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Ten years later I went through the province by rail on my wedding journey. At Dorchester, the next village beyond Moncton, I was shown a place where insolvent debtors were kept "on the limits." "By stopping there," said my informant, "you can see Dr. Foshay." I suggested the question whether it was worth while to break our journey for the sake of seeing him. The reply of my informant deterred me.
His experience on the lock gave him such an acute perception of the enormous difficulty of 'tying up' money with any approach to tightness, and contrariwise of the remarkable ease with which it got loose, that through a series of years he regularly propounded this knotty point to every new insolvent agent and other professional gentleman who passed in and out.
My father died insolvent and the homestead was sacrificed to pay his debts. My sisters returned to relatives in the East, but owing to your kindness John and I, then twenty-two years of age, obtained employment in San Francisco, in different quarters of the town. Circumstances did not permit us to live together, and we saw each other infrequently, sometimes not oftener than once a week.
It was Caesar who first gave an insolvent the right on which our modern bankruptcy regulations are based of formally ceding his estate to his creditors, whether it might suffice to satisfy them or not, so as to save at all events his personal freedom although with diminished honorary and political rights, and to begin a new financial existence, in which he could only be sued on account of claims proceeding from the earlier period and not protected in the liquidation, if he could pay them without renewed financial ruin.
So far is fixed: and people vainly imagine that at length a station of rest is reached, and that in this direction at least, the onward march of law is barred. Not at all. Suddenly a schoolmaster becomes insolvent, and attempts to avail himself of privileges as a technical bankrupt.
Then the banks went bust, and my last boss went insolvent, and one of his partners went into Darlinghurst for suicide, and the other went into Gladesville for being mad; and one day the bailiff seized the cart and horse with me in it and a load of timber. So I went home and helped mother and the kids to live on one meal a day for six months, and keep the bum-bailiff out.
Kennedy fumbled in the drawer of the desk, then drew forth a long strip of paper covered with figures. "All the Stacey companies," he said, "have been suffering from the depression that exists in the trade at present. They are insolvent. Glance over that, Stacey. It is a summary of the preliminary report of the accountants of the district attorney who have been going over your books to-day."
Ellison has enjoyed since her husband's death has, at the final settlement of his estate, been cut off, the estate proving to be utterly insolvent. A month has elapsed since she has been deprived of all means of living beyond the small sum of money that happened to be in her hands, an amount not over thirty or forty dollars.
This aristocratic money-lending proved a hopeless trade; it only plunged Derues deeper and deeper into the mire of financial disaster. The noblemen either forgot to pay while they were alive, or on their death were found to be insolvent. Derues was driven to ordering goods and merchandise on credit, and selling them at a lower price for ready money.
"And here comes Mademoiselle de Reineck, with her companion. You see she is wearing out one of the faded silk gowns which she has spoiled at the Residenz during the season: for the Reinecks are economical, though they are proud; and forced, like many other insolvent grandees, to do and to wear shabby things.
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