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Updated: May 11, 2025
As there are many Barbary Jews at Mogador, more or less under British protection, I took the liberty of reminding them of their liabilities as British subjects, by circulating among them copies of Lord Brougham's Act. I had some conversation with Rabbi-El Melek and other Jews about the question of abolition, Traveller. "What is the opinion of the Jews of this country on the matter of slavery?"
True economic reclamation is a process of converting liabilities into assets of transforming dormant natural resources into agencies of living production. When such a process is intelligently applied it should be able to pay its own bills without placing fresh burdens on the national treasury.
I also knew that the larger part of the entire liabilities in San Francisco were in the burned area and that if the safe did not afford protection it would mean the loss of the company's records, leaving it without means of ascertaining the amount of the loss until claims were filed. This would cause a delay of several months before the exact total could be developed.
It is imagined that you have only to take the liabilities of the Banking department, and that a third or some other fixed proportion will in all cases be the amount of reserve which the Bank should keep against those liabilities. But to this there are several objections, some arising from the general nature of the banking trade, and others from the special position of the Bank of England.
If the antecessor was himself the third life, the grantee, his heir, had no claim to the land; and in any case he could take in only with all its existing liabilities. But the grantee often took possession of the whole of the land held by the antecessor, as if it were all alike his own.
Jerome was aware of the full extent of the trouble, the Company was ruined. Its liabilities were heavy, and every dollar's worth of Jerome's property was taken to meet them. Honest to the core, he gave up every thing. His elegant mansion was sold, and he was forced to remove to an humble cottage, a poorer man than when he had first set up for himself as a carpenter.
If I have not received, or if I have refunded, any direct contributions I may have received from the coffers of the State; if I have paid my pro rata share of its establishment charges i.e. of the costs of both internal administration and external defence; and I have further paid my proportional share of whatever may be required to make up for the deficit incurred on account of my fellow-men and women who either require direct assistance from the State, or cannot meet their share of the expenses of the State, I am a solvent citizen; and if I fail to meet these liabilities, I am an insolvent citizen even though I pay such taxes as the State insists upon my paying.
The selling of the cattle and the various effects realized only enough to discharge the liabilities, and when this had been done Dave found himself with a considerable area of unmarketable land, a considerable bundle of paid bills, and his horse, saddle and revolver. He rode his horse to town, carrying a few articles of wear with him.
He relieved her of that fear, and she restrained her curiosity until boredom seized her. The silence and the scratching of his pen began to grate on her nerves. "What is all the clerical work about?" she inquired. "Reckoning your assets and liabilities?" Bill smiled and pushed aside the paper. "I'm going to promote a mining company," he told her, quite casually.
He said nothing about manliness, pluck, history, or Auld Lang Syne. He said he had given his services as Chairman to the football club for thirteen years; that he had taken up £2000 worth of shares in the Company; and that as at that moment the Company's liabilities would exactly absorb its assets, his £2000 was worth exactly nothing.
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