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ISsoLvsNcY-Why s a man obliged to pay
his debts 1t is TO be hoped that but few persons
will reply '' Because the Law compels him. -
Wny, then7 Because the moral law requires II.
Tha, this is the primary ground OF the obhgation,
j. evident; otherwise the payment of a debt which
a corrupt Legislature chose to cancel, would cease
to be obligatory upon the debtor


A man becomes insolvent, and is made bank
rupt; pays his creditors ten sbillings, instead OF
twenty, and is di enlarged. The bankrupt receives


large legacy, or eng ages in business, and acquires
property Being then able to pay the remainder
Of his debts, does the legal discharge exempt him
from the obligation to pay themf Mo- and tor
this reason,-that the legal discharge was not
moral discharge. The duty to pay was not found.
ed primarily on the law. 1t would be preposter-
GUS to say tha, creditors reinquish their claims
voluntarily. Ii mg ht as reasonably be said that
a man parts with limb voluntarily, because, hav.
ing ncurably lacera:ed 1t, he submits 10 an ampu-
taion 1t should be remembered, too, that the re
lnauishment of half the demand is occasioned b.
tho debtor himself; and 1t seems very manifest
that when man, by his own act, dePrlves another
Of his property, he cannot aiege the consequences
of that act As justification OF Withholding 1t, alter
restoration is in his power. In all cases, the rea-
scning that applies to the debt, applies, Also to
the interest that accrues upon 1t; although, with
respect 10 tUe dCCtpt vi ootL, tue Cf tUttoie
shsuld exercise conslderate discretion a man
who has failed of paying his debts, ough ght always
to live with frugaity and carefully to ecouomse
such money as he gains. He should reflect that
he is the trustee for his creditors and thar all the
needless money that he expends, is not his, bat
theirs. The loss of property which the trading
part of commercial community sustains by In
soveacv, is great enough TO constitute consider
able national evil The fraud, too that is practiSed
under cover OF insolvency is, doubtless, the most
extensive of all species OF private rubbing. The
prohigacy Of some of these cases is we'll known
to De extreme. He who is q bankrupt to day riots
in luxury to. morrow; bows TO the creditors whose
money he is spending, and exui,s in the impunity
Of his wickedness. OF such conduct we should
no, think or speak but with deses,ation. There is
wickeduess in some banklup,cles 70 which the
guilt of ordinary robbers approaches but dis
rance Happy it such wickedness could not be
pracsised with legal impunity, Happy, if public
opinion supplied the deficiency of the law, and
held the iniquisy in rghful abhorrence If such
conduct were held 10 be of the same character as
lhs,,, probabya more powerful motive TO avoid
insolvency would be established than any which
now exists. Il 1t be urged that such odium would
be TOO severe upon the insoiveht, | answer, that
the evil would De much less extensive than is ina
S'ned. The calamity being toreseen. would pre-
vent men from becoming insolvert; and il is GER
tain that the majority might have avoided insol-
vency by sufficient care.


toSmonds Essays Oh rhe Principles Of Morality.