35^ THE BEE, OR March 2, 



regulated by that calculation. It therefore tends great- 

 ly to encourage fraudulent bankruptcies. 



By the regulation here propofed, creditors in general 

 will not be in a worfe fituation than they are at'prefent; 

 for thofe who never intend to look after the debtor from 

 the time they receive the lafl dividend of the bankrupt's 

 cfFefts, will be precifely in the fame fituation as they 

 are in at prefent. But thofe whofe circumftances mak© 

 fuch forbearance extremely inconvenient for them, will 

 be in a much better fituation than they are, as the law 

 now {lands. They well know, that if the debtor has 

 not afted fairly by his creditors, a few years will dif- 

 cover that he is able to live in affluence ; and as they 

 will then, efpecially if their debts be fmall, by a ftridl 

 attention to his condudl, be able, by difirefs, to reco- 

 ver payment, they will be difpofed not to grant a dif- 

 charge till they fee very good reafons for their doing 

 fo. A fraudulent debtor, in thefe circumftances, would 

 find himfelf fo narrowly wntched by his individual cre- 

 ditors, that liis fituation would never be an agreeable 

 one ; fo that mankind would have little inducement 

 voluntarily to put themfelves into that fituation. 



Should it be faid that creditors who live in the neigh- 

 bourhood of the debtor would thus have an advantage 

 over thofe at a dillance — this is admitted : But ftill 

 thofe at a diftance are no worfe than they are at 

 prefent. They would even "be better : For if it fliould 

 appear that there was a chance of recovering any thing 

 confiderable of their claim, tliey would always find 

 fome perfon who would purchafe the debt at a reafon- 

 able price. 



By admitting a new bankruptcy to take place, where 

 new debts had been contracted, and allow'ing the former 

 creditors to rank equally, while the debtor's efFecls in 

 the mean time were always liable to be carried oft' by 

 the old creditors, bankrupts would, find it more diffi- 

 cult to obtain credit than they now do, which would 

 operate as an additional bar to the 'pradlice of fraudu- 

 lent bankruptcies, and as a caution to avoid bankrupt- 



