Cesare Beccaria

“ THE necessity of good faith in contracts, and the support of commerce, oblige the legislature to secure, for the creditors, the persons of bankrupts. It is, however, necessary to distinguish between the fraudulent and the honest bankrupt. The fraudulent bankrupt should be punished in the same manner with him who adulterates the coin; for to falsify a piece of coin, which is a pledge of the mutual obligations between citizens, is not a greater crime than to violate the obligations themselves. ”

“ Laws, dictated by the avarice of the rich, and accepted by the poor, seduced by that universal and flattering hope which makes men believe, that all unlucky accidents are the lot of others, and the most fortunate only their share. Mankind, when influenced by the first impressions, love cruel laws, although, being subject to them themselves, it is the interest of every person that they should be as mild as possible ”

“ But unhappily, the most simple, the easiest, yet the wisest laws, that wait only for the nod of the legislator, to diffuse through nations wealth, power, and felicity; laws which would be regarded by future generations with eternal gratitude, are either unknown or rejected. ”

“ But the bankrupt who, after a strict examination, has proved before proper judges, that either the fraud or losses of others, or misfortunes unavoidable by human prudence, have stript him of his substance ”