The Express.
London, England, 1857-06-13 00:00:00

THE EXPRESS, SATURDAY EVENING, JUNE 13, 1857.

iug, that they may yet see lamentable came to change
their opinion, for it appears tom inevitable that any
political or monssereial calamity of importance must
involve the ruin of establishments whose prosperity,
and emit whose existence, depends chiefly on active
spedetten and unshaken credit. Believing, mere-
elle. ant the position of the French Cridit Mobilise
i.eWy attributable to the MAIM. Emus, ws
di NI attach the slightest weight to the amen
elik)ms been circulated, that M. E. Pin= is
&beet to resign his post ea President. Still lees ces-
&Ws is it that he should have been imbed to some
to mesh a determination from any feeling of diesp-
pointment at not being allowed to introduce his pe-
culiar views into the management of the Bank of
France. The systems of the two establishments are
PO totally different that the suggestion is palpably
abased, and has no other foundation than the fact of
his having been invited to express his opinion re-
specting the modifications to be introduced into the
Statutes of the National Credit Establishment.
The general financial views of the Count DE Gee.
MDT are understood to be very similar to those of
31. D'Asc.ort —namely, to apply the resources of the
Bank chiefly to the development of Commerce sod
Agriculture, rather than to maintain the prices of
Storks and Shama. He is said to be equally opposed
with his predecessor to any extension of the paper
currency unaccompanied by a proportionate metallic
bailie; and on that account he is lees popular among
• certain class of French financiers than some who
mem maned as candidates for the office. Of good
flimßr—his father having been a gentleman of
Mmo position in Normandy—and of courteous
rose, he pommies those personal &tinn-
ier* which, combined with his great powers of
lication, arc essential to the maintenance of the
of so important an aloe t and trying as the
ocupemisca necessarily must be to any one succeed-
ing the late highly-respected Governor, we trust
that M. or OCIIIINT will fully maintain the high
character of the Bank of France as • National Esta-
blishment, and extend still more widely the sphere
of its public utility. He accept' his appointment at
• period by no mans free from political and financial
elands ; but so far as our information goes, he would
appear to be fully alive to the notiess:ty of continuing
that firm and prudent coarse which has enabled his
prodecemor to maintain the credit of the institution
through periods of difficulty such as we trust may
not again either endanger the Bank of France or
cheek the growing commercial prosperity of the
country.

THERE WS= to be no question at all than Tendon
who have violated their trust shall be made arias&
nally responsible—that, as Lord BIOUGHAX sap,
the fact of a man being a Trustee is only an
aggravation of his robbery. The only difficulty
which seems to be felt is as to the best mode of
giving practical effect to this unanimous opinion.
ameting any new law it is obviously eon-
'saint to do so in the way which shall be most
seedy understood by persons generally, and shall
be most easily appliod by those who admi-
nister the law. In the case under consideration
this is especially true, because the new law is one
which will have to be applied, not only by
the Judges of the Superior Courts, but by
Magistrates at Quarter Senins. The Bill whirl
the ATTOILNET•GENZIAL has introduced into the
Homo of Commons consists of a good many sections,
sad, so far as we have had an opportunity of
forming an opinion, seems to be wincessearily
prolix : whereas simplicity and definiteness ought
to be the aim of the framer of every new criminal
statute.

-----
In defining this new criminal offence there is
certainly ample material from which we may derive
assistance. For the misappropriation of the property
of another—in other weeds, fraudulent breaches of
trust—have been deemed thefts from the time of
ITSTINLita to the time of the Code NAPOLEON. In
fret, it should seem that the only countries in which
this offence is not considered criminal are England
and Ireland. It is not the duty of a journalist to
draw Acts of Parliament ; but having considered
the matter, we cannot help suggesting that the
whole object might be attained by some such simple
clause as this : That any person who, being a trustee
or bailee of the property of another, shall, with intent
to benefit himself, fraudulently deal with such
property, shall be dosed to have feladonaly stolen,
takes, and carried aim such repute within
the moaning of ea iallelmea he Weeny. This, as
it seems M ier well semoolhit Ihe wide sod in
view. The IliodeisoliesalgalL easiterhpesperty
" being meek the dime d homy b ewapiste ;
and this mho of dli f7le des has two advan-
tages. The *saddest imeisi is the English equi-
valent fits thefroadohne emereetotio of the Roman
be, mid dierefore all the ewe which bare been
ieilll won these words will serve as the beat
pls rue to the interpolation of the terms in
lie proposed statute. But, further, this fraudulent
dealing with intent to benefit himself is the popular
notion—and, indeed, the true notice—of the mast
aggravated species of theft. In charging the Jury,
therefore, on such an indictment, the Judge will
have the great advantage of knowing that the Jury
will readily understand him : and in administering
the law it is no small thing for a Judge to
find that in enforcing a law he is enforcing
an obligation the neglect of which is generally
recognised ea a crime. We hazard these sugges-
tions on this important matter because we have reo
son to believe that numerous attempts have been
made to draw a satisfactory Bill on the subject, and
because it appease, strangely enough, to be supposed
that the making certain breaches of trust criminal is
not only something quite new, but may, perhaps, lead
to dangerous consequences, by preventing honest men
from accepting trusts in future. The slightest con-
sideration, however, will show that there is nothing
in either objective.
At the same time we rejoice to find that so expe-
rienced and eminent an equity lawyer as Lord Sr.
LIoNARDs has undertaken the task of relieving
trustees from the consequences of some of those harsh
doctrines which have hitherto prevailed in the Court
of Chancery. There is scarcely any man of thirty who
is not a Trustee in some way or other, generally in
some marriage settlement, and there is scarcely a
single Trustee who has not been guilty of some
breach of trust, for which he may have a Bill filed
against him. But, as Lord Sr. LEONARDS said,
these breaches of trust are generally done from
the most benevolent motives —in fact, at
the earnest entreaty of the cestiti.que-trast--
of, in other words, the person beneficially into:sea
Women, we are told, have gone down on their knees
to implore the trustee of their marriage settlement
to advance some of the settled mosey ; sad • !eau
years after have actually themselves filed bills to have
that very money repaid to them. Indeed, the kr/-
convenience of being a Trustee is so great—the 11114
eulty of refusing to be • Traetee so considerable, dot
the propriety of having some Company for the
purpose of acting as Trustee has of late yeses
been frequently broached ; and we understand that
Company with limited liability is even now being
established for this purpose. Lord Sr. LEONARRIS
seems opposed to this idea, though we have remit
to believe that some of the ablest lawyers sot
Judges entertain a very different opinion. Tim

plan of a Trustee-Company has, no doubt, ob-
vious advantages. For its own protection, it would
adhere to the terms of the trust, it would fulfil the
directions of the settlers of property and of testators,
but further it would considerably diminish the
expense of management, for it is well known that
when Trustees are to be changed, or when their
places vacated by death are to be filled up, a
good deal of expense attends the new appoint-
ment. On every such change the property has
actually to be conveyed just as it is trans-
ferred on a sale and purchase. Whereas, if the
property were vested in the name of a Company, no
each transfer would ever bo required, because the
Company being a corporate body would be a permanent
Trustee—it would neither die nor become incapable
of acting. The question, however, whether the public
will consent to have their affairs managed by a company
instead of by individuals is one which time alone can
determine. At all events we see no harm in making
the experiment
With regard to the details of Lord St. LEonsios
measure, they are probably too technical for the
columns of a journal ; but there can be no doubt
that the doctrines of which his Lordship complains,
have long been known and lamented by professional
men, end we trust that the amendments of the law
suggested by his Lordship may, notwithstanding the
doubts of Lord Chancellor CRANWORTII, prove
effectual.

new effect was given to the myriad colours. The
ear was pleased to ecotacy by the modulation of
sound, human voices mingling with the strains of
instruments, and mind and sense alike were
taken captive. To exaggerate the impressions then
excited would baffle the most imaginative.