The following account of Mr. Constable's failure, the effect of
which has been not merely the absorption of all the literary gains of the mighty deceased—and no author ever gained so much—but the destitution of his family, is given by Sir Walter himself, in the In.roduction to the Chronicles of the Canongate, in the Number of the new edition of the Novels which has just appeared.
"I have, perhaps, said enough on former occasions of the misfortunes which led to the dropping of that mask under winch I had, for a long series of years, enjoyed so large a portion of public favour. Through the success of those literary efforts, I had been enabled to indulge most of the tastes which a retired person of my station might be supposed to entertain. In the pen of this nameless romancer, I seemed to possess something like the secret fountain of coined gold and pearls vouchsafed to the traveller of the Eastern Tale ; and no doubt believed that I might venture, without silly imprudence, to ex- tend my personal expenditure considerably beyond what I should have thought of, had my means been limited to the competence which I de- rived from inheritance, with the moderate income of a professional situation. I bought, and built, and planted; and was considered by myself, as by the rest of the world, in the safe possession of an easy fortune. My riches, however, like the other riches of this world, were liable to accidents, under which they were ultimately destined to make unto themselves wings and fly away. The year 1825, so disastrous to many branches of industry and commerce, did not spare the market of literature ; and the sudden ruin that fell on so many of the booksellers, could scarcely have been expected to leave unscathed one whose career had of necessity connected him deeply and extensively with the pecuniary transactions of that profession. In a word, almost without one note of premonition, I found myself involved in the sweeping catastrophe of the unhappy time, and called on to meet the demands of creditors upon commercial establishments with which my for- tunes had long been bound up, to the extent of no less a sum than one hundred and twenty thousand pounds. The author having, however, rashly committed his pledges thus largely to the hazards of trading companies, it behoved him, of course, to abide the consequences of his conduct; and, with whatever feelings, he sur- rendered on the instant every shred of property which he had been accustomed to call his own. It became vested in the hands of gentlemen, whose integrity, prudence, and intelligence, were combined with all possible liberality and kind- ness of disposition, and who readily afforded every assistance towards the execu- tion of plans, in the success of which the author contemplated the possibility of his ultimate extrication, and which were of such a nature, that, had as- istance of this sort been withheld, he could have had little prospect of carrying, them into effect. Among other resources which occurred, was the project of that complete and corrected edition of his novels and romances (whose real pa- rentage had of necessity been disclosed at the moment of the tidal convul- sions alluded to), which has now advanced with unprecedente, favour nearly to its close."
Of the sum here mentioned by Sir Walter, a dividend of nine shil- lings in the pound has been for some time paid, and we believe that a second of three shillings and sixpence has been or is expected very soon to be declared. There will still remain nearly 50,000/. for which the estate and other property of the deceased are liable. Abbotsford was entailed, on Major Scott's marriage ; but the validity of the entail is doubted; and even were it good, the remainder is to the Major's chil- dren only, and he has no family.
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