The Express.
London, England, 1855-02-26 00:00:00

BILLS OF EXCHANGE BILLS.

BIRMINGHAM, SATURDAY.
Yesterday a very important meeting of banker*,
mrested, werchants,
as matoldnufacatturersthe end other pe she
on trson sffreted or in-
te Town-hall, subject of
two bills now before parliament—one introduced into
the House of Commons by Mr. Keating and Mr.
Mullioga, entitled, "A Bill to Facilitate the Remedies on
Bills of Exchange and Promissory Notes by the Prevention
of Frivolous or Fictitious Defence', to Actions Thereon
the other' which was introduced end carried through the
House of Lords by Lord Brougham, being designed " to
permit the Registration of Dishonoured Bills of Exchange
and Promissory Notes in England, and to allow Execution
thereon." The varied interests of the town were very fully
represented. Mr CHARLES SHAW, banker, merchant,
factor, and manufacturer, presided. Mr. Henry Edmunds
represented the Midland Backing Company ; Mr. T. A. Att-
wood_ (Spooner, Attwood, and Co.), Mr. Jas. Lloyd (Taylor
and Lloyd), and by proxy or otherwise all the other banks
in the town were represented; lilt. Alderman Van Wart
headed the merchants; Mr. Alderman Baldwin, and Messrs.
Cornelius Goode and Hide., the manufacturers; Mr W. J.
Beale and Mr. J. Money, solictors, concurring with the
originators of the meeting in the determination to oppose
both bills, attended in that spirit. Bend's these, Mr. Ald.
Hodgson, Mr. Arthur Ryland, Mr. Councillor Cutler, and
other gentlemen, were present, and took part in the discus-
sion.
Mr. W. J. BEALE explained the nature end provisions of
the two bilis. First, that of Lord Brougham's, io which
power was given to any holder of • dishonoured bill, after
eight days rep istration under the registrar appointed by the
Court of Common Pleas, to take summary execution unites
upon affidavit a judge could be satisfied that there were good
grounds fora &Gime. According to the provisions of the
bill, too, a record was to be provided, open to all parties, of
all bills so proclaimed. The other bill promoted by Messrs.
Keating and Mulling+ had the same object in view, but the
process was different, the ordinary forms of the law were
not to be set aside, but in cases of disputed bills security was
to be given for the payment of the bill and costs
Mr. ArtrmrsOrt, • manufacturer, was of opinion that no
objection meld be entertained to the proclamation of a
dishonoured bill; and he said that in his opinion the bill
of Messrs. Resting and Mulling. would only have the effect
of increasing expenses : for the sake of economy, he was
decidedly in favour of the Scotch law.
Tee Cnatattrar replied that his experience had shown to
him that the Scotch mode of procedure was by far the most
expensive. A creditor in this country, before any proceed-
ings could be taken in the Scotch courts against a debtor
there, must employ • deputy to act for him, and give him
security for all the costs incurred—a very expensive process,
especially in the event of • failure.
EDMUNDS, of the Midland Bank, remarked that the
question of expense was not the real matter to be con-
sidered in discussing these two bills. The question really
was the opportunity which either of these bills would give to
one creditor (possibly a pretended one) to obtain an advan-
tage over another, or a bona fide creditor. If either of
these bills passed into • law as they at present stood
a bill might he drawn at three days' date ; in six days from
that time the bill would be due, and in fourteen days' time
oce creditor would take possession of everything. In his
opinion it was unjust and wrong for the law to be the
means of enabling one creditor to obtain a preference over
another; it a man was to be broken up lot his assets go to
his creditors generally. The commercial public did not
want either of these bills; they would protect Jews and die-.
ceunten only, and were highly objectionable. To interfere
in the manner proposed would be to injure commerce;
because it would restrict commerce; especially on looking
at the immense ametuit of bills in circulation and the com-
paratively few that were dishonoured, it had been shown
that no interference or restriction was necessary. (Hear.)
Mr. BLANEY remindej the meeting that the force of •
judgment under Lord Brougham's bill would have as much
force as • judgment obtained alter • trial. In fact, it came
to this, that a judgment by confession would be incontrover-
tible; indeed, it the bill passed, it would operate to an ex-
tent and with a force and r ffect not to be obtained by any
procedure of our law in existence—that he was aware of.
Mr. SALT said the bill might fairly have been called a
bill for the speedy destruction of creditors, and for facili-
tating fronds.
Thos CHAIRMAN said that, as a banker, ho was opposed to
both bills, because they were not required. After twenty-
five years' experience, be could safely say that he had
gone into court upon bills more than six times. He agreed
anks
nweia no4fcw rawni cg h pbo been
int stockw s
thrownbsa k shameful
i
as thea
ltwayt,
disgrace•ende to theth present
ta
het thetslb:i difficultiesitut..
e
Mr All Hodgson, Mr. Ald. Baldwin, Mr. Arthur Ry-
land, Mr. Ald. Munton, and other gentlemen, afterwards
; addressed the meeting, all concurring In the objections
, which had been raised against both bills, both on the
grounds of the new machine,: which it was proposed to
' introduce end the facilities that would be Worded to
I dishonest debtors to give • preference to relatives or other
parties not bona fide creditors.
Mr. DIARTINEAU expressed his surprise that these bills
should have been introduced at sll ; none of the great towns
in the country had asked for any change; the bills appeared
to have originated with the lawyers in parliament, and al-
' though he had no desire to impute motives, it appeared to
him as if the purpose was to promote rascality and restrict
the circulation of good bills. Looking at the immense
surmount of bills circulating in the country, very few indeed
were dishonoured; there was nothing to justify any such
harsh measure as was proposed, and the commercial com•
tenuity might *stair be left to take care of itself.
After some further discussion, the following petition to
parliament was adopted :
That a bill is now pending before you honourable house, !untitled
ff A Bill to facilitate remedies on bills of exchange and promissory
notes by the preventim of frivolous and fictitious ciefenees to actions
therein."

-11 C year petitioners view with great diagatisfection and alarm the
provisions of the slid WI. by which it la proposed to confer moo
sumgmay meallise es the holders or bills of exchange and promiasory
notes. end igabedt le your honourable house that evil. would be sub-
stitutad by oath sa emestateat ot a far greater magnitude than those
witiebdis intended bkredesso. a

Tot be all reeent rehear and alterations In the commercial law el
thiscountry it has bow Um uniform policy of the legislature to en.
demur to prevest ofol poobh collodion -toad fraudulent preferences
between echoes all siodlon. awl,la Noe of the inability of • trader
to meet his
ek to helm Moot an early and to ensure an
equaldistri es jpguperg simewpt all his creditor; and espe-
tid
cially to roe/a lois ow merit osoosftio in the hands of an Moll.

ihnsigrovielont of Ult. bill an overius bill of eschange or
preinasory will have all the torso and effect of • secret security
'Tellable is eight days against the property and person of a trade.
writ, rides gift gan undue advantageto the creditor whose bill
or note hipper lobe Ant dishonoured, will sake a trader by a collo.
re arrangers* with a friendly or fluidly creditor, to procure his
property to be away, and a fraudulent preferroe to be obtained
over all Ilia saw areditan.

That the preekbee d tbs Rid bill by which endornrs sa well a.
senators and drawers dale sed setae are rendered indlsorlotactely
Mk to bane ajelyeesevesineed aSbtlien are ask property cc
gems sine sossollos lips War illisessw et a bill ar
nele Idea key wen int gelerrey a any. are alenlatad to
seam pea dbaset awl okra WM aammiel s tide
wastay. tad with
trig
le tree
rfare illeakb the ma stalk et a-
=wall rliserysei ear es =lkea et *are le wea
bme l
seineget iblit are riming, le gie man eigemelaartbe MI6
ray esuried kakis.
Malin& es eerailial eel be directly snake to the poky a
Ihe kw. mine Mom yneklene are Intreinsed by which pared.
witin tes tarkeat a illimaesred NU or sate dull be sole es
rlsse well deadbeats et ble property Nana the crelliars.
and notes lite Isellmens et nee creditor me ameba ; ad yew
polaiseseseelsolt eat as MA BPI- le prod into a law la ite pre.
wins gessew thellltlee tar the perpetratioa a fraud win be
11•11.81 Iles a pewee mkt, and greater eyes arise then any which
sms sow fitly Nom of Meeks' or vexations dames to micas es
Ws of ezebespo or pecra/sesey Mae War the MAY, kw.
That want Ile power at ea action te pia Yea nay bot
amitalsee ktvelenely and leek it le are
Napa by leaden ribs maw abbe Ow the bees& et tbir=
belly a Ink creation gala seamed Waist* line and appals.
Eby kek erre erriewly the Mae at *air sake. sal to
mak kea to sal ask meters leyeeber, ebb a view le Nem ar.
ragenteet by wadi** meeker wag way out dean pagereese
ear an Oben pedikasee senleat am the peablens
theateting law la Weyer be Ile pre
bill le alentled to
deem have sat been le be '
ea sae law km sew rime-
dim !Ida IS is oniekt enbillere ba ka ke by nig et the In.
inaliel owe estemedel me a Ilk esislity.
That ken are other tad grave olfeetkee to tbe yeastliable work.
leg of the said bill.