The state of his case, as to his debts and credits, stands as follows:—­

His debts esteemed good, as by the ledger, are L1357 8 0
His goods in the warehouse 672 12 0
---------------
L2030 0 0

His creditors demands, as by the same ledger
appears, are L3036 0 0

This amounts to fifteen shillings in the pound upon all his debts, which, if the creditors please to appoint an assignee or trustee to sell the goods, and collect the debts, he is willing to surrender wholly into their hands, hoping they will, as a favour, give him his household goods, as in the account, for his family use, and his liberty, that he may seek out for some employment to get his bread.

The account being thus clear, the books exactly agreeing, and the man appearing to have acted openly and fairly, the creditors meet, and, after a few consultations, agree to accept his proposals, and the man is a free man immediately, gets fresh credit, opens his shop again, and, doubling his vigilance and application in business, he recovers in a few years, grows rich; then, like an honest man still, he calls all his creditors together again, tells them he does not call them now to a second composition, but to tell them, that having, with God’s blessing and his own industry, gotten enough to enable him, he was resolved to pay them the remainder of his old debt; and accordingly does so, to the great joy of his creditors, to his own very great honour, and to the encouragement of all honest men to take the same measures.  It is true, this does not often happen, but there have been instances of it, and I could name several within my own knowledge.

But here comes an objection in the way, as follows:  It is true this man did very honestly, and his creditors had a great deal of reason to be satisfied with his just dealing with them; but is every man bound thus to strip himself naked?  Perhaps this man at the same time had a family to maintain, and had he no debt of justice to them, but to beg his household goods back of them for his poor family, and that as an alms?-and would he not have fared as well, if he had offered his creditors ten shillings in the pound, and took all the rest upon himself, and then he had reserved to himself sufficient to have supported himself in any new undertaking?

The answer to this is short and plain, and no debtor can be at a loss to know his way in it, for otherwise people may make difficulties where there are none; the observing the strict rules of justice and honesty will chalk out his way for him.

The man being deficient in stock, and his estate run out to a thousand pounds worse than nothing by his losses, &c, it is evident all he has left is the proper estate of his creditors, and he has no right to one shilling of it; he owes it them, it is a just debt to them, and he ought to discharge it fairly, by giving up all into their hands, or at least to offer to do so.