commercial failure means to English merchants--utter ruin, present and prospective, and obliterating all the successful past; how little chance they have of ever getting up again; how they feel that they must plod heavily onward under a burden of disgrace--poor men and hopeless men and men forever ashamed. I doubt whether any future prosperity (which is unlikely enough to come to them) could ever compensate them for this misfortune, or make them, to their own consciousness, the men they were. They will be like a woman who has once lost her chastity: no after-life of virtue will take out the stain. It is not so in America, nor ought it to be so here; but they said themselves they would never again have put unreserved confidence in a man who had been bankrupt, and they could not but apply the same severe rule to their own case. I was touched by nothing more than by their sorrowful patience, without any fierceness against Providence or against mankind, or disposition to find fault with anything but their own imprudence; and there was a simple dignity, too, in their not assuming the aspect of stoicism. I could really have shed tears for them, to see how like men and Christians they let the tears come to their own eyes. This is the true way to do; a man ought not to be too proud to let his eyes be moistened in the presence of God and of a friend. They talked of some little annoyances, half laughingly. Bennoch has been dunned for his gas-bill at Blackheath (only a pound or two) and has paid it. Mr. Twentyman seems to have received an insulting message from some creditor. Mr. Riggs spoke of wanting a little money to pay for some boots. It was very sad, indeed, to see these men of uncommon energy and ability, all now so helpless, and, from managing great enterprises, involving vast expenditures, reduced almost to reckon the silver in their pockets. Bennoch and I sat by the fireside a little while after his partners had left the room, and then he told me that he blamed himself, as holding the principal position in the firm, for not having exercised a stronger controlling influence over their operations. The two other men had recently gone into speculations, of the extent of which he had not been fully aware, and he found the liabilities of the firm very much greater than he had expected. He said this without bitterness, and said it not to the world, but only to a friend. I am exceedingly sorry for him; it is such a changed life that he must lead hereafter, and with none of the objects before him which he might heretofore have hoped to grasp. No doubt he was ambitious of civic, and even of broader public distinction; and not unreasonably so, having the gift of ready and impressive speech, and a behavior among men that wins them, and a tact in the management of affairs, and many-sided and never-tiring activity. To be a member of Parliament--to be lord mayor--whatever an eminent merchant of the world's metropolis may