The Express.
London, England, 1855-06-30 00:00:00

nest ?" (Hear, bear.) The Fresh kw of portsentlip
Ise set a noes se, it had been ha ezistosit he sally
pit wan, end was re-esected in the Code Nqiiiiis Its
se law was generally acted tips. It was ma ISM 1111
sere familiar with Fresco, that this Pegtholgi Will el
partner,hip was very largely called Ste esswee. An
puteerships le Franco were registered ; sad she hit Asia'
swum (let 1862) slowed that of amass pertmeships, known
as coollectifs, eider the same of • ism, there wise 2,16 t ;
of emmisseisilite partserships 462, cre wastlity else II per
sat. of the whole. That was a essehais see, ea
as gcssieses else limy yes% BSI these esSageil lw alis•
trim this
sees la Frame food the boanentlB he hew&
ticular elms of partnenbis IS Almeria they had
apardopted the same law. It was resigked by Obaseelhor
Zest, the great American burrs is his sieumats-
-114814 ea a curios thing, that this was the only butanes la
whisk the legislature of New York bad departed in any
material deers from the Espish law ;b ut is this particular
se of limited liability is partsenbip they had dose so.
This law bad bees is operation for the last 30 years. Is
2thisechasett else, es of the moat sucesesfel end scaperes
of the states, they bad • similar law, what they called
cis of spesial parthenkip, differing in i.eS weassativsly
thunaterial respects from the Fresh law, but sob
steatially heeded epos it, and operating is the
same way. The testimony with regard to the
gavoseble operation of the law is the Licata States se
'pally strong sad clear as with tepid
Oa that of Frays.
Os et the priacipal merchants and Sisson of New
leek. Yr. Misters, said that sorb partnerships commanded
es as* "wait and gnus! °cadgers as ordinary partner-
ft...
.td perhaps more ; far the commasity a
reference to
with reference the capital dwit ="siAll
ye Wsitee with refuses to ecentriss shore this law
wee is operation was, almost without onseplies, said-
Ss* is eta Wow. (Bear, bear.) These see bat one
veils es the subject—that it %PM ea shostip Ile the par-
tite essesrsad, cad bad sot hos chests WS IN. to the
pails. Bering slows that hedge efrperksse was so
reijr 100 favour of some law el Vie Med, le wee fably
t aissoll that it wee set is sinews-
Ws proposal. to Wroclaw, s Was cheap in
the commercial law of this esostry. The bill
spas partnership was • very sheet ems It pro-
ps& to meet the olieellies to the gessiet law upon the
siablest by providing *et where poems bed lest sissy to
ohms es esaities if sentries a ins vials
_riesling to
w esewast et peak er Is ass el or fa le asy
kilereet kr sr es assess{ el tatshies that that Ins should
Mt ethesif essititute as Isaac • panes The asp
"blob be seepeeed geoid she the law of ash
it tbe kw et miiismale bs Trask and el=
is Pram 19st NI ellseies wee meet that
alibi algid new be last to any ea thee eatesewe at •
fast sate of basest But be &mid that the lees
of messy at • and rate of istioist sr spirals* te
what would take piss gas a kw of limited Bs
bitty. Is the *0 ghee, the leas; If • pasdeut
would set Ithe to hind bh mese, at •
high axed rate ei Mem' Is
swot
DM Peek the
borrower, if a psalm* mos issid st itiphts to pay a
thigh fixed rate of lases& Ist it Ina sieshie. mg now
legal, for a leader to drive the bird so& Asti bowls of
eta
ay • large ens of lessey sad tor the benewer le write
te pay a high lead mit of interest, whether mosey was ,
=is by the skiwtsideg foe which it was heorowed or not.
It sus the peedhility NM legality of melt s Mate of Magi
wilds sailed he
some ask altered= of *9 kw es he sew
. The =mkt verged tbe weary hiese, •
=ill the law el beams almost a mats of
.He that this sheep bathe law email be
I42ve of great alai adveateges to the matey. Limited
ty took its she in these y Italian states, whom the
ssegiaise, istrNies
_agege thesimivse is trade,
save their row to the Mild SI gist, is the oisillion
of Serbs the seellis Is balm& ass hi the wen of a
Itrie line the Nast et tids sheep is *0 kw wail be la
Inane the vow/ of the weastey to len& Ade sogegaLtbsisi
Tyke the pewee of asherlikst is Itsdh Be
MS Ibii Ismael semi nib hew el way
aegiallin the
desk tide ellikate egos el w'esee of the
sbeimil kr Jesiiwee rams. Li most, there was
• gulf basso tho gosh" dem es& the IN elm ; god
Bebe shop la the imam septet& bed the sleet of as
Main sash of their ens as were allowed thereto in
Boling imam it sold be productive d onsiderable
sold awnings (Bow, hes) Be sew same to the
tweelles ef jetebetesit esopesise. As he bad aid. there
veto is hh ephiss. hero than • thebuleal distisetion be.
twoosjels6slsibeempaiii• ad private orispealas. It was
this, that is the *AIR the pus& body of shareholders
lad little or so wise ktbe mesdatt of the cowers 'zest at
the general maths% sad wire Wend by the sets of their
&treetop. In a piste parlous*, ea the satrary, the
bead of union was one of meted ad peressel trust sod
emadonee. This was so swift the ebereelerissle of •
private partnership, that the peeisesidp wee dintieed es
Me of the peados write Is be a postaar in by bawl/ft
= or lie say stoat seem That onstileloil a gab.
differing* betweas the two clause of pegkeembips.
Ma besides that, Joint stock sissies were mSdeil IS
Isis the replan@ of a statute. The MOWS behimilbe
Isms exempted buks and imams sosimniss Alts
1111111wd to banks, it was obvious Oben woe weed
games for not Saabs this ia the opetaiss
a the bill. They were regulated under • 111 h.
sets state ; they was Mated as a different hada
Zhvorhether rightly eft ens. thy wore by Wee
is • different UghL The ease why iowassiese SOW
peeks wars essespwit ham the bill we that they did set
Lermay dim of the kind, they iimitisg their liability
essuat elms fend of the areligke. (Hear.) Bat
moths lemon was, thetas emnmitgeo of the Moos moots&
BS the Wises of amas-s ostipmiles mos of • differing
bled hes that et ether kapok% and esgbd le be hill
Ida by s monk ash than the set hr lbe iegeklies
a=ellik essipmieb One were 914 eseapaeles with
up to Marsh, 1865. Theme
yes reseurtlirkerLitireet 20 per act of gneiss
se knee Is widows Of these 91 these were 191 i is.
sunisse =speak% 18 railway wits BM fa OW
saes, 99 mining sempasisead sonsposlin.
aaamile
NB skipping
_amnia, 6B impoolot he piing
II lend, ill holies, asspesiee. as The seek
eif swine teshlesties was that thei=ny aWeep.
salowl& we end be seed is their OM
was Habig to the toll stoat of the gesent2rsisgs
Lents, ea isentesed to be liable ter One yam sews ilk
wrapawy sawed to exist. This law was the salket ef ash
ateaplaint, sad justly se, in his apish& It was laid that
it we isjarious to the eciapasies se dirmed ; that It pre.
WSW hes of precise.* bets esibeftig is thus, wldht
mike, sad thoughtless sies—sieseibelnd se he
like( wise had neither mime Mit
WA rim. It was she add that by thlitlifiars:
phinstios sass' the act thigessepedin Salsa a
ad whir reedit with the pablis (Hoeg, hew.) The
lboadatioa of credit to jeisbeteek toompealis ought to be,
pnerolly weas& the APO his whit& they isMed, and the
se& is whisk they ass&selel lbsir Wises (Hess.)
DS if the attenties el lit phi. wag &Isla his what
ties lb* tee isiesslissel wait to what woe • hiss is
lholles el walk the Maoist of the public was flashy
gad was titiptell le give this as =kir mil us•
Lit esegest . el mak. (Bew) Bat Ibis wee wadi the
fleshier tithe est. 111 penested giber empeolee hem
Mies armed. The Manes ea this point wee sessieske.
be wed/ sorely quote that el Its. BibsB peat is the
deed few limited liability, that ies aro frequently
isoutitstod is Paris and the United Mats is order that
they mg Wink the severity whisk Is 116 respect the laws
if the euesides afford. Who this eameaniee are
heed is Path they pay • heavy daty to Ow Preach go-
veramist. The hey assessed ups use eispeey of gobIS
my lee were as selitipoisemesated le_ .710/ Is that
Weak we made • goes with the Treads govern-
sat by whisk ea asa son we illiii brined; but we
should have paid the larger ma whilst limitation as the
money et the law of parlaseeldp 41 comnasidite,
thriell".posrusest ka made is aSs pis nom. Besides
Ws deft upset die aspltal. there gee eselllna duties paid
to the lasepagewsuest es the Ispertatka of shares
to be siesped k Park stamp dabs ea the ode weials
was* alift Ms esupsay, the hire of Mises is Frans,
mail the Wiry of a gaunt there, elm Pees a power
of altoreity so see some se is Beglind, es& himself does
scabby but live in the 01113411 and vendee hay somas
Smiths from the goverissest. All this meow is k-
eened simply to get the Seat of the Punish law of
Waited liability, and it assoaata generally le Mg& or 60W.
•yoart I have reason to believe that as 7 is•
passe lectured in Paris to obtain the hiselkilliorathi: law
emosted to serly 4,000 i. lam within the math to sa
big that during the last two pars at Wet SO ousgwaiie
have bees formed in Frame solely for the simemcosee.
They are aria truth English companies both sea sad
dingoes sad all this expenditure is just es is sissy
• ham hes this genatry and paid to Fames as • osseido-
Mims hew IN ether laws. If the peseest esesdraies
doe sot lead to is demotes is the kw, the gespasies
termed is Freese GM wßaited States w• blase sue
aseseroes, sad area hasepaike the whole—et NM seise
the : slat Sleek Illapheselks Aat be eery
altered. Thew sea mow wsiout=es.stiwaiting"..=
eke before they &side en thiEr I lave two
to lay ow* afire at the pressed meant ter woek-
lag patents is England, which will be made Fes&
sespearies if the English law remiss saaltered."
Nati* Gould be more soselsive this this. (Hear.) You
sever could provost capital fns embarking is
those undertakings which were adetatageous to it.
It was quite clear that all those MS stock Sake
desired limited liability. The advaships was admitted
every day they sat in that house, boost, they peseta
Ike privilege of limited liability to melt eseapesiee—
railway, doek, easid, star pry ad a Twisty of efts
ampoule& We Welded a 4
sississis of the slap to
sesponim, decided they wore hew Wilk bee" ad
the amen ef SS under tak ia g es& as she hi anis&
es brioche's eispay. For his as be ha a
pod deal ads with the pleats Wilms lithe bems—be
wall aeon see us, Wiagible ptiseipk es wheel they
rested this whew to onesad retold it to
another. (Rear, bear) They It, for insleses, to '
• Blete=i was
mengas his goal,
bat le l'ilee's Palest Coale Osispony
--• =y yeessmtag a lase astral—width mesh&
teed histplot ell. (Rear, heal.) What easlas-
ilaidlillsoce amid be drawn between tint two ? (Bas,
1116 Ills 611141% the skit thh_ Muller legi use&
demoist es the of sr esdhasu og was and
trisse is thel beset wad lin aims et sumilleis is the
Gal, I Sea V tb47 sum 10 la
ii.uheyessiftessid luvistratre• sizes efillaill.ll.ll4lklited bilahnialmall
Wear. hem) . Ihat sbeL Based ssisg Llibilmal el
PM", sok, lihM goesaided the " Lathan riallabaSent As,t"
et peatiag shatters sands; the privilep of limited