As I studied the problem I saw that it wasn’t a case that called for reading the tape but for reading my own self. I quite cold-bloodedly reached the conclusion that I would never be able to accomplish anything useful so long as I was worried, and it was equally plain that I should be worried so long as I owed money. I mean, as long as any creditor had the power to vex me or to interfere with my coming back by insisting upon being paid before I could get a decent stake together. This was all so obviously true that I said to myself, “I must go through bankruptcy.” What else could relieve my mind? It sounds both easy and sensible, doesn’t it? But it was more than unpleasant, I can tell you. I hated to do it. I hated to put myself in a position to be misunderstood or misjudged. I myself never cared much for money. I never thought enough of it to consider it worthwhile lying for. But I knew that everybody didn’t feel that way. Of course I also knew that if I got on my feet again I’d pay everybody off, for the obligation remained. But unless I was able to trade in the old way I’d never be able to pay back that million. I nerved myself and went to see my creditors. It was a mighty difficult thing for me to do, for all that most of them were personal friends or old acquaintances. I explained the situation quite frankly to them. I said: “I am not going to take this step because I don’t wish to pay you but because, in justice to both myself and you, I must put myself in a position to make money. I have been thinking of this solution off and on for over two years, but I simply didn’t have the nerve to come out and say so frankly to you. It would have been infinitely better for all of us if I had. It all simmers down to this: I positively cannot be my old self while I am harassed or upset by these debts. I have decided to do now what I should have done a year ago. I have no other reason than the one I have just given you.” What the first man said was to all intents and purposes what all of them said. He spoke for his firm. “Livingston,” he said, “we understand. We realise your position perfectly. I’ll tell you what we’ll do: we’ll just give you a release. Have your lawyer prepare any kind of paper you wish, and we’ll sign it.” That was in substance what all my big creditors said. That is one side of Wall Street for you. It wasn’t merely careless good nature or sportsmanship. It was also a mighty intelligent decision, for it was clearly good business. I appreciated both the good will and the business gumption.