The Life of Abraham Lincoln, from His Birth to His Inauguration as PresidentLamon, Ward Hill
History
The Life of Abraham Lincoln, from His Birth to His Inauguration as President
Lamon, Ward Hill
Lincoln, Abraham, 1809-1865
In all the preceding transactions, the absence of any cash consideration
is the one thing very striking. It is a fair illustration of the
speculative spirit pervading the whole people. Green bought from Radford
on credit; Lincoln & Berry bought from Green on credit; they bought from
the Herndons on credit; they bought from Rutledge on credit; and they
sold to the Trents on credit. Those that did not die or run away had a
sad time enough in managing the debts resulting from their connection
with this unlucky grocery. Radford assigned Lincoln & Berry's note to
a Mr. Van Bergen, who got judgment on it, and swept away all Lincoln's
little personal property, including his surveying instruments,--his very
means of livelihood, as we shall see at another place. The Herndons
owed E. C. Blankenship for the goods they sold, and assigned Lincoln &
Berry's note in payment. Mr. Lincoln struggled to pay, by slow degrees,
this harassing debt to Blankenship, through many long and weary years.
It was not until his return from Congress, in 1849, that he got the last
dollar of it discharged. He paid Green _his_ note of two hundred and
fifty dollars, in small instalments, beginning in 1839, and ending in
1840. The history of his debt to Rutledge is not so well known. It was
probably insignificant as compared with the others; and Mr. Rutledge
proved a generous creditor, as he had always been a kind and considerate
friend.
Certain that he had no abilities for trade, Mr. Lincoln took the best
resolution he could have formed under the circumstances. He sat down to
his books just where he was, believing that knowledge would be power,
and power profit. He had no reason to shun his creditors, for these were
the men of all others who most applauded the honesty of his conduct
at the period of his greatest pecuniary misfortune. He talked to them
constantly of the "old debt," "the national debt," as he sometimes
called it,--promised to pay when he could, and they devoutly relied upon
every word he said.
Row Herndon moved to the country, and Lincoln was compelled to change
his boarding-place. He now began to live at a tavern for the first time
in his life. It was kept by various persons during his stay,--first, it
seems, by Mr. Rutledge, then by Henry Onstatt, and last by Nelson Alley.
It was a small log-house, covered with clapboards, and contained four
rooms.
Public-domain text, read in full here on John Shaqi.
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