The Sun.
London, England, 1858-11-11 00:00:00

THE WEATHER.-SUN .OFFICE, Nov. 11.

THERMOMETER, IN THE SHADE.
4.s—highest since noon yesterday.
40—lowest this morning and during the night.
46—this day at noon.

BauomETEr.-30.33.
' Wixt, South-Easterly ; light, with fine weather. Heavy
fog in the morning.

The question of Bankruptcy and Insolvency Law
Amendment must come before Parliament and the
country next session. Two bills have already
been brought forward—the one by Lord CHELMS-
FORD in pursuance of the pledge he had given, the
other by Lord JOHN RUSSELL, who, to a certain
extent, may be regarded as expressing the views
of the Society for Promoting the Amendment of
the Law. We believe that many alterations will
be made on behalf of the Government in the
measure brought forward by the Lord Chancellor,
and that with the beneficial alterations contem-
plated, it will go far to meet the viewsboth of creditor
and debtor, affording a just and fair distribution
of property amongst the bona fide claimants, and
protecting the latter if he has honestly and truly
disclosed the state of his affairs, and given up his
entire estate for distribution amongst those justly
entitled to participate therein.
The distinction that has hitherto prevailed
between traders and non-traders will, to a certain
extent, be abolished. It does not follow that the
Court for the relief of Insolvent Debtors will there-
fore be closed. On the contrary, that Court will
become absolutely indispensable. There are thou-
Sands of persons whose effects could not defray the
expenses of proceedings in bankruptcy. Indeed
there are many at this moment who :arc too
poor to become insolvents, and who are only
enabled to obtain their liberation through the use
of funds placed at the disposal of the Commis-
sioners and other public officers, The business of
the Court is admirably performed, and there arc
many honourable instances in which parties have
defrayed their debts - even to the last shilling,
although exempted from legal liability either
against property or person, save with the leave of
the Court, which will only be granted on facts
clearly and explicitly set forth.

But the Insolvent Court should be authorised to
grant complete relief; the power may be safely
confided to the eminent judges who preside
therein, or those who may be appointed their suc-
cessors. The present law is a tax on prudence.
It is virtually a bar to any future success on the
part of the person who has been compelled to seek
relief. His future exertions are mortgaged, and
should he be fortunate enough to save a little
money, it will only be the cause of vexation and
annoyance. It may bring him again before the
Court, rip up the troubles which had been what
is commonly termed a nine days' wonder, and occa-
sion very serious damage to his position and
credit. Can any reasonable cause be as-
signed why the insolvent, if he passes
his examination with credit, should be
placed in a worse position than the bankrupt ? A
large proportion arc men who are within the opera-
tion of the bankrupt laws, but whose assets are not
sufficiently large to tempt any speculative attorney
to work a commission. The creditors certainly are
not sufferers. They obtain full and complete jus-
tice, and have no reason to complain that the
matter has been decided in Portugal-street rather
than in Basinghall-street. The only sufferer is the
insolvent, who is compelled " to leave hope behind,"
inasmuch as any future success, any triumph that
may attend on ability, fidelity, and zealovill be not
for his own advantage, not for that of his family,
but for those who may possibly have proved obdu-
rate creditors, and completely ruined his prospects
in the hour of distress and difficulty. It is not
natural to suppose that a man would submit to
privation and difficulty—that he would refuse him-
self any indulgence, when it was merely for the
benefit of such persons. The debts incurred after
his discharge have priority, and therefore he takes
care to make his liabilities fully equal to his invest-

ments.
Now this is against public policy. There is no
principle on which it can be sustained, and we
hope and believe that Lord CHELMSFORD will next
session terminate the anomaly, and introduce the
greatest amelioration in the law of debtor and
creditor that has received the Legislative sanction
for a long series of years.
Imprisonment for debt will also probably be
abolished, at least so far as the mere will and plea•
sure of the creditor is concerned—there malice
will no longer prevail. Vindictive persons cannot

~
jet
•
tz
.7"

THE SUN.
THURSDAY. NOVEMBER 11, 1858.