Gradually, difficulties gathered around Grasper so thickly, that he found it almost impossible to keep his head above water.  Two thirds of his time were spent in efforts to raise money to meet his payments, and the other third in brooding sadly and inactively over the embarrassed condition of his affairs.  This being the case, his business suffered inevitably.  Instead of going on and making handsome profits, as he had once done, he was actually losing money, and that, too, rapidly; for, when he bought, he often made imprudent purchases, and when he sold, he made three bad debts where he formerly made one.

At last, a crisis came in his affairs, as come it must, sooner or later, under such a system.  A stoppage and ruin he saw to be inevitable.  He owed more borrowed money than he could possibly return within the time for which he had obtained it, and had, besides, large payments to make in bank within the period.  Any effort to get through, he saw would be hopeless, and he determined to give up; not, however, without securing something for himself.

“Twenty cents less in the dollar for my creditors,” he argued, “will not kill them, and that difference will be quite important to me.  When the storm blows over, it will give me the means of hoisting sail again.”

At this time, Grasper owed Layton two thousand dollars borrowed money, and two thousand dollars in notes of hand, given for goods purchased of him.

“It won’t do,” he said to himself, “to let him lose any thing.  I should never be able to look him in the face again, after what has happened between us.  No—­no—­I must see him safe.”

On the next day, Grasper called in to see Layton.  His face was serious.

“Can I say a word to you alone?” he asked.

“Certainly,” and the two men retired to a private part of the store.  Grasper had never felt so wretched in all his life.  After two or three efforts to speak, he at last found voice enough to say—­

“Mr. Layton, I have very bad news to tell you.  It is impossible for me to go on any longer.  I shall stop to-morrow, inevitably.  I owe you two thousand dollars in borrowed money and two thousand in notes, making, in all, four thousand dollars.  I don’t wish you to lose any thing by me, and, to secure your borrowed money, I have brought you good notes for two thousand dollars, which is the best I can possibly do.  For the other two thousand dollars, I want you to come into my store, and take your choice of any thing there, which I will sell you, and take my own notes back in payment.  That is the best I can possibly do for you, Mr. Layton, and it will be far better, I fear, than I shall be able to do for any one else.”

Layton was taken entirely by surprise.

“What you say astonishes me, Mr. Grasper; I thought you were doing a very flourishing business?”

“And so I would have been, had I not ventured a little beyond my depth, and got cramped for money to meet my payments.  A neglect of my business was the inevitable consequence; for, when all my time was taken up in raising money, I had none left to see after my business in a proper manner.  Bad debts have been one of the consequences, and profitless operations another, until I am involved beyond the power of extrication, and must see every thing fall in ruins about my head.”