What does "failing circumstances" mean? bankrupt?

and Wall-street thinks it easy for a millionaire to be a man of his word, a man of honor, but, that, in failing circumstances, no man can be relied on to keep his integrity.
From Emerson's Wealth

?2013-05-17T11:40:45Z

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when man has lost his control over his situation =failing circumstances=He will not be able to keep up his commitments