64                      THE   OLD MERCHAJVTS
 

CHAPTER  VIII.

The old merchants had a different way of doing busi¬
ness thirty years ago than now. They were more care¬
ful and more prudent. Perhaps it was owing to the fact
that the law abolishing inprisonment for debt had not
then been passed ; and a large shipping merchant, if ho
did not pay his debts promptly, could be locked up in the
old jail. That building is now nearly forgotten. It
stood at the east of the City Hall, on the very ground
now occupied by the Hall of Records. It was a square
brick building, and had on the top a cupola and a bell.
I remember that old jail bell's tones as well as if it were
swinging now. Up in the cupola the poor debtors used
to sit for hours, and sun themselves. Some of the pris¬
oners were allowed to go on what was called the "jail
limits." I have read signs at particular points in the Icwer
partsof the city with "jail limits "painted on the board,
and nailed up in a conspicuous spots.

The system of credits places a prudent merchant, if
iis business is at all extended, at the mercy of other per¬
sons. To do business; he gives large credits of from six
to eight months. If these time buyers are reckless, or
if a panic comes along, and they go by the board, tho
large merchajit is also shaken, and perhaps fails, or is
forced to ask an extension from his creditors.