The British Press; or, Morning Literary Advertiser.
London, England, 1824-04-15 00:00:00

VIE BANKRUPT LAWS.

Wha it Bankruptcy?
It is neer osary to a simplification of these complicated
laws, that ;the nature of bankruptcy should be defined and
bett'-r und :rstood. To apply the purpose and use of lan-
guage, con iisteney requires that there must be a bank be-
fore there (ran be a broken hank—a barker before there is a
bankrupt. The implication of hanker, though the word is
not used ex( rpt to distinguish a particular class of traders,
dealers in n:oney, comprehends a public trustee, as eve; y
man in truth is, who receives the property of others into
his possession, and thereby raises a fund to carry on his
trade or de: dings, under stipulations to pay the value at
distant per irsd of time. This property the trader intrusts t
others—consumers or retailers—who, by not fulfilling their
engagement' to pay, inconvenience the middle ptvson,
the trust ai.ent (which in effect lie is), and renders him
unable to kt ep his engagements with the manufacturer,
importer, or party, of whom he obtains the effects, money,
or goods ; and although he charges an advance or profit
upon the articles, • lie not only risks that profit, but the
value of the article also, for which be has made himself
liable by the purcluns, and receiving it.
It will be at onre seen that there is casualty and risk in
trade, where goods ail purchased in large quantities and dis-
posed of on credit to m Any, and that great judgment and cir-
cumspection are nee: at ary as to the quality and price of the
articles, and the credi of the persons dealt with, to insure
success; but events pi ovc, that the most prudent and ju-
,licious proceedings it trade sometimes fail ; and that in
some cases, where tl,eae qualifications arc nut very ap-
parent, prosperity atte: ids the trader.
There appears to be three leading features or shades of '
. moral distinction in todern bankruptcies. The first and
least injurious in soci. ity may not merit a a severer repre-
hension than calling it hlanseabh—for bankruptcy, under
the most palliating circumstances, will hardly ever escape
some censure. It it hi! attended with gross imprudence,
insufficient judgment, :legligence, or extravagance,
_it ex-
cites a stronger repreliei ision, anti may be considered culp-
able. Again, if the dealings are clothed in deception, and
the transactions not grounded in reason and integrity, they
are criminal. _ _ _

It cannot be disputed, that to get in debt and not pay is,
in every instance, a trespass upon the creditor; and it is
inconsistent to construe it as blameless, when the law may
inflict punishment by imprisonment for the offence (for
such in plain language it actually is), and it appears, there-
fore, that for the last• to pronounce bankruptcy not crimiaal,
is a declaration impolitic, as not calculated to promote mo-
rality, nor called fur by any necessity or expediency for the
general good of sock ty.
In- the true spirit .)1 our bankrupt laws, which breathe
at once national policy, humanity, and justice, every per-
son who is in the }molt of buying or manufacturing, and
selling any goods, or transacting any business for others
(not as clerk or serve nt for a salary) to gain a living there-
by, through which hit lawfully becomes possessed of pro-
perty to a certain a mount, which the law describes, is
amenable to the Bankrupt laws, if he should in any
respect, delay, or eve: de payment, under any collusion or
intention to deceive, when the time of payment arrives.
This seems to be comprehensive of every description of
persons liable, the enumeration of whom could never be
perfect and infallible, and an equal difficulty would attend
a description of all persons not liable. The nomination,
therefore, of certain tinders subject to the laws, and of
persons not subject, seems rather calculated to create dis-
pute and litigation tha n to facilitate the determination of
what are legal bankrui tries. It would be far better that a
Jury of independent, Oisinterested men should decide upon
this point, than that it should rest with a few chosen indi-
viduals (Commissioner s), who arc pecuniarly interested in
every stage of proceed mg in bankruptcies.
Certificates of confccmity and proper conduct in bank-
rupts would also be more likely to be suited to the justice
of the case, if they wet- e granted or refused, upon ir: merits,
by a jury, than by the dicta of prejudiced or partial cre-
ditors, who constilath.vally are disqualified to decide in
their own cause; whets the certificate might he withheld or
absolutely refused, according to the circumstances of pal-
liation or crime, which marked the bankrupt's conduct, as
before described: and this trial should take place, at the
expense of the estate, immediately after he had paned his
examination. An honest industrious trader is valuable is
society, and worthy to be protected, but a fraudulent
character is a nuisance ; the question therefore is of public
concern, and ought to be tried upon its merit, unprejudiced
by partiality on the one hand or revenge on the other.
The preamble of the bill now pending, purporting to
amend the laws and simplify Aar language, is calculated
to raise expectations of great improvement; but it is very
deficient in its various clauses of effecting that object: the
consolidation of the laws is certainly most desirable, and
there are two es three new clauses of' a wholesome nature,
but they are of minor consideration, and the delays, litiga-
tion, and expenses will be rather increased than diminished
by it. It can hardly be considered consistent that one part
of the bill proposes that composition with creditors, shall be
an act of bankruptcy, and the last two clauses but one
provide that composition shall be a ground for superseding
a bankruptcy. Now, if composition took place without
the bankruptcy, all the law expenses would be saved, with
a great loss of time, so that the creditors would get much
better dividends, and sooner paid, than if a bankruptcy
was worked; but then, alas! the lawyers would get but
little, the commissioners, &c. nothing!
Upon the whole, the bill is a public delusion ; it is alto-
gether the bill of the lawyers, who alone will be benefited
by it ; for it would be a violence to common sense to " con-
strue it beneficially for creditors," as the last clause directs;
which also declares it is " not to alter the present practice
in bankruptcy." It is therefore devoutly to be wished, for
the honour of the British character and the good of the
people, that it may not pass into a law ; but that the great
portion of the community, the trading interest, will cont-
tnunicate together, and submit to Parliament other and
more salutary propositions, against another session, till
when the sulject should be delirred in Parliament; and
in the meantime such enactments may be devised as will
fully meet all the defects of the present system, and confirm
bankruptcy what in berth and reason it really is and ought
to Ise; and prevent any chimerical and fallacious interpre-
tation of it to favour the views of individuals, who, of
right, have no other interest in the subject, than as agents
to carry the law into effbet.
These observations appear without preface or apology,
from knowing the value of space in a public journal; but
may possibly be followed by some further remarks, pend-
ing the present bill, if they may be thought to possess suf-
ficient interest for public consideration.
MERCATOR.

CH.% NC El% COM missioN.—The King has been pleased
to direct letters patent to be passed under the Great Seal of the
United Kingdom of Great Britain and Ireland, appointing the Earl
of Eldon, Chancellor of Great Britain, and the Chancellor Lord
Keeper and Commissioners of the Greet Seal of Great l'ritain for
the time bang ; Lord Redeadale ; Lord Gifford, Mama of the
Rolls, and the Master of the Rolls fur the time being; the Night
Honourable Sir .:olin Leach. Knight. Viee-Char.cellor of England,
and the V ice.litancellor of England for the time being; Sir ( hales
Wetherell. Knight, his Majesty's Solicitor-Genera] ; Samuel
[ Compton Cox, Eaq. one of the Matters of the Court of Chancery ;
Anthony Vert, Et.q., one of his Majeatp's Counsel learned in the
Law; Stephen Lushington, Doctor of Civil Law; IVilliam Cour.
tenay, Es;., one other of the Masters of the Court of Chancery ;
Robert Percy Smith, Joseph Littledale, John Merman Merirale,
Nicolas Convngliam Tindal, and John Ileame,, E.grx., Barristers'
at Law, his Majesty's Commissioners,—for inquiring into the prat.'
tice established in the Court of Chancery.
Discovarty Situ's.—The Hecht and Fury discovery
ships arc rapidly preparing at Deptford for the Polar Expe-
&littera. Every precaution seems to have been taken, that
comfort and ingenuity can devise, to render their success
complete. The internal fittings are compact and elegant,
and the means of conducting warm riir throughout the 1
I vessels, and the contrivances for drawing of the moisture
from the steam, Meath, &c., are worthy observation.
They are furnished with the propelling paddles, worked I
es the chain pump. to assist in passing through the light
ice, and their hews are about nine feet thick, lined, as are
their sides, with cork, and plated externally with iron.
Both vessels arc now receiving their last coat of paint.
Visitors arc politely received on board, and every attention
shown to gratify curiosity by the officers, in the most hand-
some manner. The names of the visitors arc inserted in a
book. A farewell entertainment will be given by Captain
I Parry, on board tht Heels, on the 7th of May, when both
ships will be completely ready for sea, and will be at the
Nore on the 10th.

' CHILD EVANT.—Another child WU burnt to death at
Mahon last week, which makes the third accident of the
kind within a few weeks at that place.—York Cuirass!.

gPORTMG TIVDELLIGENCR.

NEWMARKET CRAVEN MEETING, 1124.

MATCHES.—MO24III•Ir, APRIL 19.
The Duke of Grafton's ch. e. Hampden. byli übens, 4 m 'ea
Oit. 101 b. iglu Lunt Foley's b. f. Palais Royal. loy Blucher, 3 ‘i`s.
old, 7s*. 131 b. Abingdon mile, for3ls soy. NO It.
Mr. Udny's C. by M'oful, out of Pantina. agst Mr. ThorniMPs
b. c. Spoilt Child. lby Scud, out of Romps dam, ast. 71b. escb_.
1110 soy. h. ft. The course not yet mentioned.
Sir J. Dyng'sbr. C. Edward, by COMM. our of Camilla, get, v 4
against the Duke of Portland's hr. f. by Phantom, out of Du
ftst. 41b. Ditch Mile-100 sot. h. ft.

TrEsnsT.
Mr. Powlett's b. c. Eden, by (;onus, Sst. lab. apt Low Due..
wich's gr. f. Dandizette, by Whakbonc, fht. 31b. Ditch Mile_
200 suv. h. ft.

Mr. Fox's bi. e. by Comus, out of Lady Ern, apt Mr. {per.
ham's ch. c. by Selim, out of Aquilino. Ditch Mile-900 cos.
h. ft. Weights not mentioned.
_

THOIIIIIDRY.

Sir J. Syng's b. e. Mori;4;l;y7iuley, 4 yrt old, Ilst. 711). azia
the Duke of Portland'• ch. f. Gabrielle, by Partisan, 2 yra ok,
Ilb. Across the Flat-100 soy. h. ft.

MOSTVN HUNT RACES.

WEDNESDAY. APRIL 7.
A Cup, value lOgs. and 40gs. in specie, given by Sir Thomu Mot-
tyn, and 10gs. to the second, for horses not thorough-bred, the
property of and ridden by Farmers. Two-mile heats.
Mr. Gough's ch. g. Witchcraft, aged, 13st. 0 1 t
Mr. Griffin's ch. c. 4-yrs-old, Ilst. 121 b. - 12 g

Ten others suited, but were not placed.
Sweepstakes of 20gs. each, 12st. each. Two wiles.
Mr. Williams's eh. g. Vividus - . .
Mr. Shaw's ch. g. Sir Lister
Mr. 13radshaw's ch. g. Brief
A Sweepstakes of 10gs each, h. ft. for horses not thorough-bred,
and that never started against a thorough-bred one. Geat
men riders. Two miles.
Mr. Worrell's b. g. Falstaff, aged, 12st. 01b.
Mr. Molony's b. g. Cygnus, aged, 12st. 21b.; Sir H. Peytoq's
br. m. Edgcott, aged, 12st. 91b.; r. C. Day's b. g. by Waltlsman,
. aged, 12st. 21b. • Lord Dorchester Ms
b. g. Banker, aged, 125t.21b.;
Mr. Willianis'sb. g. Bimby. aged, 12st. 21b. ; and Mr.Biddulpli'l
b. m. Rosebud, aged, 12st. 21b., also started, but were not placed.
A Sweepstakes of figs. each ; one milo heats; 12st each ; mares
and geldings allowed 31b.; Gentlemen riders. Winner to be sold
for begs. if, Ac. Twelve Subscribers.
Mr. C. Day's b. m. Victorine, aged
Mr. Pryaes gr. m. Undine, 5 yn old

SPARRING.
The Fives Court was a general treat yesterday, and it was tea
attended ; the amateurs mustard strong. The sets-to, in the ab-
sence of Spring and Langan, were excellent. Officers from Bow.
street were employed upon this occasion. The displays of pugilism
were fine between the first men on the list. Cooper, the gipsy, and
the Pet of the. Fancy (Curtis), set-to together, and they made an
excellent bout. Bibb et set-to with a man of equal goodness.
Reuben Martin, George Curtis, and Rednan, were much applaudatl.
Other regulations followed, to the satisfaction of dm visitors.

The Devonshire stag hounds will commence the spring hind
hunting season on Tuesday, the 13th inst., and they will hula
Tuesdays and Fridays until the 20th of May. Tueiday, Aytil
13, at Iluntshain-wood ; Friday, April 16, at Coal bridge. Hoer
of meeting punctually at nine..—Deren paper.

CORN EXCHANGE, Arzrt 14.

Our Market has ben very thinly supplied with all Grain to-day,,
and having but few buyers every article was rather heavy sale, with.
out any material variation in the prices of Monday. As every at.
tempt to alter the Corn haws creates a great sensation at our
Market, the proposition of allowing bonded ll'heat to be ground
caused some ansiet)' in our buyers, as to the influence of such a
operation on prices, and in some respect the cause of our dull
Market this morning may be attributed to the above proposition.

COAL. MARKET, APRIL 14.
Ships at Market. Ships sold. Price.
31 Newea.tla . - 27 - - 35. Od to 44. OIL
17 Sunderland . . 16 - - 34. Od to .43.. ed.
1 Scotch Coal - 4 - - n. 6d to es. Id.
6 Claim - - 6 - - 323 Od to 33a. Od.

An action for damages was tried at the Kerry Assizes.
Eager r. Nl`Sheeby, for loss sustained by plaintiff' in con.
sequence of the seduction of his daughter, under promise
of marriage. This trial occupied the attention of the Court
and of a respectable Jury for the whole of Monday, who
(at ten o'clock at night) returned a verdict for plaintiff-
-2501. damages, and casts.
If any neglect to purchase a Ticket or Share berme next
Tuesday, April 20, it must be from their net knowing of the op-
portunity of trying for the Three remaining 20,0001. Prizes almost
free of expense, as Mr. Sirewright guarantees all who apply before
29.6 April, may receive back at least the value of a 201. Prize at
the office where they purchased, if they miss all the more valuable
ones. and 20,0001. is lure to be added to the first Prize drawn ; thus
the tisiwnst that will be risked is 11. 19a. in a whole Ticket, and 9a.
in a Sixteenth, other Shares in proportion, whilst, from the advance
in the funds, these trifling sums may absolutely gain considerably
more than a 20,0001. Prize.