"But that’s one thing Ah likes about Spunk Banks—he ain’t skeered of nothin’ on God’s green footstool—nothin’! He rides that log down at the saw-mill jus’ like he struts ‘round wid another man’s wife—jus’ don’t give a kitty. When Tes’ Miller got cut to giblets on that circle-saw, Spunk steps right up and starts ridin’. The rest of us was skeered to go near it."

Elijah Mosley offers this description of Spunk’s courage in the opening scene of the story, after the loungers have watched Spunk go into the woods with Lena. In this passage, Elijah offers his understanding of the meaning of courage. While Spunk’s recklessness at the sawmill is an aspect of his dangerously toxic masculinity, Elijah appreciates it. He admires the way Spunk moves through the world without worrying over social norms or physical danger. To Elijah, Spunk’s indifference to obstacles and risk sets him apart from the rest of the crowd. Elijah describes himself and the other men at the sawmill the day Tes’ Miller was killed as frightened to return to the saw, having just seen it kill a man. In contrast, bold Spunk faces the saw without evident worry, even though its dangers have just been demonstrated. The Spunk of the first part of the story never loses his nerve, and Elijah argues that makes him brave and admirable. This disseminated perception leads Elijah and the other loungers to goad Joe and Spunk to greater heights of macho conflict, ultimately resulting in both men’s deaths.

"Know what Ah think? Joe was a braver man than Spunk."

There was a general shout of derision from the group.

"Thass a fact," went on Walter.

Walter makes this assertion in the third section of the story, as the loungers discuss the appearance of the black bobcat ghost and Spunk’s fear of it. This section marks a turning point in the group's perception of Spunk and Joe, set off by Walter’s argument that Joe, contrary to popular opinion, was the braver man. Walter argues that Spunk’s indifference to fear makes his willingness to face danger unremarkable, and that it took real bravery for Joe to face up to Spunk because Joe was frightened to do so. Furthermore, Joe’s fears were grounded in reality, since Spunk is known to be strong, ready to fight, and armed with a gun. While Elijah admires Spunk’s boldness, to Walter, that is not the same as courage. Courage, in Walter’s eyes, is walking into danger in spite of fear. Although the men initially react to Walter with derision, by the end of this speech, they begin to accept his point of view as the truth. At this point in the story, public perception shifts away from admiration of Spunk’s ego-driven recklessness and dictates the tone of his legacy after death.