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An Essay Upon Projects by Daniel Defoe
page 126 of 185 (68%)
1. With submission, I question not but it would prevent a great
number of bankrupts, which now fall by divers causes. For,

(1.) It would effectually remove all crafty designed breakings, by
which many honest men are ruined. And

(2.) Of course 'twould prevent the fall of those tradesmen who are
forced to break by the knavery of such.

2. It would effectually suppress all those sanctuaries and refuges
of thieves, the Mint, Friars, Savoy, Rules, and the like; and that
these two ways:-

(1.) Honest men would have no need of it, here being a more safe,
easy, and more honourable way to get out of trouble.

(2.) Knaves should have no protection from those places, and the
Act be fortified against those places by the following clauses,
which I have on purpose reserved to this head.

Since the provision this court of inquiries makes for the ease and
deliverance of every debtor who is honest is so considerable, 'tis
most certain that no man but he who has a design to cheat his
creditors will refuse to accept of the favour; and therefore it
should be enacted,

That if any man who is a tradesman or merchant shall break or fail,
or shut up shop, or leave off trade, and shall not either pay or
secure to his creditors their full and whole debts, twenty shillings
in the pound, without abatement or deduction; or shall convey away
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