During the royal visit to Scotland in 1822, Sir Walter was, by general consent, constituted Master of Ceremonies, and the duties he discharged to the entire satisfaction of his sovereign and of the nation. But while prosperity seemed to smile upon him with increasing lustre, adversity hovered near. In 1826, Archibald Constable & Company, the publishers of his works, became insolvent, involving in their bankruptcy the printing firm of the Messrs Ballantyne, of which he was a partner. For the sum of £120,000, Sir Walter was found to be individually responsible. On a mind less securely balanced, the wrecked hopes of a lifetime would have produced irretrievable despondency; but Sir Walter bore his misfortune with magnanimous resignation. To both the establishments which had involved him in their fall, he had been largely indebted, and he felt bound in honour, not less than by legal obligation, fully to discharge his debt. An offer by the creditors to accept a composition he declined, and claiming only to be allowed time, applied himself to his undertaking, with the full determination, if his life was spared, to cancel every obligation. At the crisis of his embarrassments, he was engaged in the composition of "Woodstock," which soon afterwards appeared. The "Life of Napoleon," which had for a considerable time occupied his attention, was published in 1827, in nine octavo volumes. In the course of preparing it, he visited London and Paris in search of materials. In the same year he produced "Chronicles of the Canongate," first series; and in the year following, the second series of those charming tales, and the first portion of his "Tales of a Grandfather." A second portion of these latter tales appeared in 1829, and the third and concluding series in 1830, when he also contributed a "History of Scotland," in two volumes, to "Lardner's Cyclopedia." In 1829 likewise appeared "Anne of Geierstein," and in 1830 the "Letters on Demonology and Witchcraft." In 1831 he produced a series of "Tales on French History," uniform with the "Tales of a Grandfather," and his novels "Count Robert of Paris," and "Castle Dangerous," as a fourth series of "Tales of my Landlord." Other productions of less importance appeared from his pen: he contributed to the _Edinburgh Review_, during the first year of its existence; wrote the articles "Chivalry," "Romance," and "Drama," for the sixth edition of the "Encyclopaedia Britannica;" and during his latter years frequently contributed to the _Quarterly Review_.