The Sun.
London, England, 1866-05-09 00:00:00

Sale of Land by Auction Bill.

Mr. James Beal has addressed a letter to Lord St.
Leonards on this bill, criticising its leading provisions. Of
clauses sto 13, he says :—" They should be intitulod, To
enable the public to combine against the owner of property
offering same by auction, to obtain same at the price
agreed to by the parties to the combination, and below the
value of such property ;' and it proceeds in this most
unjust course by clause 5 denying to the vendor the
protection of the auctioneer, his own paid servant, who, as
much to save the time of the public as in the interest of
his employer, proceeds to facilitato the business by offer-
ing bids up to the reserve, at which he stops and declares
it to be open to the public present. This clause would,
in effect, destroy the business of the auctioneer,
and a system of sale by tender would bo preferable.
Clause 9 is a most unwarrantable interference with the
rights of the subject. If a man has fixed a price to pro-
tect his property, on what principle is he to be denied an
active agent to bid up to his reserve ? An auctioneer
would have no alternative but to introduce the Scotch
system of upset price, which limits price by letting the
whole world know the owners' idea of value, often in igno-
rance of real market value. Clause. 10 is utterly irrecon-
cileable with clause 6, which is to be a sale without reserve,
with privilege of secretly acting on a reserve. Clauses 11
and 12 are the corollary of the previous absurd restric-
tions, and place the auctioneer at the mercy of each
intending purchaser. One is at a loss to know what
grievance it is sought to remedy. A instructs an
auctioneer to sell ; by the bill A is to be bound so to obey
a law as to injure the market value of his property. B, C,
and D may be intending purchasers, who may legally com-
bine to possess themselves of A's property at a ridiculously
low figure. The law protects B, C, and D, but leaves A
helpless. But how are B, C, and D now protected ? That
either advised or acting on thair own judgment they attend
an auction, if the reserve or the bid of the auctioneerpasses
the price they deem adequate, they cease to bid, and the
property either passes to a bolder buyer or is bought in. If
an injustice can be shown in existing practice, rely upon it
the auctioneers are too high and too honourable a body to
hesitate about effecting a requisite change ; but I believe
all our evidence would point to the difficulty of protecting
the vendor against a combined public. The bill is power-
less for good ; but it is most powerful for evil in virtually
exterminating the business of the auctioneer, which has
grown with our commercial growth, is governed by com-
mercial laws, and is conducted by an intelligent and hon-
ourable body of men, who are at a loss to know why they
are the subject of your lordship's special attention. It
is beyond the province of legislation, and is a dangerous
precedent. If successful, you may proceed to deal with
the property of individuals, to fix values, to define rentals
or terms of leases, or to prescribe rules to vendors of paint-
ings or retail dealers. It is opposed to all modern legisla-
tion, and cannot be expected to receive the support of the
House of Commons, to whose commercial instincts it is
opposed. Let me show an absurdity. If an auctioneer
offers a diamond bracelet worth £lO,OOO he is to., be at
liberty to pursue his present practice ; if he offers furniture
or books, no obstacle arises ; and yet he knows well but
arra for the protection ho offers his client in his knowledge
of values he would be compelled by organised combinations
against him to part with his property at a third or fourth
of the value. The same knowledge and the same protec-
tion is to be of no avail to the vendor of lands or houses.
Is it not too absurd, my lord ? The law already throws
obstacles enough in the way of the transfer of real and
leasehold property ; land is all but extra commercium. Let
me invite your lordship to enter a field in which vast good
may accrue from well-directed labour in simplifying our
antiquated and cumbrous system of conveyancing. Depend
upon it auctioneers will keep pace with the changes which,
in so far as commerce is allowed an alliance with land
commercial spirit and energy demand,-