Just as Mr. Perley, who valued his property at hundreds of thousands of dollars in the present, and looked upon it as possessing an annually duplicating quality—just as Mr. Perley had selected a beautiful site for building a palace in New York, and had decided upon the plans submitted by a distinguished architect, the troubles in Texas destroyed the value of his scrip, and down he went to ruin like a collapsed balloon; and dozens of his confiding friends went with him. But Mr. Edwards Perley had too much native buoyancy of character, too much hope in life, to be put down by ill-natured fortune after this summary manner. In the wreck and ruin in which he was involved, he managed to get hold of a plank on which to float ashore. With a few hundred dollars, which he had contrived to save, under a self-enacted “homestead exemption” law, he opened an exchange office in Wall street, on a very small scale. Though his business operations scarcely reached, for a time, the aggregate of hundreds per day, there were not a few of his acquaintances who believed his transactions to be limited only by thousands; and they were indebted to him for their ideas on the subject. Give a man the reputation of doing a large business, and business will be sure to come. So it was in the case of Edwards Perley. Talking and boasting were of great use to him. In a few years he was getting along, as the saying is, “swimmingly.” But, like the man who, after creeping along for a week in a stage-coach, grows impatient if the cars do not make thirty miles an hour instead of twenty, Mr. Perley, as soon as affairs became prosperous with him again, grew dissatisfied with what appeared a slow accumulation, and began to look around him for some good speculation. He was not long in finding what he sought. But it is not our purpose to follow Mr. Perley through the various stages of his Carolina gold and Morus Multicaulis fevers; nor to minutely detail his operations in Western lands and town lots. As it had been in Texas land scrip, so it proved in all these. The visionary speculator, who sought wealth for its own sake, and was too eager for its possession to be willing to give back to society an equivalent of useful acts, after running a wild course for a few years, again tripped and fell. This time he found it much more difficult to recover himself. But with an elasticity of feeling that few possess, he went hopefully to work, and by dint of magnifying his own peculiar abilities, and his knowledge of business, induced a shrewd, calculating Yankee, who had a few thousand dollars, to join him in business.