Economics -- Early works to 1800; Finance -- Great Britain; Great Britain -- Economic conditions -- 18th century
1. The severities to the debtor are unreasonable, and, if I may so say,
a little inhuman, for it not only strips him of all in a moment, but
renders him for ever incapable of helping himself, or relieving his
family by future industry. If he escapes from prison, which is hardly
done too, if he has nothing left, he must starve or live on charity; if
he goes to work no man dare pay him his wages, but he shall pay it again
to the creditors; if he has any private stock left for a subsistence he
can put it nowhere; every man is bound to be a thief and take it from
him; if he trusts it in the hands of a friend he must receive it again as
a great courtesy, for that friend is liable to account for it. I have
known a poor man prosecuted by a statute to that degree that all he had
left was a little money which he knew not where to hide; at last, that he
might not starve, he gives it to his brother who had entertained him; the
brother, after he had his money quarrels with him to get him out of his
house, and when he desires him to let him have the money lent him, gives
him this for answer, I cannot pay you safely, for there is a statute
against you; which run the poor man to such extremities that he destroyed
himself. Nothing is more frequent than for men who are reduced by
miscarriage in trade to compound and set up again and get good estates;
but a statute, as we call it, for ever shuts up all doors to the debtor’s
recovery, as if breaking were a crime so capital that he ought to be cast
out of human society and exposed to extremities worse than death. And,
which will further expose the fruitless severity of this law, it is easy
to make it appear that all this cruelty to the debtor is so far,
generally speaking, from advantaging the creditors, that it destroys the
estate, consumes it in extravagant charges, and unless the debtor be
consenting, seldom makes any considerable dividends. And I am bold to
say there is no advantage made by the prosecuting of a statute with
severity, but what might be doubly made by methods more merciful. And
though I am not to prescribe to the legislators of the nation, yet by way
of essay I take leave to give my opinion and my experience in the
methods, consequences, and remedies of this law.
All people know, who remember anything of the times when that law was
made, that the evil it was pointed at was grown very rank, and breaking
to defraud creditors so much a trade, that the parliament had good reason
to set up a fury to deal with it; and I am far from reflecting on the
makers of that law, who, no question, saw it was necessary at that time.
But as laws, though in themselves good, are more or less so, as they are
more or less seasonable, squared, and adapted to the circumstances and
time of the evil they are made against; so it were worth while (with
submission) for the same authority to examine:
1. Whether the length of time since that act was made has not given
opportunity to debtors,
Public-domain text, read in full here on John Shaqi.
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