Mr. Jefferson reads the book of Rip Van Winkle. Rip Van Winkle appears to him in a reverie as an idle young fellow, whose wife labors at the wash tub to make a scanty livelihood for their daughter Meenie and herself. Rip spent all the money he obtained in mortgaging his property to Derrick von Beekman, the wealthy money lender of the village of Fallen Waters, who has taken all of Rip's lands. The property was only mortgaged, but if it were sold to pay off this mortgage, it would sell for more than enough to pay off the loan on the land, and the balance would revert to Rip Van Winkle. Derrick von Beekman, being notified of this by his counselor, tries to get Rip to sign away all claims on the mortgages. To induce Rip to do this, he voluntarily lends him sixteen pounds to be paid twenty years from date, without interest. Rip is persuaded by von Beekman to accept the money and starts anew by standing treat to the whole village. Von Beekman tries to get Rip to sign away all his claims, ...
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