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 thing about, all the time they wanted. When the panic came, they had no debts, and little owing to them, and so they weathered it all right. I learned what I consider my best lesson, and that was to do a cash business. "

" What were some of the principles you applied to your business? " I questioned. " / made it a point that all goods should be exactly what they were represented to be. It was a rule of the house that an exact scrutiny of the quality of all goods purchased should be maintained, and that nothing was to induce the house to place upon the market any line of goods at a shade of variation from their real value. Every article sold must be regarded as warranted, and

" Did you suffer any losses or reverses during your career ? "

" No loss except by the fire of 1871. It swept away everything, about three and a half millions. We were, of course, protected by insurance, which would have been sufficient against any ordinary calamity of the kind. But the disaster was so sweeping that some of the