The political crisis that had placed him in power had not put an end to the financial crisis, and this, it was hoped, might be effected by substituting partial and petty bankruptcies for the general bankruptcy cyI~ically advocated by Saint-Simon.
These societies had their origin in the associations formed in the middle of the 19th century for the purpose of disseminating information regarding bankruptcies, assignments and bills of sale.
For commercial cases, not paying a bill in time, bankruptcies, &c., a kind of jurisdiction is exercised by the minister of commerce, or a board of merchants, but the decisions of the minister, or those of the board, are rarely final.
The Vienna Creditors' Association for the protection of claims in bankruptcies had in 1909- It fresh failures with liabilities of 45, 40 and 43 millions of kronen respectively.
His perfect openness, the notoriety of his bankruptcies and of the seizure of his books and furniture in execution, kept him before the world as a model of dissipation.