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sold at a very extravagant price, in consequence of which considerable quantities were shipped within a year after the peace, so that the market was over-stocked, and the price so reduced, that much money was lost by the shippers; my brother and myself lost considerable. When peace took place, there were scarce any European goods on hand, which occasion-ed large importations to be made by our merchants. The ill effects of this began to be severely felt in 1786 to 1788, which ruined many in America andLondon. Almost the whole of the American trade was then confined to London, and very little com-mercial intercourse with any other port in England. My brother Charles had shipped considerably on credit to Thomas and George Eddy, and many others, who, owing to the country being inundated with every sort of goods, were unable to remit to England. Thomas and George Eddy, had supplied imprudently an indi-vidual residing at Fredericksburg, Virginia, with goods to a large amount. He died, and left his affairs in a very unsettled state. On this account I removed with my family to Fredericksburg, and kept a large retail store in the name of Thomas and George Eddy, my brother George remaining in Philadelphia. ThisVirginia business turned out badly, and my being much exposed to extravagant and dissipated company was a great injury to me in every respect. In 1788, I returned to Philadelphia, and as my brother in Lon-don had failed, it became necessary for Thomas and George Eddy to make a settlement with their cre-ditors. We were discharged under a general act of bank-ruptcy for the State of Pennsylvania. Since then, the debts due from them have been mostly paid. Some were not legal demands, and it was thought not right to pay them. I now had an opportunity of learning in the school of adversity some useful lessons, that have been of advantage to me. 1 have often looked back to this