The Express.
London, England, 1867-07-08 00:00:00

BIL/TAIMIC

TAN EI'VNT•,,I, JACK 07E11 NTRIC\Torto THE RACE 1•0 U RAE,
A N H I'll K 111.1• K RIBHON 1W THE TCR IL Ihtekstone ;
Yr. and Mr.. I.l.llaSie : the Champion Skaters 44 Knahasl —And
MOONLIGHT JACK. Mr. J. It Moire lc Miss I. Coreney.

HIGH WATER AT LONDON MIDGE.

wry DA —AFtei;;;Z: 7h.
ro-MohlioW—Morning. 76 Ittish.......A.fternoes, tiih am.

LONDON, MONDAY, JULY 8.

every now and then have to be taken from the
safe to have payment of Is. or Is. Gd. marked
upon them. It renews the memory of a loss which
would willingly be forgotten.
For this reason it is generally considered de-
sirable to avoid all interference in legal proceedings
as far as practicable. There are two sides, how-
ever, to this question. If it is thought
expedient to wind up an estate without reference
to the law courts--and that is the view nine times
out of ten—private inspectors alone are required.
I'ractically the management rests with the ac-
countuits and solicitors, and, as a rule, this ar-
rangement has been found to work well, although,
as we have observed, the creditors but seldom re-
ceive anything like the dividend shown in the
first statement of affairs. In flagrant cases,
where insolvent estates are taken into court, the
court officials should alone be empowered to
deal with them. First of all they are re-
sponsible to the judge as well as to the cre-
ditors, and are bound to disclose the whole facts
of the case without reserve. These would often
be slurred over even if it should not happen that
the creditors' assignee had been appointed by in-
trigue or favour. Secondly, an official assignee
would have time to look into a case. He would
act much as the QUEEN'S Proctor does in doubt-
ful Divorce suits. It is a great gain to shut
out collusion and fraud, and these offences
have never been more practised and less punished
than in the Bankruptcy Court.
Finally, wo would urge that Bankruptcy cases
should, when necessary, be brought within the
criminal code. A little has been done in
this direction, but unhappily a very little.
A dishonest trader may rob his creditors
to almost any amount, but as long as he
abstains from false pretences, and in particular
keeps his books in perfect order, he escapes with
a few months' or a year's suspension of his certi-
ficate, with protection. His punishment is abut-
, lutely nothing at all. It is a crying evil in our
law that a half-starved pickpocket stealing a watch
is sentenced to six months' hard labour, while the
eminent tradesman who gets into debt for 20,000/.
without the hope of payment is at most condemned
to wait for six months before being legally released
front the whole of his liabilities.

IT seems a strange contradiction that precisely
in practical matters the moat practical nation in
the world chiefly fails. Englishmen pride them-
selves upon their commercial aptitude, knowledge
of business, and so forth. The mercantile classes
especially are fond of drawing comparisons be-
tween the smooth working of their own offices and
the lumbering routine of Government dCpart-
ments. Even to this day it is remembered with
regret that the offer of a private person to victual
our army in the Crimean war by contract
instead of through a public commissariat
was rejected. At that time, however, the
reputation of our public officials had sunk to its
lowest ebb. Everything with them seemed to go
wrong. The obvious remedy appeared to be
to supplement their erroneous action by the
commercial system, which was assumed to be
working well. It was universally said that
if men of business had had a greater share in the
management of the country's affairs, most, if not
all, of the scandals in the Crimean war would
have been avoided. Pritad Jane this seemed •
good argument. But let us see how far commer-
cial legislation has been well conducted. Taking
one of the first points, the antagonism
of opinion upon the Currency question is so great
that it appears almost hopeless to expect that a
settlement will be arrived at. The very seine
persons who in times of difficulty urge the abro-
gation of the existing system, change their views
the moment that the danger has passed. Again,
the inconveniences of the Patent Law have for
years been felt, but no one is found competent to
devise a corrective. The last crying evil, that of
Railway legislation, is likewise beyond the power of
either House of Parliament to deal with. Remedy
after remedy has been proposed, to be only in
turn rejected. Lastly, the Bankruptcy Law has
turned up again, and another attempt is made in
the present session to settle a measure of consi-
derable if not paramount value to the trading com-
munity. A new bill has peened the most impor-
tant stages in the House of Commons, and it may
be hoped will go up to the Lords forthwith.
Looking at the provisions of this last Act, it
may be hoped that it is an improvement upon
its predecessors. By some strange perversity all
our recent laws on this point, while getting rid
of established abuses, have contrived to import or
create others of their own. An outside observer
would be astonished at this fact, considering that
among the members of the House of
Commons, merchants, bankers, manufacturers,
and lawyers form an exceedingly large body
of men who must from their position have a
perfect knowledge of the subject either in actual
experience or from professional practice. It is
almost impossible to suggest a question which
would be more within the scope of our Parliament.
In addition, also, to the peculiar qualifications of
the House of Commons to legislate on Bankruptcy,
there are in the Lords many practised judges who
would readily discover defects of detail, or ought
to do so, and to effect improvements. Notwith-
standing all these advantages our Bankruptcy Law
is eminently unsatisfactory. Perhaps this arises
from au excess of knowledge. Where many per-
sons are competent to form an opinion, and
opinions constantly differ, the result may be hire
nor to that which is seen where comparatively
few have to decide. Compromises are sure to be
effected, which as often as not exclude the good
and retain the bad.

OUR CONTEMPORARIES.
(THIS DAY.)

In caste; of mercantile failure the great point to
be considered is the interest of the creditors, and
as a consequence the best plan for getting the
highest dividend out of the estate. Next, it is very
well understood that directly an insolvent firm is
placed in the Bankruptcy Court the chances are that
with law costs and other expenses the creditors
will get only Ss. in the pound, where they might
otherwis•. have received 10s. Again, there is the
almost iaerminable delay. Nothing is more dis-
tasteful to a merchant than to have a bad or
doubtful debt kept on his books. To use the
ordinary term, he likes to " make his loss," and
have done with it. Hence in ninety-nine cues
out of a hundred he is only too ready to accept a
compn 111 l im..—a!though inadequate—if the pay-
ment is .peedy and secured. A certain Sa. down
is better than a problematical 10a. in future in-
stalments with interest. This feeling is so general
that at meetings of creditors an accountant will
show aasets nearly equal to the amount of the
debts, subject to realization (and in all these
cases the lowest possible value is said to be placed
upon them), but somehow, possibly from previous
experience, the immediate payment of a con-
sidentl.ly smaller sum is usually preferred.'
Bometistie.,, it is true, but very rarely, the
value of an insolvent estate comes up to the
estimate. The great object, as a rule, is to'
get quit of the whole affair. It is very disagree-
able to hold a parcel of dishonoured bills, which

THE EXPRESS, MONDAY EVENING, JULY 8, 1867.

incumbent on the government to rescind the decision at
which the commissioners arrived out of semplaisanr.e to
their colleague ; if not, the ',abbe will ask speedily whether
its own interest, on a truly momentous question, is to be
sacrificed to the morbid sensibility of John Arthur Roe-
buck.

Is it possible, asks the Star, that the chief actor in this
ridiculous affair was once a politician of high promise, of
intellect, and of manliness! Apparently, then, there is a
sort of self-conceit as fatal to manly character and mind ea
the dry-rot to the substance it assails. If the commission-
ers mean to act on this precedent, there can be no delegate
of the working men present at all ; for surely Mr. Roebuck
must know very well what intelligent working men as a
rule think of his recent political performances. It is
asking too much of the artisan bodies to expect them to
have any confidence whatever in the proceedings of a com-
mission the majority of whom have allowed so one•sided,
unfair, and unmanly a proceeding.

Eta Court.

WINDSOR CASTLE, JULY G.

The Queen, accompanied by Prince Leopold and
Prince,' Beatrice, drove in the grounds yuderday after-
noon.

The Queen of Prussia went to London yesterday. Her
Majesty drove from Paddington in a carriage and four to
Chiswick, accompanied by Prince Edward of Saxe Weimar,
and attended by the Marchioness of Ely, and visited the
Dowager Duchess of Sutherland.
Her Majesty afterwards honoured Lady Holland with a
visit at Holland-house, and from thence drove through
Hyde-park to Paddington, and returned to Windsor Castle
shortly after S o'clock.
Princess Louise, attended by the Hon. Mrs. Wellesley
and Colonel the Hon. A. Hardinge, went to London yes-
terday afternoon, and visited the Princess of Wales at
Marlborough-house. Her royal highness returned to
Windsor Castle in the evening.
The Queen, Princess Louise, Prince Leopold, and
Princess Beatrice, went out in the grounds this morning.
Prince and Princess Louis of Hesse, attended by
Baroness Schenck and Captain Von Wtaterweller, arrived
at the Castle this afternoon from Marlborough-house.
The Dean of Windsor had the honour of dining with the
Queen sad the royal family yesterday.
The Dean of Westminster and Lady Augusta Stanley
have arrived at the Castle.

lady Frances BaiHie has also arrived.
JULY 7.
The Queen, accompanied by Princess Louise, drove in
the grounds yesterday afternoon.
The Queen of Prussia went to London yesterday.
Her Majestyhonoured Miss Nightingale with a visit, and
also honoured Baron Marochetti with a visit to his studio.
From thence her Majesty drove to the Prussian embassy,
and afterwards visited the Princess of \Vales ►t Marl-
borough-6 MU!, and then returned to Windsor Castle.
The Queen, the Queen of Prussia, Prince and Princess
Louis of Hew, Princess Louise, and Prince Leopold, and
the Ladies and Gentlemen in Waiting, attended divine
service in the private chapel this morning.
The Very Rev. the Dean of Canterbury preached the
sermon.

The Right Hon. the Chancellor of the Exchequer and
Mr. Helps arrived at the Castle yesterday.
The Chancellor of the Exchequer, the Dean of West-
minster and Lady Augusta Stanley, and Lady Frances
Sallie, had the honour of dining with the Queen and
the r,yal family.
Sir James Clark has left the Castle.

The Prince of Wales, accompanied by Prince Louis of
Hesse, rode out on S.iturday morning, attended by Colonel
Kingscote.
The Prince and Princem of Wales drove out in the
afternoon.

The Prince of Wales, with Captain Ellis in waiting,
attended divine service at the Chapel Royal, St. James's,
yesterday.
The communion service was read by the Rev. the Sub-
Dean and the Rev. Thomas Helmore.

Anthem, " Oh where shall wisdom be found," Boyce.
Sung by Masters Carmichael and Wood, Messrs. It.
Barnby, Cummings, and Whitehouse.
Mr. Goss presided at the organ.
The sermon was preached by the Rev. the Sub• Dean
from Ist St. Peter, ch. 1, v. 8.

A Cabinet Council was held on Saturday at the
of residence of the First Lord of the Trea-
sury, in Downing-street. The Ministers pre-
sent were the Earl of Derby, the Lord Chancellor,
the Duke of Marlborough, the Earl of Malmes-
bury, the Right Hon. (I. Hardy, Lord Stanley,
the Duke of Buckingham, Sir John Pakington,
Sir S. Northcote, the Chancellor of the Exchequer,
the Right Hon. H. T. L Corry, the Duke of
Richmond, Lord J. Manners, LordNaas, and the
Right Hon. S. H. Walpole.

A Committee of the Lords of her Majesty's Most
Honourable Privy Council sat on Saturday at the Privy
Council-office, Whitehall, on the subject of the cattle
plague. The lords present were the Lord President and
Lord Robert Montagu.
The Duke of Leineter, the Earl of Wilton, Lord
Wrottesley, the Right Hon. Sir Oeorge Clerk, Mr. Broad.
wood, Mr. T. T. Bernard, and Mr. Kellow J. Pye, had an
Interview with the Chancellor of the Exchequer in Down.
ing•street, on Saturday.

A deputation, oonsisting of Mr. John Vance, the Right
Hon. Colonel Fitssteven French, M.P., Colonel Knox,
M.P., Colonel Sir James M. Strong, )LP., Mr. E. C.
O'Neill, M.P., Mr. F.. Wingfield Verner, M.P., Mr. D.
C. Brady, and Mr. R. A. Plunkett, had an interview with
Mr. Hunt, at the Treasury, Whitehall, on Saturday, on
behalf of the Newry Navigation Company.
Despatches were received on S►turday, at the Colonial-
office, from the Governors of Malta and Heligoland. De-
spatches were sent to the Governors of the North Ameri-
elan Provinces, Bermuda, and Britiah Honduru.

VISIT OF HER MAJESTY TO THE PRINCESS OF
WALES.-(THIS DAY.)

Thin morning her Majesty the Queen, with
Princess Louis of Home, attended by Lord Alfred
Paget, Colonel Hardinge, and the lady in wait-
ing, left Windsor M 20 minutes past 11, and
proceeded via Slough Junction, West Drayton, and
Southall, to Paddington, which was reached at 12 o'clock,
and then drove to Marlborough House. The Viceroy of
Egypt will dine with the Queen at the Castle, and sleep
there to-night.

The dinner which is to be given by the members
of the United Service Club to the Viceroy of Egypt
will take place on Friday next. In 1862 the mem-
bers of this club were honoured by the presence of
the late viceroy at a banquet.
According to present arrangements (says the
Court Journal) the Queen and the royal family will leave
the Castle for Osborne on Saturday, the 13th inst.
THE PRINCESS OF WALEs.—The Princess of
Wales drove in the Park on Saturday, and her re-appear.
&nee in public was received with marked gratification.
The Princess does not, it is said, bear the signs of illness
which might have been expected from her long confine-
ment within doors.

The Queen of Prussia will take her departure
from Wind■or Cantle to-morrow, on her return to the Con-
tinent.

The Earl and Countess of Carnarvon entertained
at dinner, at their residence in Grosvenor-street, on Satur-
day evening, the Duchess of Buccleuch and Lady Margaret
Scott, the Marquis of Abercorn and Lady Georgians
Hamilton, the Earl and Countess of Tankerville, the Earl
Beauchamp, the Earl of Morley, the Countess of New-
burgh. Viscount St. Aleph, Sir Henry Storks, lady Mary
Stanhope, Hon. Auberon Herbert, &c. The countess had a
numerously attended reception later in the evening.
The Right Hon. Chichester Forteecue and Frances
Countess Waldegrave have received at Strawberry Hall
since Saturday last his Excellency the American Minister
and Mrs. Adams, H. Van do Weyer, the Earl and Countess
Russell and Lady Georgians Russell, Vis ount and Via-
countess Amberley, Lord Stratlmairn, Lady Churchill, the
Right Hon. the Speaker and Lady Charlotte Denison, the
Right Hon. W. E. Gladstone, M.P., and Mrs. Gladstone
and the Misses Gladstone (2), the Right lion. Charles
Pelham Villiers, M.P., the Right Hon. George J. °when,
M.P., and Mrs. Goseben, Mr. and Hon. Mrs. Vernon, Mr.
and Mrs. Henry Reeve, Mr. and Mrs. Bingham Mildmay,
M. and Madame Laugel, Mr. William Harcourt, Mr.
Fleming, and Mr. Charles Harcourt.