cast. I would be protested, that greatest of all evils dreaded by a man of business. As to going home to dinner, that was out of the question; I could not have eaten a mouthful to save me. All I had now to do was to wait for the visit of the notary, from which I shrank with a nervous dread. Everybody in the street would know him, I thought, and everybody would see him enter my store and comprehend his business. Half-past three arrived, and yet I had not been bearded by the dread monster, at whose very name thousands have trembled and do still tremble. I sat awaiting him in stern silence. Four o'clock, and yet he had not come. Perhaps, it was suggested to me, the holders of the note had withdrawn it at the last moment. Cheering thought! Just then I saw a lad enter the store and speak to one of the clerks, who pointed back to where I sat. The boy was not over fourteen, and had, I noticed as he approached, a modest, rather shrinking look. "Mr. Jones?" he said, when he had come near to me. "Yes," I replied, indifferently, scarcely wondering what he wanted. "Will you pay this note?" he said, opening a piece of paper that I had not observed in his hand, and presenting it to me. My head was in a whirl for an instant, but was as quickly clear again. "No, my lad," I replied, in a composed voice, "I shall not pay it." "You will not pay it?" he repeated, as if he had not heard me distinctly. "No," said I. The lad bowed politely, slipped the dishonoured note into his pocket, and retired. I drew a long breath, leaned back in my chair with a sense of relief, and murmured—"Not such a dreadful affair, after all. So, I am protested! The operation is over, and I hardly felt the pain. And now what next?" As I said this, the man whose Siberian face had almost congealed me entered my store, and came hurriedly back to where I still remained sitting. His face was far less wintry. The fact was, I owed the firm fifteen thousand dollars, which was no joke; and they were nearly as much alarmed, when they found that my note was actually under protest, as I was before the fact. "Is it possible, Mr. Jones," he said, his voice as husky and tremulous as mine was when I called upon him an hour or two before, "that you have suffered your note to lie over!" "Did I not inform you that such would be the case?" I replied, with assumed sternness of voice and manner. The boot was on the other leg, and I was not slow in recognising the fact. "But what do you intend to do, Mr. Jones? What is the state of your affairs?" "At the proper time, I will inform you," I answered, coldly. "You have driven me into a protest, and you must stand the consequences." "Are your affairs desperate, Mr. Jones?" The creditor became almost imploring in his manner. "They will probably become so now. Does a man's note lie over without his affairs becoming desperate?" "Perhaps"— There was a pause. I looked unflinchingly into the man's face. "If we extend this note, and keep the matter quiet, what then?" "It won't do," I returned. "More than that will be required to save me." My creditor looked frightened, while I maintained an aspect of as much indifference and resolution as I could assume. "What will save you?" he asked. I was thinking as rapidly as I could, in order to be prepared for striking while the iron was hot, and that to good purpose. "I'll tell you," I replied. "Well, what is it?" He looked eager and anxious. "My fault has been one into which your house led me, that of buying too freely," said I; "of using my credit injudiciously. The consequence is, that I am cramped severely, and am neglecting my legitimate business in order to run about after money. I owe your house more than half of the aggregate of my whole liabilities. Give me the time I ask, in order to recover myself and curtail my business, and I can go through." "What time do you ask?" "I owe you fifteen thousand dollars." "So much?" "Yes; and the whole of it falls due within seven months. What I propose is, to pay you five per cent. on the amount of my present indebtedness every thirty days from this time until the whole is liquidated; you to hand me a thousand dollars to-morrow morning, to enable me to get my note out of bank, in order to save my credit." The gentleman looked blank at the boldness of my proposition. "Is that the best you can do?" he asked. "The very best. You have driven me into a protest, and now, the bitterness of that dreaded ordeal being past, I prefer making an assignment and having my affairs settled up, to going on in the old way. I will not continue in business, unless I can conduct it easily and safely. I am sick of being on the rack; I would rather grub for a living." I was eloquent in my tone and manner, for I felt what I said. "It shall be as you wish," said my creditor. "You should not, you must not, make an assignment; every interest will suffer in that event. We will send you a check for a thousand dollars early to-morrow morning, and, as to what has occurred, keep our own counsel." I bowed, and he bowed. I was conscious of having risen in his estimation. Get such a man in your power, and his respect for you increases fourfold. My sleep was sound that night, for I was satisfied that the thousand dollars would come. And they did come. After that, I was as easy as an old shoe. I was soon off the borrowing list; my business I contracted into a narrower and safer sphere, and really made more profit than before. I have never stood in fear of notaries or protests since. Why should I? To me the notary proved a lamb rather than a lion, and my credit, instead of being ruined, was saved by a protest. <div style="break-after:column;"></div>

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