In the winter of 1825-1826, a widespread area of commercial distress resulted in the downfall of many firms; and among others to succumb were Hurst & Robinson, publishers, whose failure precipitated that of Constable & Co., Scott’s publishers, and of the Ballantynes his printers, with whom he was a secret partner, who were largely indebted to the Constables and so to the creditors of that house.  The crash came January 16, 1826, and Scott found himself in debt to the amount of about L147,000,—­or nearly $735,000.

Such a vast misfortune, overwhelming a man at the age of fifty-five, might well crush out all life and hope and send him into helpless bankruptcy, with the poor consolation that, though legally responsible, he was not morally bound to pay other people’s debts.  But Scott’s own sanguine carelessness had been partly to blame for the Ballantyne failure; and he faced the billow as it suddenly appeared, bowed to it in grief but not in shame, and, while not pretending to any stoicism, instantly resolved to devote the remainder of his life to the repayment of the creditors.

The solid substance of manliness, honor, and cheerful courage in his character; the genuine piety with which he accepted the “dispensation,” and wrote “Blessed be the name of the Lord;” the unexampled steadiness with which he comforted his wife and daughters while girding himself to the daily work of intellectual production amidst his many distresses; the sweetness of heart with which he acknowledged the sympathy and declined the offers of help that poured in upon him from every side (one poor music teacher offering his little savings of L600, and an anonymous admirer urging upon him a loan of L30,000),—­all this is the beauty that lighted up the black cloud of Scott’s adversity.  His efforts were finally successful, although at the cost of his bodily existence.  Lockhart says:  “He paid the penalty of health and life, but he saved his honor and his self-respect.

     “‘The glory dies not, and the grief is past.’”

“Woodstock,” then about half-done, was completed in sixty-nine days, and issued in March, 1826, bringing in about $41,000 to his creditors.  His “Life of Napoleon,” published in June, 1827, produced $90,000.  In 1827, also, Scott issued “Chronicles of the Canongate,” First Series (several minor stories), and the First Series of “Tales of a Grandfather;” in 1828, “The Fair Maid of Perth” (Second Series of the “Chronicles"), and more “Tales of a Grandfather;” in 1829, “Anne of Geierstein,” more “Tales of a Grandfather,” the first volume of a “History of Scotland,” and a collective edition of the Waverley Novels in forty-eight volumes, with new Introductions, Notes, and careful corrections and improvements of the text throughout,—­in itself an immense labor; in 1830, more “Tales of a Grandfather,” a three volume “History of France,” and Volume II. of the “History of Scotland;” in 1831, and finally, a Fourth Series of “Tales of My Landlord,” including “Count Robert of Paris” and “Castle Dangerous.”