Elder Joseph B. Wirthlin:
Let me tell you the story of one man who sacrificed greatly to maintain his own financial integrity and honor.
In the 1930s Fred Snowberger opened the doors of a new pharmacy in northeastern Oregon. It had been his dream to own his own business, but the economic turnaround he had hoped for never materialized. Eight months later, Fred closed the doors of his pharmacy for the last time.
Even though his business had failed, Fred was determined to repay the loan he had secured. Some wondered why he insisted on repaying the debt. Why didn’t he simply declare bankruptcy and have the debt legally forgiven?
But Fred did not listen. He had said he would repay the loan, and he was determined to honor his word. His family made many of their own clothes, grew much of their food in their garden, and used everything they had until it was thoroughly worn out or used up. Rain or shine, Fred walked to and from his work each day. And every month, Fred paid what he could on the loan.
Years passed and finally the wonderful day arrived when Fred made the last payment. He delivered it in person. The man who had loaned him the money wept and with tears streaming down his face, said, “You not only paid back every penny, but you taught me what a man of character and honesty is.”