Sir Walter objects to the idea of cutting back on journeys, trips to London, horses, servants, what is served at their table, etc. as a means of retrenching. Elizabeth's plan is to bring no present to Anne from town, stop giving to charity, and not refurnish one of the rooms.
I think we are meant to laugh at this, but seriously, what options were open to people who got seriously in debt at that time? Would there be something like a line of credit? Would they just not pay their bills and ignore requests to do so? Ultimately, could someone come and take their things away from them if it went on and on?
What would be likely to happen to the Kellynch servants (in their orange livery) when they rented the place out left for Bath? Would they be unemployed? Presumably the Crofts would not have use for so many servants?
Did it cost extra to keep liveried servants?