InEnglandandinsomeothercountries，onedeclaresoneselfbankruptinthegazettes。Thepartnersandcreditorsgathertogetherbyvirtueofthisannouncementwhichisreadinthecoffee-houses，andtheycometoanarrangementasbesttheycan。
Asamongthebankruptciestherearefrequentlyfraudulentcases，ithasbeennecessarytopunishthem。Iftheyaretakentocourttheyareeverywhereregardedastheft，andtheguiltyarecondemnedtoignominiouspenalties。
ItisnottruethatinFrancethedeathpenaltywasdecreedagainstbankruptswithoutdistinction。Simplefailuresinvolvednopenalty。fraudulentbankruptssufferedthepenaltyofdeathinthestatesofOrleans，underCharlesIX。，andinthestatesofBloisin1576，buttheseedicts，renewedbyHenryIV。，weremerelycomminatory。
Itistoodifficulttoprovethatamanhasdishonouredhimselfonpurpose，andhasvoluntarilycededallhisgoodstohiscreditorsinordertocheatthem。Whentherehasbeenadoubt，onehasbeencontentwithputtingtheunfortunatemaninthepillory，orwithsendinghimtothegalleys，althoughordinarilyabankermakesapoorconvict。
BankruptswereveryfavourablytreatedinthelastyearofLouisXIV。’sreign，andduringtheRegency。Thesadstatetowhichtheinteriorofthekingdomwasreduced，themultitudeofmerchantswhocouldnotorwouldnotpay，thequantityofunsoldorunsellableeffects，thefearofinterruptingallcommerce，obligedthegovernmentin1715，1716，1718，1721，1722，and1726tosuspendallproceedingsagainstallthosewhowereinastateofinsolvency。Thediscussionsoftheseactionswerereferredtothejudge-consuls。