71

80

new dollars borrowed. It was at the great fire of 1835
in New York, if I remember rightly that this scheme first emerged.
All the insurance companies declared themselves
bankrupt except only the Etna of Hartford which
advertised that it would pay all losses. It had not the
money to do so; but its advertisement brought so many
new policies that it did pay, and laid the foundations
of a great future. Paying out of the increase of one's
business is, of course, fatal in the long run. And yet
after all that is what we are all doing. A young man
marries without having the money in the bank to
support a dozen children. It is not in accordance
with sound business; but the human race would
progress little if they did not bank upon the
future. But restricting myself to teaching logic,