The Sun.
London, England, 1834-02-07 00:00:00

EIGHT OF THE CITY TO ATTACH GOODS

Mr. A. Baring attended at the request of the Commis-
sioners to give evidence relative to the right of attaching
goods in the City of London, and the jurisdiction of the
Corporation over sworn broker..
Mr. Baring, in reply to questions from the Commis-
sioners, had been extensively connected with trade for a
great number of years, but for the last ten years he had
not been engaged in commercial transactions. He had
many opportunities of considering the effects of the right
claimed in this City of the attachment of foreign goods,
and he hid a decided opinion that it was most injurious to
trade and encouraged frauds, and that it was most desir-
able that it should be removed. During the period when
he bad been actively engaged in mercantile pursuits he bad
never heard a contrary opinion amongst the merchants of
the city.
Sir F. PALGRAVE asked whether these objections wete
entertained by foreign merchants ?
Mr. Baring said that, as the existence of the privilege
was known, it operated prejudicially at Amsterdam, at
Hamburg, and amongst the American merchants, who
had strong objections to it.
Mr. Ews asked whether any similar privilege existed
in foreign ports ?
Mr. Baring thought that such a privilege did exist in
some places. It was a practice that was gradually dying
away.
Mr. ECUs asked in what instances fraud had occurred
in the exercise of attachment ?

Mr. Baring replied that if a man had a claim on an-
other he might transfer it to a citizen, who would then be
able to exercise the right of attachment. If be were to
be asked in what consisted chiefly the abuse of corporate
power, he should say that the power given to the Mayor's
Court io cases of foreign attachment was most injurious to
trade. 'I he subject was one of great importance.
Sir F. PAT.-GRAVE asked whether the exercise of bucb a
right might not protect foreign trade abroad ?
Mr. Baring said that might po,sibly be the case, but
an uniform law ought to be adopted. In America at-
tempts had been made to establish a general and
uniform bankrupt law, but all had failed. Some of the
States had established the exclusive privilege of the law of
attachment. No such law existed in Liverpool.
Mr. Commissioner DRINKWATER said that at Bristol a
law of the kind existed.
Mr. Baring—And Bristol is is a declining state. He
would first state that the bankrupt law of America was a
grievance felt in London. The law of attachment had
this effect :—lt enabled one to sweep off all property before
the foreign creditor could reach the place. He thought
there was no reason why one law should exist on this side
of Temple-bar and another law on the other. Exclusive
privileges of this kind always injured trade instead of pro-
moting it.
Sir F. PALO RAVE said that if the law of attachment
afforded protection to creditors it ought to be made gene-
ral. It cou!d not be useful where it gave one creditor ad-
vantage over another.
Mr. D,UNKWATER asked whether Mr. Baring was aware
that the appearance of the party in the Mayor's Court
whose goods had been attached dissolved the attachment ?
Mr. Baring said he was not aware of it.
Mr. Ews inquired whether Mr. Baring had turned
his attention to the jurisdiction of the City over sworn
brokers?
Mr. Baring (lid not think that the City had ever exer-
cised a control over the sworn brokers. He considered
it most important to trade that there should be an effi-
cient control over the brokers, particularly as regarded
tho,e trading in the articles for the sale of which they
acted as brokers.

Mr. Er.t.ts said the Stock Exchange brokers would not
give the names of their principals, as tl.ey said such dis-
closures would put an end to their trade. He wished to
know the opinion of Mr. Baring upon the subject.
Mr. Baring thought that if names were given the busi-
ness of the stockbrokers would be injured.
Mr. ECUs—That would apply more to the gambling
transactions.

Mr. Baring thought not ; many parties who made bona
fide transactions did not wish their names to be known.
Mr. Bilke ( a member of the Stock Exchange) said
►he objection stockbrokers had to sign the bond which
persons were called upon to execute when admitted as
sworn brokers was, that they were bound by it to declare
the names of principals, and they would also he prevented
from holding stock in which they dealt themselves.
Mr. Baring, in continuation, said that the brokers in
Paris, Amsterdam, and Rotterdam were under control.
In Paris the brokers were a Corporation, and under strict
regulations.
Mr. Bilke said that at Paris the admission of brokers
on the Stock Exchange was a Government patronage.

-.. ___ ___ -•
Mr. Baring then withdrew.
The inquiry was then adjourned till tomorrow (this
day).2

VAST RESOURCES OF THE BRITISH
EMPIRE. —Sire,-06r transenarine dominions offer to the
agriculturist measureless fields for pasture and tillage ;
to the manufacturer an incalculable extension of the home
market for the disposal of his wares;—to the merchant
and mariner, vast marts for profitable traffic in every pro-
duct with which nature has bounteously enriched the
earth ;—to the capitalist an almost interminable site for the
profitable investment of his funds ;—and to the indus-
trious, skilful, and intelligent emigrant, an area of upwards
of two million square miles, where every species of mental
ingenuity and manual labour may be developed and our
sioAnuosftrtahleiacna,ne;:igraAinfr(ielavillietphoesrs,weslsiieoants
tured into action, with advantage to the whole family of
man. England has no need to manufacture beet-root sugar
(as France)—her West and East India possessions yield an
Ain:ixalitiacu,sAtilmileerpicroLu,
barley, oats, maize, or rice) everywhere abounds --he;
contain boundless supplies of timber, corn, coal, iron,
copper, gold, hemp, wax, tar, tallow, &e. ;—the finest
wools are grown in her South Asian regions ;—cot-
ton, opium, silk, coffee, cocoa, tobacco, saltpetre, spices,
wines, and fruits, are procurable of every variety and to
any extent in the east and in the west, in the north and
in the south of the empire ;—on the icy coast of Labrador
as well as at the opposite pole, her adventurous hunters
and fishers pursue thei' gigantic game almost within sight
of their protecting fl ig ;—and on every soil and under
every habitable clime, Britons, desirous of change, or who
cannot find occupation at home, may be found implanting
or extending the language, laws and liberties of their father
land. In fine, Sire, on this wondrous empire the solar
orb never eets,—while the hardy woodsman and heroic
hunter on the St. Lawrence and Ottawa are shivering
beneath a winter solstice, the peaceful, but no less merito
rious farmer and shepherd on the Kysna and Hawkeshury,
are rejoicing over the golden grain and fleece of the autum-
nal southern clime, and every breeze that blows.from the
Arctic to the Antarctic Circles is wafting over the un •
fathomable ocean myriads,

" Whose march is on the mountain wave,
Whose home is on the deep."
—From Montgomery Martin's History of the Briti,ll
Colonies, Vol. I.—Asia.