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Sunday, August 7, 2011

About Financial Planning: Finding More Money to Pay Off Debt

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From Jeremy Vohwinkle, your Guide to Financial Planning
Still struggling with debt? You're not alone. Money is tight these days, but if you can scrape together anything extra to pay more than the minimum payment, you're going to see tremendous results. Minimum payments are designed to make you fail and even putting a few extra bucks towards that monthly bill will shave years and hundreds, if not thousands of dollars off your total bill.

Finding More Money to Pay Off Debt
When you're just trying to keep up with your minimum credit card payments each month, it can be hard to think that you have extra money sitting around. Although you... Read more

How Not to Pay Off Debt
Getting out of debt is a major financial goal for many people. While it's important to reduce your debt load and try to begin creating wealth it's also important that you take the right steps toward repaying your debt. In fact, there are a few common methods people use to help them get out... Read more
See More About:  getting out of debt  loans  credit scores

Setting Financial Goals
Napoleon Hill said it best: "The person who labors without a definite purpose backed by a definite plan for its attainment resembles a ship without a rudder." Essentially, without a... Read more

Real Estate & Mortgages
For some people their home is their single greatest asset. This means it is important to understand how real estate fits into your financial plan. Here you will find information on purchasing a home and finding the right mortgage.

 


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This newsletter is written by:
Jeremy Vohwinkle
Financial Planning Guide
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Weekend Edition

D.R. U.S. versionThe Daily Reckoning U.S. Edition Home . Archives . Unsubscribe
More Sense In One Issue Than A Month of CNBC
The Daily Reckoning Weekend Edition | Saturday, August 6, 2011
  • Debt ceiling raises...stock market floor collapsed,
  • Readers weigh in on China and India at war, calling politicos by their correct name and where all the jobs went,
  • Plus, all the rest of this week's reckonings for your own voluntary consumption...

.................................................................................................

Millions of Americans are Unprepared for what has Already Happened

This single event could have catastrophic effects on your retirement nest egg. A nest egg you think you can count on at the golden age of 62.

Whether you're already retired, or want to retire soon, I urge you to listen what I have to say now. Full details here.

Don't wait, watch now >>

Dots
Joel Bowman
Joel Bowman
Joel Bowman, checking in from Edinburgh, Scotland...

Actually, we're on our way to Scotland, but not quite there yet. We spent the past week in London and Ireland, attending a friend's wedding (good) and having a look at what happens when an economy (Ireland's) grinds to a sudden, debt saturated halt (bad). We'll have a few notes on the latter for you next week but, first...

Fellow Reckoners will have had a tough time escaping minute-by-minute media updates concerning America's debt ceiling "debate" these past couple of weeks. They would have had an even tougher time ignoring the market's reaction to Capitol Hill's "historic" decision these past couple of days. After Thursday's freefalling "Flash Crash Lite," the major indexes struggled to bounce back with any real confidence. The big three ended the week down between 5.5 and 7.8%.

And why was that, do you think? Didn't the bipartisan agreement inspire even a hint of confidence among investors? Not a single day after the thieves and knaves on both sides of the aisle agreed to spend more money they didn't have, the United States officially joined what Bill called the Losers Club: A dubious mob of financial dropkicks who've let their debt to GDP ration balloon out past 100%. Other members include Japan (229 percent), Greece (152 percent), Jamaica (137 percent), Lebanon (134 percent), Italy (120 percent), Ireland (114 percent) and Iceland (103 percent). Congratulations, Uncle Sam. Just a few more months and you can probably get by Iceland...then it'll be time to work towards the Emerald Isle.

My, oh my...what Hell has Washington D.C.'s rodent clerk population guaranteed the once mighty United States? Eric takes a closer look in this week's feature column. (This essay originally appeared on Wednesday, 08/03/11.)

Please enjoy...

Dots
The Fate of Inevitability
The certain future of another declining empire.
Eric Fry
Eric Fry
Eric Fry, reporting from Laguna Beach, California...

Well, that was interesting!

Congress raised the debt ceiling yesterday, while stocks fell through the floor. The Senate voted "Yay" on the legislation, then passed it off to the President for his signature.

Washington was pleased with itself; Wall Street...not so much.

While our elected officials spent the afternoon applauding themselves for their "historic" performance on Capitol Hill, investors were hurling rotten tomatoes. The Dow Jones Industrial Average plummeted 265 points, the S&P 500 slipped into the red for the year, and the gold price rocketed $38.10 an ounce to a new record high of $1,638.40.

The debt ceiling vote probably did not inspire all the selling on Wall Street yesterday, but it certainly did not inspire any of the buying.

Our elected officials demonstrated once again that they are good for nothing (approximately), even on their best days. Not even the "revolutionary" Tea Party contingent could make a visible imprint on the ultimate outcome. It's not their fault; it's nobody's fault in particular; but it's everyone's fault in general.

It is the fault of inevitability.

Democracies vote themselves perks and entitlements they cannot afford...until they go bankrupt. Empires, likewise, gorge themselves until their economies become starved for self-sustaining productivity.

So what hope is there for a democratic empire like America?

The Fates will not be denied. America will grow fat and happy until she cannot lift herself out of her La-Z-Boy to punch a time clock. She will vote herself perks she cannot afford until the day her creditors say, "Enough!" Her fate is certain; the day is unknowable.
But to get an idea what sort of fate may be coming our way, let's cast a glance across the Atlantic.

While the U.S. stock market was tanking yesterday, bond yields around the periphery of the eurozone were soaring. (I.e., bond prices were falling). The PIIGS bond markets seemed to be saying, "Hey, if the U.S. cannot pass meaningful, debt-reducing legislation, what chance do we have?"

Good question.

The U.S. can always print its way to a kind of solvency. The eurozone nations cannot...at least not yet. (We have predicted -- and continue to predict -- that the drachma, escudo and punt will return to the stage within the next two or three years).

Greek bond prices have been tumbling for weeks -- pushing short-term yields above 30%. But that's old news. The newer news is that yields are also soaring in the relatively solvent nations of Italy and Spain. Two-year yields in these two countries are now rising faster than yields in Greece.

1

Admittedly, two-year yields in Spain and Italy are nowhere near Greek yields. But the trend is not comforting. And that's not all...The very newest news is the nascent panic in the core of the euro zone. The chart below tells the tale.

Money Walks

The price of five-year credit default swaps (CDS) on French government debt have rocketed higher during the last few days, which means that investors have become increasingly concerned about the credit worthiness of the French government -- a AAA-rated credit. (CDS, as regular readers know, are a kind of insurance against a default. The greater the perceived risk of default, the higher the price of a CDS).

At 122 basis points per year, the French CDS price is still nowhere near the price of a comparable Greek CDS -- 1,722 basis points -- or a Portuguese CDS -- 962 basis points. But the French CDS is much more expensive than that of any other AAA-rated sovereign credit.

Soaring bond yields in Spain and soaring CDS prices in France are not necessarily cause for concern; but neither are they license for complacency.
 
Dots
Obama's Burning Shame Revealed Here...

This is the unspoken, burning shame that could kill Obama's presidency...

It could spell the end of his short political career...

It's all revealed in this extremely urgent and controversial documentary report >>

Dots
 
ALSO THIS WEEK in The Daily Reckoning...

The Great Correction: 5 Years On...Part II
By Bill Bonner
Paris, France

You will recall. As we ended last week, we were speaking to a crowd at the investment symposium in Vancouver, Canada. We had introduced the provocative idea that maybe the course of history was not something we could understand or control. Maybe destiny, fate, or grand historical forces were at work. We can barely understand them, let alone control them, we argued. As for fighting against them, fugitaboutit. Our speech continues...

The Great Correction...5 years On, Part III
By Bill Bonner
Paris, France

It is true; Washington is paralyzed, but not in the way the commentators think. They'll get a budget/debt deal done. The trouble is, it will be a joke...just like the deal made in Europe. The Greek debt deal was essentially another bank bailout. The US deal is another can kicked down the road...to be stumbled over after the next election.

The Good Kind of Virus
By Ray Blanco
Marco Island, Florida

A proverb derived from ancient Greek drama asserts: "Those whom the gods wish to destroy they first make mad." And truly, the drama of the debt resolution impasse in D.C. reveals a particularly perverse madness. The gross mismanagement of the national economy -- which really boils down to the fatal hubris of thinking 300 million lives and trillions of economic decisions can be centrally managed at all -- has put our continued prosperity at serious risk. We are hanging on in the midst of a hurricane of debt. We will not emerge without first enduring a lot of pain.

A Thousand Pictures Is Worth One Word
By Jeff Clark
Stowe, Vermont

In spite of constant headlines about debts and deficits, most Americans don't really believe the U.S. dollar will collapse. From knowledgeable investors who study the markets to those seemingly too busy to worry about such things, most dismiss the idea of the dollar actually going to zero. History has a message for us: No fiat currency has lasted forever. Eventually, they all fail.

What a Business
By Frederick J. Sheehan

It is a strange time in financial history when a Democrat CEO heaps disgust on a U.S. President from the same political party. It is an even stranger time when Communists feel the need to remind Capitalists to "protect the interests of investors."

 
Dots

Forget the Debt Ceiling "Debate" --
America's Going Bust, on the Road to Bankrupt Hell

If America had a credit card, it would get mercilessly cut up and thrown back in her face.

The country's basically broke and isn't paying its debts. Harsh, but true.

All of that -- and how it could affect your family and your retirement -- is revealed in this urgent video report.

Don't wait, watch now >>

Dots
The Weekly Endnote:
And now, we turn the floor over to our Fellow Reckoners...

First up, this one from Charles C...
 
Fight or Flight ???
 
The Flight is already happening.  It is the new "modus operandi" of entrepreneurial efforts.  Evergreen on the East Coast, maskers of solar panels, lays off 800 workers and moves production to China.  A Wind Generator Company in Sam Diego lays off a thousand and sends production to Mexico.
 
Why Not?  Gross profits are immediately generated.  Labor costs are lower.  No money has to be paid for "Entitlements.
 
Along with this the new technology is handed over to foreign governments.  Why not nanotech, genetics, medical technology....
 
Until this paradigm is minimized, the US will never recover!
 
We need to keep the jobs here first, then generate more jobs.
 
Next up, from from J. Morrison...

...following the Agora conference in Vancouver.
  
On the topic of greatest risk (aka, what keeps you awake at night), anticipated risks are rarely the worst possible.  For example, the risk of a Shiite -- Sunni war cutting off oil is one that is impressive in scale and consequence.  But looking back at history, the greatest risks were often unrecognized.  For example, who knew that shooting a Duke could lead to the WW1, or that a charismatic but frustrated artist wannabe turned author would usher in WW2, and finally who foresaw Dec. 7, 1941? 

So, to the scenarios described by the able Whiskey & Gunpowder panel members, I suggest adding war between China and India.  Imagine that, if the 2 emerging markets that we are collectively depending on to pull our bacon out of the fire, started a fire of their own.  Let's make the basis of the conflict competing water demand, and let's give that the name, Brahmaputra River.
 
My thanks to the Agora personnel and all of the presenters at the conference, it was a pleasure doing business with you.

And finally, an important note from C. Willow...

I object to elected officials being referred to as leaders; they are clerks that have discovered that no one is in charge and have irresponsibly run amok. 

Please, if you must, refer to them as government clerks or some other epithet as calling them leaders implies that they are respected by the populace in general and that we view their actions as honorable and worthy. Calling things by what they are helps people see what is real,  what is hubris, and helps to maintain perspective.

---

If you'd like to weigh in, please feel free to drop us a line at the address below. And, as always...

...enjoy your weekend.

Cheers,

Joel Bowman
Managing Editor
The Daily Reckoning

-------------------------------------------------------------------

Here at The Daily Reckoning, we value your questions and comments. If you would like to send us a few thoughts of your own, please address them to your managing editor at joel@dailyreckoning.com

Dots
The Bonner Diaries The Mogambo Guru The D.R. Extras!

A Good Debtor

The Great Correction: Five Years On, Part IV

The Great Correction:
5 Years On, Part III



China: Where Money Is Treated Best

Buying Gold on the Price Inflation Guarantee

Awaiting the "Zero Hour" of Available Credit
FactorShares 2X (NYSE:FSG): For Only the Most Hardcore Gold Enthusiast

Gold Bugs Rejoice

"Super Congress" is Most Disturbing Component of the Debt Deal
Dots

The Daily Reckoning: Now in its 11th year, The Daily Reckoning is the flagship e-letter of Baltimore-based financial research firm and publishing group Agora Financial, a subsidiary of Agora Inc. The Daily Reckoning provides over half a million subscribers with literary economic perspective, global market analysis, and contrarian investment ideas. Published daily in six countries and three languages, each issue delivers a feature-length article by a senior member of our team and a guest essay from one of many leading thinkers and nationally acclaimed columnists.
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No man in Louisiana would have believed the fearless advocate John Laronde might be panicked by a snapshot. But it had taken him quite by surprise. It had come so suddenly.

 

Saturday, August 11, 1934, was etched permanently in John Laronde’s mind. It had begun as any other, with no premonition of the terror waiting at his office.

He dallied over his breakfast, savored a second cup of coffee, and had his usual morning chat with his lovely Ruth and their beloved daughter, Helen, in the cool, old-fashioned dining room of Windsong, their magnificent plantation manse. Typical in fine Southern homes built one hundred years earlier, a magnificent, hand-polished, mahogany ceiling punkah, or fly fan, hung lazily above the Louis XIV dining table.

Sterling silver trays, chafing dishes, and incidental crystal pieces—gathered over many trips to New Orleans’ antique and secondhand shops—glistened on the sideboards. An oriental rug accented the highly polished, six-inch-wide, oak hardwood floor beneath the twelve-feet-long dining table.

Unique pastel frescos adorned an azure ceiling with soft, white clouds floating above detailed local landscapes and waterscapes that decorated the walls tastefully. At the frescoed horizon on one side was a large, ornate, gilt-framed mirror facing a portrait of Helen. Its décor was complemented by end-wall sconces which, when lighted in the evenings, generated a softly romantic glow.

The decorative, double, eight-panel sliding door from the dog trot and two eight feet tall, glazed, divided-light windows with wide, especially milled casings, trim, and high baseboards were soft white, providing a muted, tasteful motif overlooking the rose garden with its flagstone paths and white wrought-iron benches. From the dining room into the kitchen was a double-swinging, eight-panel service door for easy access with large service trays.

In his white linen suit, he strolled with one arm tenderly around the mother and the other lovingly around the daughter—three abreast—to the front porch. Tobe stood alongside the black Packard sedan waiting.

With her warm, slate-blue gaze, Ruth eyed him adoringly and kissed him on the cheek. Slim, tawny-haired Helen was in a tan blouse, velvet-covered fox hunting hat, and sporting beautifully tailored brown jodhpurs and freshly polished boots. Excitement was in her eyes as she slashed at her riding breeches with her crop, anxious to be astride Snip-Snap.

The lanky, prosperous lawyer stepped into his car, and Tobe started for town, winding along the driveway under its ancient oaks to its whitewashed gates. There, as usual, Tobe paused as he turned into the high road so John could wave his panama hat to the loveliest of women as she blew a kiss from her porch. Nothing was different from any of his other sunny days.

Opposite his gates, across the concrete road, was a small, red bungalow. Ebba Sintram’s Scandinavian face hung over its fence for a ruddy “Good morning, Mr. Laronde,” while Tobe stopped to pick up Olaf, her husband.

After two miles of smooth driving, he dropped off Olaf for his work at the McFadden Lumber Company. Tobe reached Laronde Street, named in honor of his boss. In the center of Rochelle’s business district, the Packard stopped at the Ruth Building, owned by and named for Ruth Laronde. Kearney’s Drugstore occupied its corner with the Bank of Rochelle adjoining. Between the two, a door to a flight of steps was marked by the brass plate, “John Laronde, Attorney at Law.”

When the sedan halted at his door, the boss unfurled and said, “Tobe, this evening, I wish you’d stop and get Mr. Sintram first then come for me. I’ve been gone four days, and my desk will be cluttered with work that may make me late.”

“Yes, sir. Mr. Sintram loves to hang around Kearney’s Drugstore ’til you are ready to go home.”

Laronde, in his linen suit, climbed alertly up his own stair. He had never felt more secure. After all these unmolested years, it seemed impossible that harm could touch him now. His moral prison was a fading reality. Vindication was the furthest thing from his mind.

In the entry hall at the head of the stair, Joney Applegate popped up from his porter’s seat as comically as a jack-in-the-box, snatched off a braided cap, and saluted. “Mornin’, Mr. John. I’m glad you are home agin, sir.”

“So am I, Joney. Everything okay?”

“Fine, sir. I kep ’em hustlin’ while you was gone.”

“Bully for you! This place couldn’t rock along without Ol’ Joney.”

John always paused to josh Joney before entering the main office of the spacious suite. These were different from the sparsely furnished spaces of most country lawyers. More as a friend than an employer, John passed through the stenographer area, greeting the ladies. He paused briefly at each nicely appointed individual office with words of counsel here and there to junior partners or to clerks who asked questions about cases; then he strode past the extensive law library to the door of his sanctuary marked “Mr. Laronde.”

His private office was paneled in polished gum, with bookcases filled with volumes used constantly. A small safe in the corner contained his personal papers. On a flat-topped mahogany desk, his secretary had laid out four neat stacks of mail, as it had come day by day during his absence. These were matters the chief had to see for himself. Routine correspondence was handled by juniors.

Everything was as it should be. With a glance of approval, John had gone to a wide front window overlooking Laronde Street when Miss Fenner, a tiny, blue-eyed wisp of competency, entered and greeted him.

“Top o’ the morning, chief. Anything special for me?”

John turned to face his seasoned stenographer, who had been his right hand since he established the practice in Rochelle, and said, “Don’t know yet, Miss Fenner; not until I read the mail.”

“Had an exciting trial in New Orleans, didn’t you?”

“Yes. Hard fight.”

“The newspapers said you cleaned ’em up.”

“Things turned out very well.”

“Judge Coburn has been phoning and wiring from Shreveport. Here are his telegrams.”

“Thanks. I must jump on that case at once.”

“Chief, here are the checks I made out for you to sign in the Vulcan Oil distribution.”

“Good. We’re going to be in a jam until I catch up.”

“Plenty to do. Better glance over your appointments for the day. The first is with Mr. Weathersby at ten,” she reminded him, laying the memo, the checks, and the telegrams on his desk.

“Now I’ll finish the Sanders brief and be ready when you ring.”

In the adjoining office, her typewriter began its clicking and dinging. So far nothing had happened to frighten even a skittish rabbit. Her chief sat in his revolving chair and drew the first pile of letters to him. The mahogany slab was clear except for the four innocuous-looking stacks of mail.

His past four days in New Orleans had been refreshing in spite of some trying moments filled with intricate legal maneuvers in Federal District Court. He was capable, self-assured, and humbly thankful for his successful law practice, their gracious antebellum home, and Helen and Ruth, the fulfillments of his life’s goals. His thoughts wandered back to his recent trips to the Crescent City.

His arrivals and check-ins at Hotel Monteleone had always been pleasant. Turning from Canal Street’s breadth of 170 feet into Royal Street’s thirty-five feet or so made John feel like he was going from a wide plain into a narrow canyon.

It had been the Commercial Hotel at Royal and Iberville streets before Antonio Monteleone bought its sixty-four rooms in 1886 and changed the name to his own in 1908. Henri, the concierge, happy to see him again, took the Packard to the hotel’s lot.

He chose that location for its proximity to the courthouse as well as for the fine restaurants and shops that he, Ruth, and Helen enjoyed when they visited the city. Besides that, Bill and Jimmy Monteleone were friends, and John enjoyed talking with them and their writer guests.

This was their headquarters in New Orleans. It was located centrally to the many antique shops and secondhand stores they enjoyed as they meandered their ways among them indiscriminately. During one such escapade, while John was in court, Ruth and Helen revisited a shop where John had eyed a man’s silver grooming set in a hand-tooled case complete with a pair of hair brushes, a collapsible clothes brush, a soft shoe-shining cloth, a shoe brush, a manicure set, a comb with a silver spine, and a silver toothbrush sleeve. John had felt it was too extravagant, but Ruth and Helen felt he deserved it.

After cleaning each piece thoroughly and polishing its silver, Ruth and Helen wrapped this find and set it aside to give John for the coming Christmas.

Thinking of Antoine’s Restaurant three blocks down Royal, he salivated recalling its delicious, mouth-watering pomme de terre soufflés (appetizing fluffed potatoes) and its pompano en papillote (pompano cooked in a parchment bag with an especially flavored wine sauce).

Arnaud’s, two blocks away on Bienville, was another favorite. Its mosaic-tiled floors, linen tablecloths, starched linen napkins set at attention, lovely silver place settings, and Guillome, the gracious maître d’, were always wonderful respites after a busy day.

Its second floor Mardi Gras Museum with jeweled ball gowns and memorabilia of Germaine Arnaud Wells’ memberships in the local krewes, including her reign as Queen of Carnival, were especially intriguing for young Helen. Germaine, Count Arnaud’s daughter and a friend to John and Ruth, told many stories during their wonderful dinners together and took great delight in showing Helen the many mementos from her numerous festive carnival occasions.

Another of their favorites was Tujague’s, a delightful eight-block stroll from the Monteleone among the French Quarter’s intriguing stores, shops, Jackson Square, the Cabildo, and St. Louis Cathedral. They crossed Decatur Street to the French Market and the Café du Monde on the Mississippi River, where they enjoyed beignets with powdered sugar and cafés au laits every trip.

When they felt particularly frisky during their walks, one of them would begin an unpredicted powdered sugar challenge by blowing some of the white, preciously sweetened substance from a beignet on the unsuspecting ones. It seemed the action occurred invariably when they were wearing dark clothes. They went from fashionable to splotched instantly.

Going back to the hotel was out of the question since they were enjoying themselves so much. They went along their ways conscious of the “dustings” yet undaunted by the streaks and patches of white.

John’s absolute favorite moments at the Cabildo were to admire the color and detail in Thure de Thulstrup’s painting The Hoisting of the Colors, painted in 1903 in honor of the Louisiana Purchase centennial. John often marveled how anyone could have recreated that event so vividly, with such detail. John acquired the original proof of the painting that de Thulstrup presented to the legislature for approval and exhibited it between the beautiful leaded glass windows on the right side of the massive front door in Windsong’s foyer.

He admired it each time he came downstairs. Beneath the matching leaded glass windows on the left side of the door was a Louis XIV receiving table complete with a silver tray for callers’ engraved cards and a visitors’ calling registry and quill pen with ink well.

From the Monteleone, John, Ruth, and Helen often stopped at Hurwitz-Mintz, Rothschield’s, Royal Antiques, Manheim Galleries, M.S. Rau Antiques, and others among their favored shops along Royal Street. They visited stores that displayed elegant furnishings; silver; crystal; or unique, eye-catching pieces.

Their carefree visits often saw the three of them strolling animatedly down Royal Street’s narrow sidewalks like happy schoolchildren, laughing from shop to shop and walking hand-in-hand-in-hand as they sidestepped the iron columns supporting the wrought-iron balconies above their traipsways. Although most of the onlookers smiled when they saw them frolicking, some few looked down their noses at the cavorting.

Ruth and Helen marveled openly as they examined exquisite items, while John talked with staff members and clerks to learn stories behind special pieces. When larger ones were chosen, negotiations began in earnest, and John made arrangements for their deliveries to Rochelle. If Ruth or Helen chose a piece of jewelry or a small trinket, John would have it wrapped for a festive presentation at dinner that evening.

Madame Begue had opened Tujagues, New Orleans’ second oldest restaurant, on Decatur Street in 1863. Highlighting its back wall was an ancient mirror that had been in a Paris bistro for ninety years before it arrived in New Orleans, and it had a cypress bar that had survived prohibition. John remembered with great savor its shrimp rémoulade, beef brisket with Creole sauce, and its especially tasty pecan pie.

Sprinkled among all these special places were spates of Dixieland jazz. Some were individuals making clarinets wail woefully along the sidewalks while trumpets and saxophones answered them, bringing plaintive tunes to life.

From earlier street entertainers had grown the established music houses whose musicians played around the clock. At Hyp Guinle’s Famous Door on Bourbon Street, for example, one band would play with non-stop vigor for half an hour followed by an industrious set by another band for the next half hour. Then the first one would come back on stage. That rotation continued until all hours.

Frequently, when celebrity musicians stopped, they brought their instruments with them, becoming a part of the groups as they seemed to go into trances as they played. They went on and on without regard to time but for the sheer pleasure of being together and contributing to the trademark music of the Crescent City.

Enough of the memories, he thought.

He began with the left stack of mail, received Tuesday, August 7—run-of-the-mill correspondence.

One envelope seemed different. “Strictly Personal” had been hand-lettered across it. That caught his eye. It was a photographer’s carrier addressed to “Honorable John Laronde, Ruth Building, Rochelle, Louisiana,” with the first word underscored heavily. He reached for his letter opener and slit the envelope, removing an amateur snapshot of a college student who posed on an attractive campus wearing shorts and a sweater, cradling a tennis racket.

“Well, well, well,” the lawyer mused aloud with a reminiscent smile. “Who’d think this picture would turn up after so many years?”

Shifting the card this way and that, he moved back to the window for better light and examined the faded portrait of himself as a twenty-two-year-old.

“Yes, I was darned good looking that year I won the singles championship.”

He saw nothing in the snapshot to frighten him, and the pleased expression held as it might have lingered about the lips of any middle-aged man who looked tolerantly upon his youthful adventures.

“Those were happy days. Spalding wanted to win and played like a demon in the finals. Let me think. Thirty years ago. How it all floods back like yesterday. That’s Paralee Hall in the background. To the left is our old dormitory. That’s the barracks. Wonder who sent it?”

Any other alumnus might have wondered without a frown which of his college friends had remembered him, but when the thought first struck John, every line in his face began to harden as if that merry lad with the tennis racket were a thing of awful menace. Quickly he flipped over the card. At its top he saw written the lone word “Duplicate” while at the bottom was “Francis Elliot Coulter, taken May 17th, 1904.”

Snatching out his linen handkerchief, John wiped the dapples of cold sweat from his forehead as he sank into a chair. Who could it be, besides Ruth, who now connected this long-missing college boy with a certain prominent attorney in Rochelle? As far as John believed, none of his classmates knew what had become of him. He had taken such great pains to obliterate every track of the student before the Louisiana lawyer began to make a track. Yet, somebody had linked him to a continuous trail.

By instinct and training, John Laronde never dismissed any fact. Here was a fixed one. Somebody had discovered who he was and where he was. His legal mind reasoned that person could destroy him!

No man in Louisiana would have believed the fearless advocate John Laronde might be panicked by a snapshot. But it had taken him quite by surprise. It had come so suddenly.

Three decades ago, Francis Coulter had vanished from New York City to hide in a lumber camp in southwest Louisiana, where John Laronde stepped into his shoes so long ago that he felt no further dread of recognition.

None of his classmates had ever heard the new name he coined for himself, yet someone must have learned the two were identical and could now put his finger on Francis Coulter sitting at the desk of John Laronde. Should any inquisitive person begin to investigate, that could be proven.

Who sent this snapshot? Who could have sent it? John’s shaky fingers fumbled with the envelope while his eyes stared again and again at the address. The envelope told him nothing. It was a common type. It could have been bought in any shop. Its upper left corner bore neither a return address nor the sender’s name, but merely the written words “Mailed at New York City, August 5th, 1934.”

Postmarks proved the point of mailing and the date. The letter was unquestionably authentic.

John sat at his desk trying to imagine how anyone knew where he had gone. He had slipped away from his New York lodging house without an idea of destination and drifted to Dead Cypress Camp as the least likely spot for an old acquaintance to blunder into him. Since then, neither he nor Ruth had seen one solitary, familiar face from their younger days. By his most intense reasoning, John could think of no way for this hideous thing to happen.

It must be a joke. He wanted to believe it was a prank and tried to dismiss it with a wave of his hand that knocked over the second stack of letters, exposing another similar envelope.

“What’s that?” He jerked his hand away as if from a rattlesnake coiled on his desk. Yet, there lay the venomous thing. Must I open it?

The second envelope matched the first. The address was the same. Honorable was underscored as before. Inside he found a photograph of Mrs. Bedloe’s lodging house, No. 16 Sandringham Square, New York City. On its reverse, this card was marked “Duplicate” also—nothing more. It needed nothing, for Francis Coulter recognized the roof that had sheltered him while he was at Columbia.

This anonymous writer, whoever he was, had traced Francis Coulter from college to New York. He had even found the old house where he lived before coming to Louisiana. The photograph was mailed from Philadelphia on August 6, the day after Coulter’s snapshot had been sent from New York. From Philadelphia? Why Philadelphia? It was marked “Duplicate” like the first. The sender must have kept the original.

In the third stack, there was only a postal card, an ordinary picture postal showing “The Residence of Hon. John Laronde, Rochelle, La.” Such a card might have been sold at Kearney’s Drugstore. And John saw no reason why this meddlesome incognito should take the trouble to send him one from Baltimore. No message was written on the card, nothing except “Mailed at Baltimore, August 7th, 1934.”

Stack four offered another envelope. John opened it with the same care. This one held a photograph of the shack at Dead Cypress Camp where he and Ruth had lived during their first years in Louisiana. There was the well-remembered oak spreading its branches protectively above the roof and a fence of cypress pickets guarding Ruth’s painstaking attempts to grow flowers. In one corner of the yard nearest the saw mill stood his original office of rough boards, where he had hung out the shingle he had painted himself: “John Laronde, Attorney at Law.”

In that office, John had begun his career on a table of boards that was starkly different from the beautifully polished mahogany slab in the Ruth Building. The clock on his desk ticked industriously while his mind raced backward along his trail from New York City, but he couldn’t think of even one single false step he had made.

Yet, here were these photographs. Hundreds of boys had known Francis Coulter at college because of his athletic ability; a dozen or so in the New York law school might recall him vaguely and by some improbable accident might have stumbled upon his location at Rochelle as his reputation grew. But tracing him to Dead Cypress Camp could not have happened by chance.

That crude little shack beneath the huge oak had been their honeymoon house, where he and Ruth had made a start starkly different from their upbringings, pulling together like dray mules.

Continues...

 
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Excerpted from Duplicate by Harris Dickson Shortle. Copyright © 2009 by Harris Dickson Shortle. Excerpted by permission. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing.
 

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