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Updated: June 11, 2025
But it was impossible for any one to make head or tail out of this welter of interest, commissions, indemnities, and usury. Herr Carovius himself no longer knew precisely how matters stood; for a consortium of subsequent indorsers had been formed behind his back, and they were exploiting his zeal on behalf of the young Baron for all it was worth.
The merchants of New-York are proverbially liberal to unfortunate debtors; the tale of Mr. Wheelwright's misfortunes excited their lively sympathies; and they generously released him from all those obligations which neither he nor his indorsers could pay. And thus amid the frowns of adversity ended the mercantile career of the subject of this memoir.
He admits it at once, and his fate is sealed. A suit is filed by a confederate against the dupe, two accomplices being made co-defendants. They admit their Signatures as indorsers, and the one swears he bought the note for value from the dupe. The latter has no defense, for no court would believe the apparently idle explanation of the manner in which he came to endorse the note."
The interests involved are so momentous, that God in his wise ordination has given them a double security. It is a case in which two distinct parties are both separately required to see one and the same thing done. It is like taking two indorsers to a note.
I admitted that the effect of such a publication would surely be good, and would probably stave off immediate demand till their assets could be in part converted or realized; but I naturally inquired of Folsom, "Have you personally examined the accounts, as herein recited, and the assets, enough to warrant your signature to this paper?" for, "thereby you in effect become indorsers."
The consequence was frequent visits from the notary; and his indorsers began occasionally to receive an unceremonious call from those officious legal gentlemen, Messrs. John Doe and Richard Roe. At this stage of his unpromising mercantile career, the approaching catastrophe was hastened by a very grievous and untoward event.
At the ballot-box, whether at home or in the camp, they are Union men, and vote as they fight, and hold little in common with the political leaders of the Democratic Party in or out of this Hall the Seymours, the Woods, the Vallandighams, the Woodwards, and their indorsers, who hold and control the Democratic Party here, and taint it with Treason, till it is a stench in the nostrils of all patriotic men."
The mind of the boxmaster was now too much occupied about the danger of having allowed the days of grace to pass without intimation to the indorsers on the bill, to have any space left for doubting the honesty of the deacon.
These two indorsers must be 'treated' by the borrower whom they back; and he must pay them a weekly sum for the countenance they have given him, which not seldom amounts, before he gets through with the matter, to a hundred per cent, on the original loan." I am assured too that the consumption of spirits all through this region has greatly increased of late years.
He admits it at once, and his fate is sealed. A suit is filed by a confederate against the dupe, two accomplices being made co-defendants. They admit their Signatures as indorsers, and the one swears he bought the note for value from the dupe. The latter has no defense, for no court would believe the apparently idle explanation of the manner in which he came to endorse the note."
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