The Sun.
London, England, 1857-01-28 00:00:00

MERCANTILE LAW CONFERENCE,

(MEETING-THIS DAY.)

The deputation invited by the Law Amendment
Society to confer with them relative to the present state
of the mercantile law resumed its sittings this morning
at Willis's Rooms, King-street, St. James's ; presided
over by Lord Brougham.
Amongst those present were Lord Stanley, Messrs.
C. Russell, Liverpool ; C. H. Phillips, R. Wells, and S.
T. Hassell, president of the Chamber of Commerce of
Hull ; H. Brown, Mayor of Bradford ; L. Bruton,
secretary to the Bristol Chatnberiof Commerce ;
Crosthwaite, vice-president, and F. Cood, hon. secretary
of the Dublin Chamber of Commerce, and J. Jameson
and T. Prim, members of ditto ; J. Darlington, secretary
to the Chamber of Commerce of Bradford; A. Pellatt,
M.P.; G. Ridley, M.P.; J. Kiteley, 'Kidderminster ; H.
Saunders, town clerk, do. ; W. S. Ayton, Leeds ; J. A.
Turner, President of the Commercial Association, Man-
chester, with Mr. Rass, vice-president, Hugh Fleming,
secretary, and Mr. Entwistle and J. E. Taylor, members
do. ; W. Lee, vice-president of Chamber of Commerce,
Warrington ; E. Banner, of the Liverpool Law Society ;
R. Graves, Mayor of Warwick ; S. S. Lloyd, vice-pre-
sident of Chamber of Commerce, Birmingham ; J. W.
Wickham, M P. ; J. Wilson, vice-president Liverpool
Guardian Society for the Protection of Trade; J. Reny,
secretary do. ; J. Mitchell, Leith ; Leoni Levi ; Sir E.
Perry, Bart., M.P. ; T. T. Paget, president of the
Leicester Trade Protection Society ; Crawford, M.P.;
Thos. M'Clure, vice-president of the Belfast Chamber of
Commerce.

The Noble CHAIRMAN, in coinmencing the day's pro•
ceedings, congratulated the meeting on such an assembly
of irfluential persons from all parts of the country, in-
tereited in the present movement, and called attention
to the alterations that had been made within the past
quarter of a century for the improvement of the mercan-
tile law of this country, relathe to the law of debtor and
creditor, ,in 1831, 1840, 1841 and in 1849, by what
was known as the Bankruptcy Consolidated Acts, and
remarked that he and the Law Amendment Society in en-
deavouring to improve the law of this country substituted
a natural signification, with all its incalculable benefits,
for technical absurdities, with all their incalculable evils.
He also referred to objections that had been made to the
jurisprudence of the country, and the fault that some
found that the improvements were not often and did not
go far enough, to which he remarked that Mr. Bsntbam
had borne testimony tathe value of our jurisprudence,
and added that if it were bad the sooner it was swept
away the better. His principles were to endeavour
to improve what was good and remedy that
which was bad ; and as regarded the objections of
some that the reforms were not so sweeping and
speedy as they ought to be, he considered it was better
to take a cautious and firm step than rush into errors
that would require further amendment. The
noble lord concluded by stating that such con-
ferences as these must have great weight in effecting
the object they had in view, and after referring to that
held in 1852, called on
The SECRETARY, who read a report of the comrnittea's
proceedings.
Papers were then read on the law of debtor and credi-
tor, including bankruptcy, Judgment Executions Bill;
and United Kingdom Writs Bill.

A ve►y animated and interesting discussion ensued on
the various papers, in the course of which many valuable
suggestions were made.

At 4 o'clock the Conference suspended its sittings.

THE KING OF SARDINIA AT NICE.

The Moniteur publishes the following letter from
Nice, dated the 23d inst. :

"His Majesty King Victor Emmanuel arrived yes-
terday at Villafranca, at 9 a.m., on board the steam-
frigate Goveruolo, escorted by the Moza'nhano.
" After the customary salutes from the forts, from the
Russian frigate Olaff, and three Sardinian brigs in the
roadstead, his Majesty landed ou the quay, where he
was received by Count Cavour and by the civil and
military authorities of Villafranca• The King at once
mounted his horse, and, accompauied by a brilliant staff,
passed in review the 9th Regiment of the Line, drawn
up in line et battle on the square. His Majesty was
loudly cheered by the treeps and by the population.
"At 11 o'clock the Thya.l cortege arrived at Nice.
On the Vittoria•square a triumphal arch had been
erected, where the civil 'authorities, the Consular body,
and various officers of his Majesty's household were
waiting to receive him. An amphitheatre had been
erected on each side of the road, and contained a nurn
ber of ladies, who braved the bad weather to see the
display. All the houses in the town were decorated
and the windows full of spectators. On his Majesty's
arrival ho was enthusiastically cheered on all sides.
The Syndic addressed a speech to his Majesty, to
which he replied in a few gracious words, and the cortege
then proceeded to the Place des Phoc6ans, where the
National Guard and 10th Regiment of the Line were
reviewed.

" His Majesty then proceeded on horseback to the
Villa Avigdor, to pay a visit t) her Majesty the Em.
press of Russia. At 1 o'clock the King again mounted
his horse and proceed©d to his palace, where he received
the local authorities. In the evening the town was
brilliantly illuminated ; the illumination of the villa of
the Empress of Russia was magnificent. The King,
who drove about for a long time in an open oaleche, was
everywhere received with real enthusiasm."

The Times states, " The prospectus has been issued of
the British Agricultural Company, with a capital ( f
100,0001., in it. bharee. The objects are to supply
guaranteed manures, and to establish a depot for the sale
of all descriptions of agricultural implements, as well as
seeds, oilcake, and the various articles used in the feed-
ing of stock. A contract has been made with the Javel
Manure Company, of France, for the exclusive right to
sell their artificial guano in ingland and the colonies for
twenty-one years. Several certificates regarding the
properties of ,this manure accompany the prospectus,
some of which attribute qualities equal to Peruvian
guano, although it is much cheaper. It is a patent
manufacture from the cesspools and slaughter-houses of
Paris." The direction is composed of thoroughly prac-
tical men, and the analytical department is presided
over by Mr. John Mitchell, the eminent chemist.
The most important point in the commercial news
from America this week is the repudiation of the greater
part of the public debt of the State cf California. This '
debt amounts to 600,0001., and a considerable portion of
it is held in Europe. For some time there had been a
disposition to question its legality, and, the matter hav-
ing been brought before the Supreme Court of the State,
judgment bas been given that the bonds are unconstitu-
tional and void. According to the State Constitution,
the Legislature were prohibited from contracting any
liabilities exceeding, in the aggregate, 60,0001., but the
people and all the authorities have subsequently
ignored this provision, and allowed loans to be
negotiated which have reached to five times that
sum. Upon the subject being at length brought before
the Court it seems no other decision could have been
arrived at. No blame therefore can be thrown upon the
judges, and it is upon the people at large, as well as
upon every officer of the executive Government, that
the disgrace must fall if any advantage should be
taken of it. According to the newspapers and private
letters there is reason to anticipate that a law will be
passed to recognise the entire amount ; but this feeling
is not unanimous, the Sacramento Times and one
or two other journals being disposed to take the
opposite grouud. In concluding their judgment the
Supreme Court expressed a hope that the Legislature
will declare the debt to be valid at their approaching ses-
sion, make the necessary appropriations for the interest,
and submit their proceeding, to the people for ratifica-
tion at the next general election in September: Their
only objectionable remark was, that the holders had
come into possession of the bonds with the full know-
ledge of their worthlessness. The fact of their ourrency
at San Francisco and Nev York is evidence to the con-
trary, and under no circumstances can it be supposed
that the European purchasers had any idea of the tech•
nicality by which their claims could be vitiated. They
knew that the State took the value of them, and they
Idid not pause to inquire whether, through the agency of
its own courts, it .could subsequently escape from its
obligations,