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The action is, however, not maintainable at the suit of a fuller or tailor, unless he is solvent, that is to say, unless he is able to fully indemnify the owner; if he is insolvent, the owner cannot recover from him, and so can maintain an action against the thief, being, on this hypothesis, interested in the recovery of the property.
Actuated by similar views, Congress at their last session passed an act for the relief of certain insolvent debtors of the United States, but the provisions of that law have not been deemed such as were adequate to that relief to this unfortunate class of our fellow-citizens which may be safely extended to them.
But it is unseemly to see such a Grand Potentate in such a state of decay: the son of Bajazet Ilderim insolvent; the descendants of the Prophet bullied by Calmucs and English and whipper-snapper Frenchmen; the Fountain of Magnificence done up, and obliged to coin pewter!
Then the legislature charged themselves with the extension of a power, which perhaps a chancellor no longer thought himself safe in exercising; and in the year one thousand six hundred and seventy, passed the first act for the relief of insolvent debtors, granting a release to all prisoners for debt, without distinction or inquiry.
A series of drafts, to the amount of £69,000, were therefore dishonoured; and the merchants, finding the drafts to be worth no more than so much paper, demanded their money from the Governor; but he had nothing with which to pay, and the colony had to be declared insolvent, having debts to the amount of about £400,000 which it could not meet.
At any rate, I will gain a little time for thought and discussion. Went to Court. At returning settled with Chief-Commissioner that I should receive him on 26th December at Abbotsford. After all, may there not be, in this failure to please, some reliques of the very unfavourable matters in which I have been engaged of late, the threat of imprisonment, the resolution to become insolvent?
Lond. 1733; are some remarks in reference to the release of insolvent debtors from gaol, which I deem it proper to extract and annex here; and the rather, because the work is exceedingly rare.
Conversely it is clear, that if, at the outset, the owner began an action on the loan against the borrower, not knowing that the property had been stolen, and subsequently, on learning this, proceeded against the thief instead, the borrower is absolutely released from liability, whatever may be the result of the owner's action against the thief; the rule being the same, whether the borrower be wholly or only partially insolvent.
He was impelled, further, by the conviction notwithstanding unimpeachable evidence to the contrary that the Bank was insolvent, and by his indignation at the refusal of Biddle and his associates to accept the electoral verdict as final. "Biddle shan't have the public money to break down the public administration with. It's settled. My mind's made up."
Barlow had left us, Lady Belfield, turning to me, said, "She had had a governess proposed to her from a quarter I should little expect to hear." She then produced a letter, informing her that Mr. Fentham was lately found dead in his bed of an apoplexy. That he had died insolvent; and his large income ceasing with his life, his family were plunged into the utmost distress. That Mrs.
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