"Before returns could be made, the war came on, embarrassments ensued, and by indubitable intelligence lately received, we find that our property in England has been sequestered; five of our ships, laden with English goods, lying in English harbours, and just ready to sail for America, have been seized as lawful prizes. Added to this, three vessels from the Indies, laden with island produce, have been taken on their homeward bound voyage, and one lost on her return from Holland. This wreck of fortune I might have survived, had I to sustain only my equal dividend of the loss: but of the merchants with whom I have been connected, not one remains to share the fate of the event; all have absconded or secreted themselves. To attempt to compound with my creditors would be of little avail; my whole fortune will not pay one fourth of the debts; so that, compound or not, the consequence to me is inevitable ruin. "To abscond would not secure me, as most of my remaining property is vested in real estate. And even if it would, I could not consent to it: I could not consent to banish myself from my country; to flee like a felon; to skulk from society with the base view of defrauding my creditors. No, I have lived honestly, and honestly will I die. By fair application and long industry my wealth has been obtained; and it shall never justly be said, that the reputation of my latter days was stained with acts of baseness and meanness. I have notified and procured a meeting of the creditors, and have laid the matters before them. Some appeared favourable to me; others insinuated that we were all connected in fraudulent designs, to swindle our creditors. This I repelled with becoming spirit, and was in consequence threatened with immediate prosecution. Whatever may be the event, I had some hopes that your happiness, Alonzo, might yet be secured. Hence I proposed your union with Melissa, before our misfortunes should be promulgated. Your parents are old; a little will serve the residue of their days. With your acquirements you may make your way in life. I shall have no property to give you; but I would still wish you to secure that which you prize far above, and without which, both honours and emoluments are unimportant and worthless."