but willingly and
knowingly concealed it, or any part of it, with design to defraud his
creditors, he should be put to death as a felon: the reason and justice
of which clause was this, and it was given as the reason of it when the
act was passed in the House of Commons, namely, that the act was made
for the relief of the debtor, as well as of the creditor, and to procure
for him a deliverance on a surrender of his effects; but then it was
made also for the relief of the creditor, too, that he might have as
much of his debt secured to him as possible, and that he should not
discharge the debtor with his estate in his pocket, suffering him to run
away with his (the creditor's) money before his face.

Also it was objected, that the act, without a penalty, would be only an
act to encourage perjury, and would deliver the hard-mouthed knave that
could swear what he pleased, and ruin and reject the modest
conscientious tradesman, that was willing and ready to give up the
utmost farthing to his creditors. On this account the clause was
accepted, and the act passed, which otherwise had been thrown out.

Now, when the poor insolvent has thus surrendered his all, stript
himself entirely upon oath, and that oath taken on the penalty of death
if it be false, there seems to be a kind of justice due to the bankrupt.
He has satisfied the law, and ought to have his liberty given him _as a
prey_, as the text calls it, Jer. xxxix. 18., that he may try the world
once again, and see, if possible, to recover his disasters, and get his
bread; and it is to be spoken in honour of the justice as well as
humanity of that law for delivering bankrupts, that there are more
tradesmen recover themselves in this age upon their second endeavours,
and by setting up again after they have thus failed and been delivered,
than ever were known to do so in ten times the number of years before.

To break, or turn bankrupt, before this, was like a man being taken by
the Turks; he seldom recovered liberty to try his fortune again, but
frequently languished under the tyranny of the commissioners of
bankrupt, or in the Mint, or Friars, or rules of the Fleet, till he
wasted the whole estate, and at length his life, and so his debts were
all paid at once.

Nor was the case of the creditor much better--I mean as far as
respected his debt, for it was very seldom that any considerable
dividend was made; on the other hand, large contributions were called
for before