CHAPTER XII.

THE FRAUDULENT MERCHANT.

Perrott, of Ludgate Hill.

"Many men do nothing else than make work for repentance, and yet do nothing less than repent of their work."

SOUTH.

Ir is an article of faith held firmly by many humane and kindly-disposed people, that poverty is the grand provocative of crime, and that if there were no want there would be little dishonesty. They quote, in support of their theory, sundry wise saws and time-tried proverbs. They exclaim, that "it is hard to make an empty sack stand upright." They affirm that hunger is a teacher bound by no rules; and that want-pinching, and pressing, and perpetually present want-woefully dims a man's moral perceptions, and marvellously confuses him as to the precise relationship of meum and tuum.

But if adversity be to some minds a season of special trial, prosperity is to others no less a touchstone.

Many propensities, during a period of depression or humiliation, slumber in a man's heart which prosperity rouses into action. The natural and moral world closely assimilate. There is many a noxious weed which needs the full blaze of the sun to attain vigour and maturity. In the shade its growth would be sickly, and its duration short. So in the human heart there are unworthy aspirations and malignant tendencies, which, checked and repressed by the chilling influence of adversity, are rapidly developed and fully ripened in the sunny glow of prosperity.

This man He had to

For seven His annual

Perrott is an instance in point. had no temptation to dishonesty. complain of no want of success. years all went well with him. returns were about two thousand pounds, and we hear of no drawback and no disaster befalling him. Prosperity was his ruin. It developed the seeds of dishonesty which lay lurking in his heart. triumphed.

The TEMPTER assailed him and

The thriving man resolved to

become rich instantly, unscrupulously, without industry, at the expense of others, and by the tortuous machinery of fraud.

Such was his scheme. How did he work it out?

JOHN PERROTT was born at Newport Pagnell, Bucks, in 1723. His parents died when he was very young, leaving him, at seven years of age, in possession of about £1500. This sum served to bestow the education suited to his rank of life, and subsequently to bind him as apprentice to a relative in Hertfordshire. In his 24th year he came up to London, and commenced business as a mercer and general warehouseman in Blow-bladder Street. Thence, in 1752, he removed to Ludgate Hill, where he dealt in a variety of articles, styling himself merchant. For seven years he was remarkably punctual in his pecuniary transactions. Having thus established for himself a reputation, and finding that he could procure credit to any extent, he commenced his career of fraud by contracting for goods of various descriptions to the amount of £30,000, £25,000 of which he actually got into his possession. The next part of the scheme was to convert these goods

into ready money, and for this purpose he employed an agent, Henry Thompson, who had long acted for him as his broker.

The method of dealing was sufficiently expeditious.

Thompson resided in a small house in Monkwell Street, near Wood Street, whither the goods were sent in the dusk of the evening, and where he invited some of the principal traders to look at them, as goods consigned to him from the places where they were manufactured. Perrott always set a price upon them, which Thompson showed to his customers, who usually fixed another price at which they would buy. At this price Thompson was always ordered to sell, though it was frequently fifteen and twenty per cent. below prime cost.

When the goods were thus converted into money, and before the time at which he was to pay for them had arrived, Perrott coolly called his creditors together, and acquainted them with his inability to meet his engagements, placing himself wholly at their mercy, and promising to acquiesce in any measures which they might propose for their own security and advantage. This plausible conduct made a

most favourable impression on the parties to whom the designing man was indebted, notwithstanding the loss they were likely to suffer by him. It was therefore arranged, Perrott cordially assenting, that a commission of bankruptcy should be issued out against him. This was done, and three days appointed, the 26th of January, 4th of February, and 4th of March, for his appearance before the Commissioners to make a full disclosure of his estate and effects. On the 26th he did not come forward, but on the 4th he appeared and was sworn ; yet he declared himself then unable to make a full discovery of his real position, and requested an extension of time. The request was granted.

During this interval the assignees detected so great a deficiency in the assets, and such inexplicable confusion in the accounts, as caused them to suspect that Perrott's integrity was rather apparent than real; and it was thought advisable to expedite his examination. The bankrupt was accordingly summoned on the 26th of February, and being then hard pressed, it was extracted from him, that he had bought goods since 1758 to the amount of £20,000, the whole of which he had sold at a loss of 15 or