are worth $200. I
have one hundred lots at Jackass Inlet, worth at least $100,
at the very lowest calculation. In short, I'm worth a hull
$60,000.'

"'Well, I'm glad to hear it. You can pay me now the $500 you
have owed me for these last four years. There's your note, I
believe,' said he, handing the speculator a worn piece of
paper that had a piece of writing upon it.

"The speculator looked blank at this. 'Oh! yes--my--now I'd
like--suppose,' but the words could not form themselves into
a perfect sentence.

"'I want the money very much,' said the other; 'I have some
payments to make to-morrow.'

"'Why, you don't want cash for it surely.'

"'Yes, but I do. You say you are worth $60,000,--surely $500
is but a trifle to pay; do let me have the cash on the nail,
if you please.'

"'Oh!--by--well--now--do tell--really, I have not got the
money at present.'

"'So you can't pay it, eh? A man worth $60,000, and can't
pay an old debt of $500?'

"'Oh! yes I can--I'll--I'll--just give you my note for it at
ninety days.'

"'The D--l you will! A man worth $60,000, and can't pay $500
for ninety days! what do you mean?'

"'Well now, my dear sir, I'm worth what I say. I can pay
you. There's my property,' spreading out half a dozen very
beautiful lithographs; 'but really I can't raise that amount
at present. Yesterday, I had to give three per cent a month
for $4,000 to save my whole fortune. I had to look out for
the mortgages. Take my note; you can get it discounted for
three per cent.'

"'No, I can't. If you will give me $250 for the debt, I
shall give the other half to pay the interest on your
mortgages.'....

"Whether the proposition has been accepted we shall know
to-morrow; but we have many such rich people."--_Herald_,
Oct. 28, 1836.

But it was not such things as these that established the Herald.
Confined as he was to the limits of a single town, and being compelled
to do everything with his own hands, he could not have much in his
columns that we should now call "news." But what is news? The answer
to that question involves the whole art, mystery, and history of
journalism. The time was when news signified the doings of the king
and his court. This was the staple of the first news-letter writers,
who were employed by great