Wednesday, May 13, 2009

Mark Twain, Late in Life, Deep in Debt

1894 was a bad year for Mark Twain. At the end of the year he found himself about $100,000.00 in debt. Twain was a lot of things. He was not a shrewd business man.

Here’s what he had to say about the situation:

“If I live I can pay off the last debt within four years, after which, at
the age of sixty-four, I can make a fresh and unencumbered start in life.”

By the end of 1898 he paid off his creditors in full.


Grimfairy said...

If I'm not mistaken, it was thanks to Twain's friend, Henry Rogers, that he was able to fulfill his goal. He proved to be a valuable friend indeed.

Karine and Tom said...

Twain placed his business affairs in the hands of Standard Oil CEO Henry Rogers in 1895. Rogers was a good friend. He negotiated the sale of Twain's copyrights to Harper's, which ensured an annual income of $25,000. That income, and the $35,000 that Twain earned from the worldwide lecture tour, was used to pay off the debt.