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The real and true test of a refined polity is not the gallows; but is to be found rather in such well-imagined insolvent laws, as discharge a maximum of debt with a minimum of assets; and rid a gentleman annually of his duns, with the smallest possible quantity of corporeal inconvenience.
Unfortunately for Balboa a law had been passed forbidding any vessels bound for the mainland taking insolvent debtors on board, but his ingenuity was equal to this emergency, for he had himself rolled in an empty barrel to the vessel which was to carry Encisco to Darien.
If a finance Minister, having entrusted his money to a bank, begins to act strictly, and say he will in all cases let the Money Market take care of itself, the reply is that in one case the Money Market will take care of him too, and he will be insolvent. In the infancy of Banking it is probably much better that a Government should as a rule keep its own money.
Next season, when I read of Lady Carabas's splendid entertainments in the MORNING POST, and see the poor old insolvent cantering through the Park I shall have a much tenderer interest in these great people than I have had heretofore. Poor old shabby Snob! Ride on and fancy the world is still on its knees before the house of Carabas!
It consists to-day of a few remnants of a past time, and a number of people eager to make fortunes, industrial Micawbers and speculators of whom one may amass a fortune, while ninety-nine become insolvent, and more than half of the ninety-nine live by perpetually repeated failure.
Robert Visigoth, attorney-at-law, whose practice had suddenly, by one of those arbitrary twists as difficult to account for as the changed course of a river, assumed a theatrical twist, had taken over, on cleverly obtained backing, the Union Family Theater from an insolvent client.
Phineas was his confidential clerk, and, if he did not reap much financial benefit from his position, he at least obtained a good business education. On the 7th of September, 1825, the father, after a six months' illness, died at the age of forty-eight, leaving a wife and five children and an insolvent estate.
At the inception of the struggle a large amount of Southern indebtedness was held by the people of the North. To force payment from the generous but insolvent debtor to obtain liquidation from the Southern planter was really the soulless and mercenary object of the craven Northerners. Let the common people of England look to this.
And if you have all that men can acquire of the lower things of life, whether of what is generally called wealth or of other material benefits, and have that great indebtedness standing against you, you are but an insolvent after all.
Before going into an examination of the laws by which these servants were protected, I would just ask whether American slaves have become slaves in any of the ways in which the Hebrews became servants. Did they sell themselves into slavery and receive the purchase money into their own hands? No! Did they become insolvent, and by their own imprudence subject themselves to be sold as slaves? No!
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