BANKRUPTCY: CONSIDERED AS-ONE OF THE FINE ARTS.

Observer, Volume 1, Issue 20, 29 January 1881, Page 196

BANKRUPTCY: CONSIDERED AS-ONE OF THE FINE ARTS.

The desirability of any Bankruptcy laws, and the existence 01 any such factor as misfortune in relation to Bankruptcy, may he open to argument. Biit under the existing regime it is certain that there is frequently much to be admired in those who fail. Not seldom there is agaictede cceur, a charming msoitcimice, a gentle daDiance with fortune, and oftentimes a consistency, which are truly refreshing to contemplate. But all failors more or less possess a more profitable quality in a grasp 01 our mercantile and social systems of economics, which grasp reflects credit on the penetration of the possessor. If to gaiete de cceur, insouciance, and a true appreciation of our mercantile and social systems, be added a well-affected air of sanctimoniousness there is no amount of deficit which will affect the popularity or damage the pious reputation of the fortunate saint. This to strangers, uncultured in our moral atmosJ there and enervating climate, appears — at east — idiosyncratic. But this is only attributable to their appreciation of our virtues being defective. For instance, on arrival here before thoroughly en rapport with the tone of our community the following ridiculous questions suggest themselves as society-puzzles, namely — (1.) Why to be generous without regard to being just is more appreciated than to be just before being generous ? (2.) Why to live, dress, and entertain extravagautly regardless of the rights of others is esteemed more highly than living, dressing, and entertaining within one's means ? (3.) Why the man who "shouts" at publicbouse bars should be regarded as the popular man? (4.) Why the pious man who fails — even though he fail fraudulently — is deemed only unfortunate, anil a martyr to circumstances over which ho has bad no control ; whilst he who, making no profession of religion, fails under the same circumstances is deemed, a rogue ? (5.) Why some creditors, well knowing of fraud and extravagance, sometimes deliberately prefer not only to \ condone both, but oft times to show their sympathy to the debtor by a very welcome generosity. And — (6.) Why Bankruptcy has ceased to be regarded as disgraceful ? But such Goth-like immigrants do not sufficiently appreciate our piety or realise the advantages of our scheme of morality. Let them more devoutly study their Bibles and especially that thrifty exhortation — "Take therefore no thought for the morrow, for the morrow shall take thought for the things of itself. Buflicient unto the day is the evil thereof;" and consider the inevitable bearing of our present Bankruptcy laws ; and the commercial antecedents, and probable present commercial position of a large number of the members of the community ; and the raison, d'etre, for the idiosyncracies in question will then no longer be enigmatical. For the man possessing the genial and pious qualities I have indicated Auckland possesses a rare iield for a campaign, terminating in Bankruptcy, which (campaign) shrewdly conducted, might be made to result most profitably to himself, and also profitably to his creditors. But the denouement must be artistic and unexceptionable. For instance, there need be no assets, but the liabilities must be large ; the settlements on the wife and children must not only be substantial, but legally impregnable ; aiid the demeanour of the bankrupt must be not only meek ("Blessed are the meek: for they shall inherit the earth,") and accommodating, but resigned ; willingly submitting without grumbling to a heavenly Father's will in the sense of "Not my will but thine be done." Such a failure would be not only a truly artistic performance and aesthetically in good taste, but probably extremely profitable ; and the artist need expect, not only no diminution of popularity, but probably increased admiration for his Christian resignation and virtue. To the creditors such a failure should result most profitably also, by causing them to realise — what will never be realised by creditors here except after a very sharp lesson — [a. ) That the moral atmosphere in which we live and by which we are surrounded encourages reckless and inconsiderate trading and expenditure, and permits, with impunity, fraud. (6.) That our notions of financial morality are from the bases upwards — false, unjust, and ruinous. Such teaching ought at least to result in — (1.) That a man who fails to keep his engagements with his creditors should prima facie be assumed to be a criminal, until he can prove himself otherwise. And — , (2.) That a man who has once failed, or arranged, or compounded with his creditors should under no circumstances be again trusted; because, prvmct facie, his incapacity for success is to be assumed ; and also because his sense of disgrace must inevitably be blunted. Facilk descensiis cpverni. JUNIUS.

— In a New Zealand town a clergyman and Ids family resided in close proximity to a pork butcher, and it was the custom for the clergyman's wife to send her children to share the games and amusements of the P.B.s youngsters. But it so happened that though the clergyman's wife thought it proper enough that the children should thus associate, she considered herself quite too much of the lady to take the least notice of the spouse of a killer and vendor of swine. Naturally Mrs. P.B. resented such haughty conduct — as what woman with a spice of self-respect would not ? — and began to cast around to see how she could retaliate. She was like the rest of her sex, fertile in resource ; and so the next time the parson's boys and girls came to play with hers, she promptly sent them home again with this message : " She could not allow them to mix with her children, as they were so ill-behaved, and used such bad language 1"