Pagina 814 di 2651

This expedient was no other than the well known shift of drawing

and redrawing; the shift to which unfortunate traders have

sometimes recourse, when they are upon the brink of bankruptcy.

The practice of raising money in this manner had been long known

in England; and, during the course of the late war, when the high

profits of trade afforded a great temptation to over-trading, is

said to have been carried on to a very great extent. From England

it was brought into Scotland, where, in proportion to the very

limited commerce, and to the very moderate capital of the

country, it was soon carried on to a much greater extent than it

ever had been in England.