The Sun.
London, England, 1823-09-10 00:00:00

PARIS.

PTPTO BE SOLD, with immediate Passession,
the LEASE and FURNITURE of a WHOLE HOUSE,
O
seven years unexpieed, situated in one of the most fashion-
ab'C'quarters near the !Wiwi Boulevards and thergue de In
Paix; consisting of entrance hall, dining room, vestibule,
drawing room. ten bed chambers, -kitchen, cellars, coach-
house, and stable. The Furniture is new, and the House is
fitted up quite its the English style, with terry possible ac-
commodation for a large Family.—Address, if by letter post
paid, to X X., Mr. Hodgson's, linohsellet, Winspole-street,
where more detailed l'articulass may tie had by pciional 311.
plication. •

A SAVING OF' ONE IN THREE. • _
SWIFT and CO. remind their -Trion& and
the Public that tie Drawingast the State, Lottery will
commence on the 45th of this Month, and they recommend
to -all Clubs, Societies, and ludiridnal Purchasess, to ar.sil
themselyes of the Present Extraordinary reduction of more
than one-t hi din the Prices of Tickets and Shares.. More
than Half the Tickets in this Lottery are sure to be Prizes !
The very Fitst Pt ize will hare 410,000.—There are Three Of
,C2o,ooo,'l'wo 44104000, besides Vosty-four other Capitals,
und nearly 11),(00 -st»aller Prizes, its the Scheme.
Tickets and Shines are Selling at SWIFT and CO.'s Old
and Fortunate offices,
11, Poultry; 31,. Altlgate High-ittret ;
le, Charing-Cross ;
Where Schemes at !raga may he bad gratis.

LAW between MERCHANT and FACTOR.

REPORT FROM THE COMMITTEE OF THE HOUSE

OF COMMONS.

The state Of the English laW as it relates generally .to agents
has, until within the last few years, been comparatively but
little known. An' immense number of persons, particularly
within about 20 years, have exposed themselves unawares, to
the risk of heavy pecuniary loss ; and they escaped only from
the success (as regarded all panics) ()Edo transactionia which
they engaged, or because those with whom they dealt were !1,1
ignorant of the law as they were themselnes. Some instincts
of unexpected suffering, however (where one party to a losing
speculation happened to discov.er his strict legal rights), 4pAt'an
extension,es it seenned, or at least more flee application by our
courts, of the principle which gave those rights, at length shoW.:
ed our capitalists the danger which they were running ; and
the result was that, the petition last Session to the Housi of
Commons upon which the report before us is founded,

The two 'subjeits ..which engaged thcattention of the Coot.
inittee related— .

" ht. Ta bona
_fide advances made, by third persons, in the
regular course of commerce, to agents or factors, in ignorance
of their (the factors) not being the owners of the property so
pawned.

" 2d. To purchases of merchandise from agents or factors
not invesed with the 'Power of see, although 'that fact is un.
known to the purchaser.

" It being understood that,by thp taglish law, as admini-
stered.in our courts of justice (though not established by any
statute), the person advancing money in one case (the Ist)
may be deprived of his security ; and the purchaser in the
other would be liable a second time to pay the value of the
merchandise." ,

In fact, the law, to use two familiar instances put in the re-
port; 'stands thus
As to the tinit point—

" A, a proprietor in the interior of Italy, sends a parcel of
silk to B, a:rnOrchaut. at Leghorn. B consigns the silk to C,
a merchant in London, for eventual sale, drawing against it (as
is the practice) for three fourths of the value at the time of
shipment. 'B having got these advances, fails, prior to the sale
by C; and A then retakes the silk from C, without repaying
him money."
To the" second point, the case is a short one—

"'A watch is sent to a watchmaker to clean, and he (being
also a watch-dealer) sells it to a bona fide purchaser; doubtful
if the original, owner is not entitled to take it away from, the
third party, without returning him the money he has paid
for it."

The refusal to secure advances upon property, where those
advances have not been taken by the real owner, is at variance
with the law and practice; generally, of Europe.
In foreign countries," say the Committee, " the rule of
law, as applied to moveable property, is that possession eonsti.
tyke tote ; and persons making advances of money upon such
property are not required to inquire to whom it belongs, and
are fully protected in the advances which they make ; and this
may be taken to be the law of Prance, Portugal, Spain, Sar-
dime, Italy, Austria, Holland, the Hamm 'Powns, Prussia,
Denmark, Sweden, and Russia; and the low of Scotlatui is also
in opposition to the law of England upon this point."
But the law which prohibits a factor, though authorized AO'
tell, from, under any circumstances, pledging the goods of his
principal, enticts(for the benefit of the principal) thist—A frau-
dulent factor may sell his principal's 5004 worth of goods for
250/., and apply every shilling of that money to his own use;.
but he shall not take up 2501. in the way of loan upon these goods,
leaving stall 2501. of their value available to the owner. Now to
say that a man may steal the whole of his employer.* property,
but that he shell ,not ateal the half of it, seems rather a ques-
tionable kind of, enactment for the sperific protection of em-
players. The pawn of pledging in a factor can add very little
(if any thing) to his gresent facilitieo for fraud. As far as no-
tice could go to the principal or to the world, no more publicity
need attend a selling,_ than a pawning of property. A factor
may sell property. Ile may sell, and yet have the. property re-
main in his own possession and apparent ownership. Nay, he
may sell to his own,
_creditor, and that creditor may deduct the
money owing to him. it becomes difficult, therefore, to con-
ceive what a wrong factor could commit by pawning., which he
may not do already under his authority to lied; but admitting
that we let in Some trifling additional facility to fraud upon an
owner by perinitting_ the factor .to exercise the inferior power, .
as lie already exercises, the higher, still we have to act against
that new facilitY (upon such an alteration of the law) most
trying grievance taken from. the shouldere of capitalists.: an
immense advantage accruing to the intcreatir,generally, Of coin,
coerce; and a great, and eventually indispenaable, relief given
to ;he original owner himself.
48 the law titandat it is almoSt impossible for a capitalist,,
saiwy, to aayanno his money ,upon any description of 'personal
propurv.(niercliandiae-1
Yonr.coniznittee refer to the evidence of Air. Leughnan.
Mr., Truitzwi,l Sr,FeMble, itnd, Mr. ,Cooke, of Lotition„ end
• mt.. Yates, and itp4-10-pe,,r. of Liverpool ; all. stating ill‘tamts