The circumstances which led him to turn from poetry to prose fiction are well known. His poetical vein was really exhausted when in 1812 and 1813 Byron's 'Childe Harold' and flashy Eastern tales captured the public fancy. Just about as Scott was goodnaturedly confessing to himself that it was useless to dispute Byron's supremacy he accidentally came across the first chapters of 'Waverley,' which he had written some years before and had thrown aside in unwillingness to risk his fame by a venture in a new field. Taking it up with renewed interest, in the evenings of three weeks he wrote the remaining two-thirds of it; and he published it with an ultimate success even greater than that of his poetry. For a long time, however, Scott did not acknowledge the authorship of 'Waverley' and the novels which followed it (which, however, was obvious to every one), chiefly because he feared that the writing of prose fiction would seem undignified in a Clerk of Session. The rapidity of the appearance of his novels testified to the almost unlimited accumulation of traditions and incidents with which his astonishing memory was stored; in seventeen years he published nearly thirty 'Waverley' novels, equipping most of them, besides, with long fictitious introductions, which the present-day reader almost universally skips. The profits of Scott's works, long amounting apparently to from ten to twenty thousand pounds a year, were beyond the wildest dream of any previous author, and even exceeded those of most popular authors of the twentieth century, though partly because the works were published in unreasonably expensive form, each novel in several volumes. Still more gratifying were the great personal popularity which Scott attained and his recognition as the most eminent of living Scotsmen, of which a symbol was his elevation to a baronetcy in 1820. But the brightness of all this glory was to be pathetically dimmed. In 1825 a general financial panic, revealing the laxity of Scott's business partners, caused his firm to fail with liabilities of nearly a hundred and twenty thousand pounds. Always magnanimous and the soul of honor, Scott refused to take advantage of the bankruptcy laws, himself assumed the burden of the entire debt, and set himself the stupendous task of paying it with his pen. Amid increasing personal sorrows he labored on for six years and so nearly attained his object that the debt was actually extinguished some years after his death. But in the effort he completed the exhaustion of his long-overtaxed strength, and, a trip to Italy proving unavailing, returned to Abbotsford, and died, a few weeks after Goethe, in 1832.