people knew whether it was likely any thing would be made of
the debtor's effects or no, and oftentimes the creditor lost his whole
debt, contribution-money and all; so that while the debtor was kept on
the rack, as above, being held in suspense by the creditors, or by the
commissioners, or both, he spent the creditor's effects, and subsisted
at their expense, till, the estate being wasted, the loss fell heavy on
every side, and generally most on those who were least able to bear it.

By the present state of things, this evil is indeed altered, and the
ruin of the creditor's effects is better prevented; the bankrupt can no
more skulk behind the door of the Mint and Rules, and prevent the
commissioners' inspection; he must come forth, be examined, give in an
account, and surrender himself and effects too, or fly his country, and
be seen here no more; and if he does come in, he must give a full
account upon oath, on the penalty of his neck.

When the effects are thus surrendered, the commissioners' proceedings
are short and summary. The assignees are obliged to make dividends, and
not detain the estate in their own hands, as was the case in former
days, till sometimes they became bankrupts themselves, so that the
creditors are sure now what is put into the hands of the assignees,
shall in due time, and without the usual delay, be fairly divided. On
the other hand, the poor debtor having honestly discharged his part, and
no objection lying against the sincerity of the discovery, has a
certificate granted him, which being allowed by the Lord Chancellor, he
is a clear man, and may begin the world again, as I have said above.

The creditor, being thus satisfied that the debtor has been faithful,
does not answer the end of the act of Parliament, if he declines to
assent to the debtor's certificate; nor can any creditor decline it, but
on principles which no man cares to own--namely, that of malice, and the
highest resentment, which are things a Christian tradesman will not
easily act upon.

But I come now to the other part of the case; and this is supposing a
debtor fails, and the creditors do not think fit to take out a
commission of bankrupt against him, as sometimes is the case, at least,
where they see the offers of the debtor are any thing reasonable: my
advice in such case is (and I speak it from long experience in such
things), that they should always accept the first reasonable proposal of
the debtor; and I am not