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Updated: June 13, 2025
He was apt to hold commissions to purchase land for his friends who remained east of the mountains. The land was turned to use by private individuals and by corporations; it was held for speculative purposes; it was used for the liquidation of debts of every kind.
One had left his change on the piano; another was looking forward to an early liquidation of small liabilities on the return of his ship to port; another would see about it next time Sunday come of a Friday, and so on.
The payments were sufficiently large to make the whole hungry crew hear that his lordship was paying his debts, but not at all sufficient to satisfy their craving. Indeed, nearly the whole went in liquidation of turf engagements, and gambling debts.
Were that debt therefore transferred to another mortgagee, we might stipulate for their exception, and in so doing secure a sum of more than 100,000 francs, which you could keep in reserve for a pressing or unforeseen occasion, and make the nucleus of a capital devoted to the gradual liquidation of the charges on the estate.
The event is noticed everywhere at once: the town's three lawyers notice it, the three little local papers notice it; money is circulating more freely of late. Unproductive but it helps the town to live. Every week the little local papers advertise town properties for sale; every week a list is issued by the authorities of houses to be sold in liquidation of the unpaid tax. What then?
"Ingratitude, my dear Archie, is reserved for the highbrow moralist; I trust these people with my life and liberty, and they know I'll not only protect them but that my facilities for shielding them and assisting in the liquidation of their loot is theirs to command. While they are here their lives are wholly circumspect, though they are not without their temptations.
The lives of millions of veterans and war workers will be greatly affected by the success or failure of our program of war liquidation and reconversion.
They impose no undue burden and are mutually beneficial in the observance of international faith and the improvement of international credit. Every reasonable effort will be made to secure agreements for liquidation with the remaining countries, whenever they are in such condition that they can be made.
We welcomed the English stories of a decade ago that began to give the complexities of life instead of the conventions of a plot. But this complete liquidation rather appals us. The novels I have mentioned so far in this article have all together not enough plot to set up one lively Victorian novel.
The second case is that in which the decline in prices marks a period of reaction from a previous period of price increase and a tendency to limit production costs and to proceed cautiously, but is not accompanied by much forced liquidation and is not the result of any urgent necessity to reduce bank credit.
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