this cutting rebuke of Layton, which was given seriously, but not in anger. He tried to make a great many excuses, to none of which Layton made any reply. He had said all he wished to say on the subject. After this, the two met frequently—more frequently than Grasper cared about meeting the man he had injured. Several times he alluded, indirectly, to the past, in an apologetic way, but Layton never appeared to understand the allusion. This was worse to Grasper than if he had come out and said over and over again just what he thought of the other's conduct.

Five years from the day Layton commenced business anew, he made his last dividend upon the deficit that stood against him at the time his creditors generously released him and set him once more upon his feet. He was doing a very good business, and had a credit much more extensive than he cared about using. No one was more ready to sell him than Grasper, who frequently importuned him to make bills at his store. This he sometimes did, but made it a point never to give his note for the purchase, always paying the cash and receiving a discount.

"I'd as lief have your note as your money," Grasper would sometimes say.

"I always prefer paying the cash while I have it," was generally the answer. "In this way, I make a double profit on my sales."

The true reason why he would not give his note to Grasper, was his determination never to be in debt to any man who, in an extremity, would oppress him. This reason was more than suspected by Grasper and it worried him exceedingly. If Layton had refused to buy from him at all, he would have felt less annoyance.

Year after year passed on, and Layton's business gradually enlarged, until he was doing at least four times as much as Grasper, who now found himself much oftener the buyer from, than the seller to, Layton. At first, in making bills with Layton, he always made it a point to cash them. But this soon became inconvenient, and he was forced to say, in making a pretty heavy purchase—

"I shall have to give my note for this."

"Just as you please, Mr. Grasper, it is all the same to me," replied Layton, indifferently. "I had as lief have your note as your money."

Grasper felt his cheek burn. For the hundredth time, he repented of one act in his life.

A few months after this, Grasper found himself very hard pressed to meet his payments. He had been on the borrowing list for a good while, and had drawn so often and so largely upon business friends, that he had almost worn out his welcome. For one of his heavy days he had been endeavouring to make provision in advance, but had not succeeded in obtaining all the money needed, when the day arrived. In his extremity, and as a last resort, yet with a most heart-sinking reluctance, he called in to see Layton.

"Have you seven hundred dollars more than you want to-day?" he asked, in a tone that betrayed his unwillingness to ask the favour, although he strove to appear indifferent.

"I have, and it's at your service," was promptly and cheerfully replied. "Shall I fill you a check?"

"If you please," said Grasper; "I have a very heavy payment to make to-day, and find money tighter than usual. When do you with me to return it to you?" he asked, as he took the check.

"Oh! in three or four days. Will that do?"

"It will suit me exactly. I am very much obliged to you, indeed."

"You are very welcome. I shall always be happy to accommodate you in a similar way. I generally have something over."

When Grasper returned to his own store, his cheek burned, his heart beat quicker, and his breathing was oppressed. He felt humbled in his own eyes. To the man whom he once so cruelly wronged he had been compelled to go for a favour, and that man had generously returned him good for evil. He was unhappy until he could replace the money he had borrowed, which was in a day or two, and even then he still felt very uncomfortable.

After this, Grasper of course was frequently driven to the necessity of getting temporary loans from Layton, which were always made in a way which showed that it gave his neighbour real pleasure to accommodate him.

Gradually, difficulties gathered around Grasper so thickly, that he found it almost impossible to keep his head above water. Two thirds of his time were spent in efforts to raise money to meet his payments, and the other third in brooding sadly and inactively over the embarrassed condition of his affairs. This being the case, his business suffered inevitably. Instead of going on and making handsome profits, as he had once done, he was actually losing money, and that, too, rapidly; for, when he bought, he often made imprudent purchases, and when he sold, he made three bad debts where he formerly made one.

At last, a crisis came in his affairs, as come it must, sooner or later, under such a system. A stoppage and ruin he saw to be inevitable. He owed more borrowed money than he could possibly return within the time for which he had obtained it, and had, besides, large payments to make in bank within the period. Any effort to get through, he saw would be hopeless, and he determined to give up; not, however, without securing something for himself.

"Twenty cents less in the dollar for my creditors," he argued, "will not kill them, and that difference will be quite important to me. When the storm blows over, it will give me the means of hoisting sail again."

At this time, Grasper owed Layton two thousand dollars borrowed money, and two thousand dollars in notes of hand, given for goods purchased of him.

"It won't do," he said to himself, "to let him lose any thing. I should never be able to look him in the face again, after what has happened between us. No—no—I must see him safe."

On the next day, Grasper called in to see Layton. His face was serious.

"Can I say a word to you alone?" he asked.

"Certainly," and the two men retired to a private part of the store. Grasper had never felt so wretched in all his life. After two or three efforts to speak, he at last found voice enough to say—

"Mr. Layton, I have very bad news to tell you. It is impossible for me to go on any longer. I shall stop to-morrow, inevitably. I owe you two thousand dollars in borrowed money and two thousand in notes, making, in all, four thousand dollars. I don't wish you to lose any thing by me, and, to secure your borrowed money, I have brought you good notes for two thousand dollars, which is the best I can possibly do. For the other two thousand dollars, I want you to come into my store, and take your choice of any thing there, which I will sell you, and take my own notes back in payment. That is the best I can possibly do for you, Mr. Layton, and it will be far better, I fear, than I shall be able to do for any one else."

Layton was taken entirely by surprise.

"What you say astonishes me, Mr. Grasper; I thought you were doing a very flourishing business?"

"And so I would have been, had I not ventured a little beyond my depth, and got cramped for money to meet my payments. A neglect of my business was the inevitable consequence; for, when all my time was taken up in raising money, I had none left to see after my business in a proper manner. Bad debts have been one of the consequences, and profitless operations another, until I am involved beyond the power of extrication, and must see every thing fall in ruins about my head."

"It really grieves me to hear you say this," replied Layton, not offering to take the notes which Grasper was still holding out for his acceptance. "But, perhaps, you magnify your difficulties. Don't you think some temporary relief would help you over your present embarrassments?"

"No: nothing temporary would be of any avail."

"Have you any objection to letting me see a full statement of your affairs? Perhaps I can suggest something better than a failure, which is almost always the very worst thing that can be done."

"Most gladly will I do so, Mr. Layton,"