In the January 3, 1862 Washington Statesman, a "sheriff's sale" advertisement was featured as usual. A debtor defaulted on a loan and the Court ruled in favor of the creditor. This was followed by the not so surreptitious sheriff's sale. Personal assets were involved when the case was a business vs. individual citizen or an individual citizen vs. individual citizen. This 1862 issue announced the sale of John Buseanger's personal property after losing in Court to Christ Kirtz on December 16, 1861. The sale was "to satisfy said execution [from the Court], or so much thereof as may be necessary, and cost and interest, and all accruing interest, costs and charges." The sale had to be public and well advertised so that the victorious plaintiff could get as much money as possible. These sales served the purpose to get maximum financial proceeds to plaintiffs, such as Kirtz. The original amount owed was rarely the final amount, because the plaintiff would request payment for court costs and accrued interest. Although not necessarily granted, the sale would help defray court costs. The defendant could lose everything. The creditor received payment, if not a long-term client. The boom-bust cycles of American capitalism were as much a microeconomic as a macroeconomic phenomenon.
