The Feilding Star. Published Daily. FRIDAY, SEPT. 29, 1893. BANKRUPTCY AS A PROFESSION.

Feilding Star, Volume XV, Issue 78, 29 September 1893, Page 2

The Feilding Star. Published Daily. FRIDAY, SEPT. 29, 1893. BANKRUPTCY AS A PROFESSION.

The Christchurch Truth has published an article entitled " Bankruptcy, considered as a genteel occupation and a liberal profession." It is good. We make the following extracts for tho benefit of our readers. He gives a few useful hints to those youths and young men -who may be seized with the laudable desire to become professional bankrupts : — " Though the past masters in bankruptcy begin operations with nothing, and often deeply in debt, the neophyte would be wise, save under exceptional circumstances, to begin with a trifling capital. He will of course borrow it from some simple relation or friend. After having selected his business — the faintest acquaintance of the details of which is absolutely unnecessary — the intending bankrupt should open a shop or office. He may or may not pay the rent for a time, because the landlord is the curly-haired darling of the law. Advertising is indispensihle. It begets confidence and there is no need to pay the newspapers. Now get all you can from everybody. If you owe a man £o, and think he will trust you £100, pay him the £.*> by all manner of means, if you have to borrow it first. That well-expended sprat will catch a mackerel. Sell your goods for what they will fetch and bank the money in your wife's name, or bury it. Live well. Stint yourself of nothing. Let your wife buy good substantial jewelery ; but don't let her wear it until you receive your certificate. When your credit is utterly expended — file. The Official Assignee will do the rest — not l consciously, not wilfully, with no | intention of being unfair to your creditors, but simply because he is a philosopher on full pay who knows that our bankruptcy laws are exquisite comedies so arranged as to entail the greatest amount of convenience upon the shrewd and unscrupulous debtor, and to throw the greatest possible amount of ridicule upon the creditors who, under these laws, have not the slightest real power, but many very real and formidable risks. Our bankruptcy laws were made for debtors, remember, and the Official Assignee, and everyone else engaged in their administration know it ! Then at the meeting : "If creditors rage and furiously imagine a vain thing, if they are impertinent, let the bankrupt weep. If they continue their vulgar annoyance let him weep some more — weep copiously. If they become excessively impudent, let the bankrupt immediately appeal to the O.A. for protection. Let him offer nothing definite. If asked about his books, let him again indulge in tears, exhibit confusion verging upon dementia, bemoan his " misfortunes," and finally threaten suicide. The Assignee will then inteifero for his protection. After the discharge has been granted, all the bankrupt need now do is to lie low — he will be accustomed to lying — for a few weeks Then he may commence to take a little' innocent relaxation at the theatres or elsewhere. Of course his duty to himself and to society will urge him to recommence financial operations at the first practicable moment. Assisted by his first experience he should be enabled to conduct future similar transactions on a larger aud more generous scale. If our few and necessarily rather sketchy remarks should prove of utility to intouding bankrupts we shall not havo written in vain.