There had been a season of overtrading.

Large balances in England and France were draining the Atlantic cities of specie, and short crops made it impossible for western and southern merchants to meet their heavy payments at the east.

Money ruled high, in consequence; weak houses were giving way, and a general uneasiness was beginning to prevail.
But, even if these causes had not operated against the prospects of Mr.Markland, his changed circumstances would have been a sufficient bar to an advantageous business connection.

He was no longer a capitalist; and the fact that he had recklessly invested his money in what was now pronounced one of the wildest schemes, was looked upon as conclusive evidence against his discretion and sound judgment.

The trite saying, that the world judges of men by success or failure, was fully illustrated in his case.