The Sun.
London, England, 1867-06-05 00:00:00

THE BANKRUPTCY LAWS.

Mr. SELWYN moved the second reading of this bill.
Sir R. PALMER pointed out the changes in the present
bill with that introduced last year, and said he did not
think the deviations were by any moans an improvement.
With respect to the debt of the petitioning creditor being
fixed at £5O, he thought it far better to leave the debt of
the petitioning creditor without any limit. But it
would then be said that that would enable a
creditor with a debt of trifling amount to present
a petition in bankruptcy against a creditor. He did not
see any great hardship in that, because it the debtor re-
fused to pay small sums there would be all the more likeli-
hood that ho would not pay any larger sums. Then again
with respect to persons declaring themselves bankrupts,
he thought the provisions of the former bill far before that,
of the bill now under consideration, because by the present
measure a debtor was enabled to make himself bankrupt
at any timo and in any way he pleased, this taking away
the common law right every creditor possessed of
adopting his own mode to obtain payment of his debts.
With respect to discharge, he knew it was a very difficult
matter to deal with. In the bill be had the honour to in-
troduce last year, it was proposed that when a person paid
6s. 81. in the pound, and had committed no offence under
the act, he should have an immediate discharge, but the
proposal of the hon. and learned gentleman oppasito had
fixed the amount at 10s. Considering the very few
bankrupts who had paid so large a sum, he
thought fixing so large an amount was tantamount to
refusing all discharge from debt, so far as after acquired
property was concerned. When the • Bankruptcy Court
went in and made a clean sweep of all that a man possessed
towards the redemption of his debt, he thought it was un-
fair, having taken his all, to allow his old liabilities to be
kept constantly hanging over his head. He thought,
however, the thanks of the house end the country were
due to the hon. and learned gentleman for his contribu-
tion towards the improvement of the law.
Mr. MILL approved of the amendments to be proposed
by the hon. and learned gentleman the member for the
University of Cambridge. He had a notice on the
paper last session referring to this matter, and at
the proper time, and the opportunity offered, ho should
bring it forward. The point he wished to deal with was,
that where debtors kept just within the strict letter of the
law, and with culpable temerity risked and lost property
belonging to their creditors. (Hear, hear.) Ho should
move an a►uendment to deal with that and other matters
On a future °evasion.
_ .

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Mr. E. K. K ARS LAKE said the great difficulty in re-
forming the bankruptcy law was the question of after-
acquirad property. He the-light the bill of the Att yruey-
General hit the happy medium between too great cruelty
and too great leniency, and therefore he should give it
cordial support.
The discussion was continued until a few minutes be-
fore seven o'clock, when the house adjourned.
On reassembling at nine,
Viscount ENFIELD moved for a select committee to
inquire into and take evidence as to the law and practice
relating to the summoning, attendance, and remuneration
of special and common juries, and to report to the house as
to any alterations which ought to be made therein.
Mr. Secretary HARDY expressed his concurrence in
the necessity for inquiry ; and, after a few words from Sir
E. BULLER, who said he knew a case in which tho inhabi-
tants of a town with a population of 20,000 were altogether
exempt from serving on juries, the motion was agreed to.
In moving for leave to bring in a bill for the better re-

gelation and supervision by the Board of Trade of the ac-
counts of railway and other joint-stock companies, Sir W.
MITT adverted to the disastrous consequences which
have resulted to innocent shareholders from the reckless
and fraudulent conduct of the managers of joint-stock
enterprises. He recommended that no company should be
allowed to pay a dividend until it shall have deposited its
balance-sheet with the Board of Trade ; that there should
be an official audit by the Board of the accounts of the
company, and that in case of default the penalties of the
Railway Securities Act of last session should be enforced.
Mr. STEPHEN CAVE observed that the suggestions
proposed to be carried out were commendable, but that he
did not think they could be carried. A uniform system of
accounts would no doubt be very desirable, but a Govern-
ment audit might, he feared, tend to inspire false confi-
dence on the part of th' public. He should not, however,
object to the introduction of the bill, although ho assured
the right hon. gentleman it contained nothing new.

Leave was given to bring in the bill.
Mr. VANDERBYL called attention to the petition (pre-
sented May 30) from the inhabitants of the Cape of Good
Hope, praying that her Majesty's forces might not be with-
drawn from that colony ; and moved that an address bo
presented to her Majesty that she would be pleased to
grant the prayer of the Cape colonists that her Majesty's
forces be not withdrawn from the Cape of Good hope.
Mr. GOBS T expressed his opinion that the sooner every
British soidier was removed from the Cape the better
would it be.

Mr. ADDERLEY observed that the colony of South
Africa had received ample warning that the troops would
be withdrawn, and that the colonists would have to de-
pend upon their own resources. It was proposed that in
1868 one regiment should either be paid for by the Cape
or be withdrawn; that in 1869 two regiments should be
either paid for or withdrawn, and that the same rule
should apply to the remaining two in the year 1872. The
defence of the Cape colony now cost tho mother country
.£300,000 per annum, and it would be unjust to allow such
a state of things to continue.

Mr. CARD WELL, fully approving of the policy of the
Government in leaving the colony to defend itself, hoped
the motion would be withdrawn.
The motion was eventually withdrawn. _

Leave was given to Mr. Secretary Hardy to bring in a
bill to authorise the enclosure of certain lands in pursu-
ance of a special report of the Enclosure Commissioners
for England and Wales; and also a bill to confirm a cer-
tain provisional order under " The Local Government Act,
1858," relating to the district of Halifax, and for other
purposes relative to the said district under that Act.