Under the illustration of St. John’s Gate that introduces each issue of the Gentleman’s Magazine [1], is the month and year, followed by the table of contents (each issue via the link will show an image of this – typically the last image posted). For the first time, I noticed the calligraphy that follows “CONTAINING” and precedes the article headings and their corresponding page numbers. “More in Quantity and greater Variety than any Book of the Kind and Price.” While I have nothing to compare it to, I can attest that of the thirty-seven distinct articles listed for March of 1782 [2], the subject matter ranges from Parliamentary debates to a Swiss underground road, and includes bull-baiting and the wool trade along the way. The regular coverage of weather, news from around the world, births and marriages and deaths, trials, and literary reviews is fit in around the special bits.
In particular, my interest was caught by “Usual Causes of Bankruptcy, Caution against — ” and turned to page 138 to read.
In all ages there have been men, who, by sudden losses, by entering into indiscreet obligations, by improvident conduct, or through fraudulent designs, have become, or pretended to become, incompetent to the discharges of their just debts; but the number of bankrupts which now appear in every Gazette is a subject of serious and alarming consideration.
Along with the obvious financial harm that can be caused by frivolous living and participation in gambling, the author addresses the lack of care and foresight that must be viewed as the social responsibility of every gentleman, in order to enable him to properly discharge his debts and contribute to the public funds by means of taxes. He recommends annual reflection for the purpose of seeing areas of weakness in funding, and to not allow debts to unknowingly pile up beyond the ability to repay. Then, he maintains, steps toward frugality can be made in enough time to avert distress. Finally, he offers as example the late Sir Stephen Theodore Janssen who he terms a “virtuous citizen.” He records the words of Sir Stephen, addressed to the Livery, as he deems them of value to the general population. The speech concludes in this way:
I do further declare that it is my determined resolution to continue living in the same frugal manner, till the last shilling is discharged; and in case any turn of fortune should happen to me, my whole just debts shall be discharged so much the sooner, as I am determined to persevere in preserving the character of an honest man.