The Gallery of Portraits: with Memoirs. Volume 7 (of 7)Malkin, Arthur Thomas
History
The Gallery of Portraits: with Memoirs. Volume 7 (of 7)
Malkin, Arthur Thomas
Biography
charge against him was want of prudence,) he amply redeemed by the
nobleness of his conduct under this crushing misfortune; and it has been
truly said that “the honour which rests upon his memory for his gigantic
exertions to pay off this immense debt without deduction, is a far
nobler heritage to his posterity than the most princely fortune.”
“On meeting his creditors, he refused to accept of any compromise, and
declared his determination, if life was spared him, to pay off every
shilling. He insured his life in their favour for 22,000_l._;
surrendered all his available property in trust (Abbotsford being
rendered inalienable by the marriage articles of his eldest son); sold
his town house and furniture, and removed to a humbler dwelling; and
then set himself calmly down to the stupendous task of reducing this
load of debt. The only indulgence he asked for was time; and, to the
honour of the parties concerned, time was liberally and kindly given
him. A month or two after the crash of Constable’s house, Lady Scott
died; domestic affliction thus following fast upon worldly calamity.”
For five years after his pecuniary misfortunes, namely, from January
1826 to the spring of 1831, Sir Walter continued his indefatigable
labours; and in that period, besides several new works of fiction, he
produced the History of Scotland, published in Lardner’s Cyclopædia,
Tales of a Grandfather, Letters on Demonology, and a number of smaller
pieces. The Life of Napoleon was in part composed anterior to the
calamity of which we speak: it was published in 1827, and though read
with interest, did not display the research and impartiality which the
character of an historian requires. He also superintended a new edition
of the Waverley Novels, with prefaces and illustrative notes; and the
profits of all these works were so considerable, that by the close of
1830, 54,000_l._ had been paid off; all of which, except six or seven
thousand, had been produced by his own literary labours. The copyright
of the published novels was sold by Constable’s creditors for 8,400_l._,
half of which was assigned to Sir Walter by his creditors, in
consideration of his assistance in furnishing prefaces and notes to the
new edition.
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