Residing, however, with his aunt, who, rendered destitute by her father's bankruptcy, but unwilling to live a life of dependence, had opened a boarding ' The celebrated William Law had been for some time the private tutor of this Edward Gibbon, who is supposed to have been the original of the rather clever sketch of " Flatus in the Serious Call.
Meanwhile in Turkey national bankruptcy was brought within measurable distance by the sultan's extravagance and the incompetence of his ministers; it was staved off only by loans contracted almost annually to pay the interest on their predecessors.
Savings banks and seamen's money orders are also among the accounts and payments with which it is charged, and outside these marine matters it has to prepare for parliament the life insurance companies' accounts and to take charge of the bankruptcy estate accounts.
In France, Madame de Pompadour was their enemy because they had refused her absolution while she remained the king's mistress; but the immediate cause of their ruin was the bankruptcy of Father Lavalette, the Jesuit superior in Martinique, a daring speculator, who failed, after trading for some years, for 2,400,000 francs and brought ruin upon some French commercial houses of note.
The "Clergy Reserves" were secularized in 1854, and in 1851 began a railway development, the excitement and extravagance caused by which led in 1857 to a financial crisis and the bankruptcy of various municipalities, but which on the whole produced great and lasting benefit.