The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1875-11-25
A Model Bankrupt.

The spendthrift habits and conse-
quent impecuniosity of the youthful
cions of ancient English families are so
well known in England as seldom to at
tract more than a passing notice. In
deed, certain of these worthless young
mobiles claim to have elevated the prac-
tice of buying without payment to the
dignity of fine art, and simplified its
intricacies by the application of rules
and regulations. The literature of the
noble dead-beat is quite extensive and
comprises the narrative of not few
cases in which more ingenuity and in
dustry were employed to avoid the pay
nent of debt than would have been
required honestly to earn the money for
its liquidation. In general, the young
bloods of the aristOcracy are saved from
the disgrace of open reputation by the
generosity of their friends and relatives,
but occasionally one of these Youngsters
falls into the clutches of the law. If
born in a lower station of life, any one
of them would be arrested as a common
swindler, and clapped into prison with
in the space of an hour, and even as it
is they do not escape altogether scath-
less, as a recent case showed.
Sir Simeon Stuart, Baronet, came of
very ancient lineage, his ancestors be-
ing near relatives of the Pretender, and
his family one of historic Importance
and honorable record. But the fact of
his illustrious descent and royal lineage
did not improve either the pecuniary
situation or the spendthrift dispositionof of
this blue-blooded youth, who contracted
debts to a most wonderful amount.
Among the articles of his expenditure
were thousands of pounds for jewelry,
which he acknowledged to have bestowed
on ladies other than relatives, and more
than two hundred pounds to one tailor
for clothing bought and worn out. His
numerous creditors beginning to be a
little more urgent than was pleasant, he
determined to suspend payment, and
take refuge under the bankrupt law.
He, therefore, appeared in the Bath
County Court as an insolvent debtor,
who presented himself for final examina-
ton and discharge. - .f' -g.s
In spite of his heedlessness in con-
tracing debts, he showed desire to do
the fair thing by his creditors, for he
surrendered in their behalf the whole of
his personal estate. The inventory of
the latter is a document the like of
which is seldom seen in bankrupt or
any other court. Omitting the rigidly
assessed value of each item, the list is
as follows: "One railway-rug (much
worm, one pencil-case, one lantern,
one set of onyx studs, one silver watch,
one pair of opera-glasses (out of Order),
three pairs of CATERS, fifty pin car
tridges, one gun-cleaner, one cartridge
extractor, one fishing-rod, and three
pairs of wOrsted stockings" The total
value of these precious assets was ex-
actly four pounds. 1t is affecting to no.
tice that he put in plea to be allowed
to retain the ''one set of onyx Studs"
and the zone silver watch" on the
ground that they were much priced
family souvenirs, utall the rest he was
ready to relinquish, in order that pro
rata division might be effected among
his creditors. As the latter represented
debts of about 80, 900, the share of each
one, if pro rata division were effected,
it may be readily imagined would form
no source of envy to the balance, so it
is not, on the whole, surprising to find
that they withdrew their opposition,
and the youthful BarOnet walked forth
from the courtroom absolved from his
obligations, and ready, if able, to OBJ
tain credit again, and once more to
fleece the beings of coarser clay whom
he had formerly honored with his GUS
tom. st. Louis Globe. - .-----