application of the sponge

noun

Roget 808: nonpayment; default, defalcation; protest, repudiation; application of the sponge^†; whitewashing.    insolvency, bankruptcy, failure; insufficiency etc. 640; run upon a bank; overdrawn account.    waste paper bonds; dishonored bills, protested bills; bogus check, bogus cheque, rubber check.    bankrupt, insolvent, debtor, lame duck, man of straw, welsher, stag, defaulter, levanter^†.    ... show more

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