This quote is an example of characterization as it explains the type of character Fortunato is "a man to be respected and even feared." It should be noted that Fortunato's name is an example of irony because in the end he is not fortunate.
William Gilmore Simms deserve to be known and studied by many because he has good stories and his humor is good. His choice of topics, characterization, format and narrative power proves that Simms is a master storyteller.