Show NO REFUGE IN BANKRUPTCY In Olden Times Severe Penalties Were Meted Out to Men Unable to Pay Their Debts A A. curious custom was prevalent In France during the sixteenth anc and seventeenth seventeenth seventeenth sev- sev sev sev- centuries Anyone who fou found d It t necessary to liquidate his affairs 1 was obliged to w wear wear ar n a green green cap cap cap-a. a humility to himself and anda a warning to others Those who made a a. hobby of getting rid of their indebtedness by way of f the bankruptcy court should at all costs steer stee clear of China B Bankruptcies Bankruptcies Bank Bank- I are aEe are almost unknown in that country as they entail immediate ex ex- v A similar drastic punishment us used d to be be meted out ut to delinquent in Japan I I I ITo s To come nearer home one need only go ba back k to a little before the Act of Union to finch fin that debtors in Scotland Scotland Scot Scot- land were obliged to wear garments of diverse colors a a. suit sui t of gray and yellow Jellow being th the most com common on In Slam a man unable to meet his liabilities was put In chains and compelled compelled com corn to work as a slave for his cred cred- Should he escape his wife children chil chil- children dren dreu father tather or other relative were seized In to his hla stead stend i I At one time bankrupts bankrupt were consid- consid considered I er ered d criminal offenders even in En Eng nl land tand As a matter of fact certain cases of fraudulent bankruptcy have Incurred the death penalty in this thie country Any concealment of pf books or the secreting of property by a debtor was so punished Under this law a man called John Perrot was WIlS hanged in 1701 London 1761 London Tit Tit Bits Bits |