in one single bottom, and uninsured, as that the loss of it would be his
undoing?

But there are other cases, however, which may happen to a tradesman, and
by which he may be at once reduced below his proper stock, and have
nothing left to trade on but his credit, that is to say, the estates of
his creditors. In such a case, I question whether it can be honest for
any man to continue trading; for, first, it is making his creditors run
an unjust hazard, without their consent; indeed, if he discovers his
condition to one or two of them, who are men of capital stocks, and will
support him, they giving him leave to pay others off, and go on at their
risks, that alters the case; or if he has a ready money trade, that will
apparently raise him again, and he runs no more hazards, but is sure he
shall at least run out no farther; in these two cases, and I do not know
another, he may with honesty continue.

On the contrary, when he sees himself evidently running out, and
declining, and has only a shift here and a shift there, to lay hold on,
as sinking men generally do; and knows, that unless something
extraordinary happen, which, perhaps, also is not probable, he must
fall, for such a man to go on, and trade in the ordinary way,
notwithstanding losses, and hazards--in such a case, I affirm, he cannot
act the honest man, he cannot go on with justice to his creditors, or
his family; he ought to call his creditors together, lay his
circumstances honestly before them, and pay as far as it will go. If his
creditors will do any thing generously for him, to enable him to go on
again, well and good, but he cannot honestly oblige them to run the risk
of his unfortunate progress, and to venture their estates on his bottom,
after his bottom is really nothing at all but their money.