curl in the long, sharp mouth, disclosing two pointed ivory fangs—disclosing, but for an instant, two pointed ivory fangs, and then quickly concealed, and the head as quickly withdrawn. My God! reader, do you know by experience any thing of the sensations produced by such an apparition? Do you know what it is to have a wife, who clings to you, quite safe in her protector, and young children, who look to 'papa' as to Omnipotence?... At last the year of Jubilee was announced. A general Bankrupt Law! Men's faces brightened with hope again. Hurried congratulations passed from lip to lip. Hands were grasped with an almost unnatural fervor. Jubilee! release from bondage! joy—joy over the whole land! Yet Russell, who, with all his care—with all his close, sharp, persisting management—had, now and then, been victimized, as he called it, by an unfortunate debtor, who, his security having failed, was found wanting on the last quarter-day—Russell, who had sometimes foreclosed a mortgage, and, taking advantage of the depressed state of things, had bid in the property for one-half its value, and thus obtained a decree over against the once happy possessor of a comfortable home—Russell was, as a matter of principle—oh! yes, wholly as a matter of principle—opposed to the general bankrupt law! opposed to any relief for the thousands and tens of thousands who, indebted beyond the faintest hope of retrieve, were suffering the torture of despair. But Russell's objection to the law—on principle, mind you—fortunately had but slight effect on the happy applicants for its favor. I was among the first to take advantage of the Act. I met with no opposition, and, in a short time I was free. This was early in the year 1842. I now cast about to decide what I should do. I concluded not to embark in the old business. I thought it would be easier to renew confidence, and make a credit, in some other line of mercantile affairs. This was perhaps an error, because I had been thoroughly educated to that particular branch, and I should have much to learn in commencing on another. Looking back, I think that pride lay at the bottom of this; pride, because I could not at once start on my old footing; pride, that many younger men, who had commenced since I had stopped, were already so much in advance of any thing I could undertake. I did not understand this, then; but now I know myself better. At the same time, let it be understood that, in New-York, five years comprise almost a business generation. I had been laid one side, and shelved for just five years; and now, when I was preparing to start again, I had to compete with a new race of merchants, younger, keener, fresher than the race who had gone under. This did not alarm me. I had confidence in myself, and I preferred to encounter those who exhibited intelligence and activity in affairs, rather than the incompetent and stupid. After considerable reflection, I resolved to commence a wholesale grocery business, which should include, from time to time, legitimate operations, sometimes in cotton, sometimes in produce. I started with a cash capital of twenty-five thousand dollars. Fifteen thousand of this my wife insisted on raising by a mortgage upon the house we lived in. Five thousand more was contributed by my mother: it was about the portion to which I would be entitled on her death, and she urged me strongly to receive it then. She was old, she said, and had no longer the wants nor the wishes of younger folks. I took the fifteen thousand from my wife, and the five thousand from my mother, with some misgivings. It was my only chance, though; what weakness to refuse it! A friend—a tried, thoroughly tried friend—a college mate, who was possessed of large means, lent me other five thousand, without security, and with a declaration that, in event of misfortune, he would not permit me to treat it as 'confidential.' Behold me, then, with twenty-five thousand dollars in cash, with a junior partner, who put in three thousand dollars, and who was brought up to the business, and favorably introduced to me by the old and experienced firm of Powell, Weatherby, Keep and Company—behold me, on the first day of January, 1843, in a fine, spacious store in Front-street, my flag once more to the wind:

Charles E. Parkinson and Company.

There was great joy on that first day of January, 1843, at our house in Broadway, a little above Bond-street; an open house it was, and many were the New-Year's visits my wife received, and many the visits I made. All the gloom, and hope deferred, of the past six years, were forgotten. The three little folks—my two little girls, and my one little boy—partook, without knowing why, in the general hilarity.

. . . . . . . . . . . . . . . .

I found, on setting seriously to work at my new business, that I had every thing to learn. My partner proved to be an active and intelligent young man. He knew the routine of the trade well, and, although he sometimes assumed more than was becoming a comparative youth, I cannot say he took advantage of his position; nor am I aware that he ever violated the rules of our copartnership. He made two or three pretty large bad debts, the first six months we were together, which had the good effect to lower his self-confidence, and to lead him to me more frequently for advice. With the best possible management, the thirty-first of December, 1843, found me, after deducting family expenses and interest-money, with a small inroad made on the capital. It found me, however, in good health, with strong courage, and a competent knowledge of my business, no longer dependent on my junior for advice or suggestions. There was one drawback quite unexpected. On commencing business, I felt myself fairly entitled to a first-rate commercial credit. Frequently, through the year, I discovered there was some mysterious influence working against me. I would be on the point of closing some advantageous operation, which required the giving of our acceptances for considerable amounts, when the parties would return, after a little, and regret that they could not enter into the arrangement—that they found they could not employ our paper as they anticipated, and so forth. Now, I had reason to know that we stood well at both the banks where we did business, and further, that the officers of both these institutions did not hesitate to speak favorably of our firm, when applied to. What could it mean? Was there a snake in the grass—a secret foe—a disappointed creditor, perhaps, of 1837? After mentioning these facts to an old friend, and after his puzzling a good deal over it, he suddenly exclaimed: 'Parkinson, how do you stand at the Mercantile Agency?' 'At what?' said I, not exactly understanding him. 'At the Mercantile Agency,' he repeated; 'what I call our 'Commercial Intelligence Office.' I don't know what we should do without it, though sometimes they do get a little astray there, but they are always ready to correct mistakes.' My friend's suggestion struck me as a very probable one, and I wondered it had not occurred to me. I requested him, therefore, to obtain a report of the standing of our firm at the agency aforesaid. He procured it the next day. It read as follows:

'Charles E. Parkinson and Company, (Charles E. Parkinson and Edwin E. Rollins.) Wholesale grocers, respectable house, in fair credit. Established 1st January, 1843. Parkinson was importer of silk goods prior to 1837, and failed. Took the benefit of the Bankrupt Law. Unacquainted with present business; put in twenty-five thousand dollars. Nearly all borrowed, ($15,000 from his wife's estate,) and which will probably be treated as confidential, should he fail. Keeps house, and lives expensively. Rollins, unmarried man, about twenty-five,