The Sun.
London, England, 1861-03-22 00:00:00

BETTING AT MANCHESTER-THURSDAY.

Dundee was not firm for the Derby to-day, 9 to 2 being
freely offered against him. Rouge Dragon was in much
request for this event, and all the 25's to 1 that could be
obtained were taken about him. Mhtador, about whom a
bet of 300 to 100 was booked for the " blue ribbon," was
supported for the Two Thousand Guineas Stakes at 100 to
9. 10 to 1 was offered on the field for the City and
Suburban Handicap, and Chance Shot was rather freely
supported for the same event, but 22 to 1 was the lowest
price that we saw taken. Butterfly and Sweet Hawthorn
were in much request for the Chester Cup, but no one
seemed disposed to make any offer against Chere Arnie.
100 to 8 was offered on the field for the Northamptonshire
Stakes. For the Great Metropolitan Stakes Betts would
have been supported, but 8 to 1 was the only bet we saw
taken, and that merely to a small sum, from which circum-
stance we are inclined to believe that there are but few
books opened on the last-named event. Closing prices :

NORTHAMPTONSHIRE STAKES.
12 to lon the field (offered)
CITY AND SITEURBAN.
10 to lon the field (offered)
100 to 8 agst First Lord (offered)
100 to 6 agst Industrious (offered)
22 to 1 agst Chance Shot (taken)
25 to 1 eget Dover (taken)
100 .o 3 agst Pancake (taken)
100 to 3 agst Sawcutter (taken)
100 to 3 agst Apollyon (taken)
METROPOLITAN HANDICAP.
Bto 1 agst Betts (taken)
CHESTER CUP. .
100 to 6 agst Butterfly (offered, take 20 to 1)
20 to 1 agst Wild Rose (taken)
25 to 1 agst Sweet Hawthorn (taken)
TWO THOUSAND GUINEAS.
6to 1 on the field (offered)
11 to 1 agst Matador (taken)
DERBY.
9to 2 agst Dundee (offered)
22 to 1 agst Dictator (offered)
25 to 1 agst Rouge Dragon (taken freely)
30 to 1 agst Matador (taken)
33 to 1 agst Kildonan (taken)

THE NEW BANKRUPTCY BILL.

The Bankruptcy Bill is receiving its last exami-
nation in detail by the Commons previous to being
sent forth from that house as an exposition of what
a law of debtor and creditor should be. It would be
premature to say that the measure as it now stands
is to be our law for the future.' It has to undergo
yet another ordeal, through which it will probably
not pass altogether unscathed. The Lords, how-
ever, are not likely to interfere with those parts of
the bill which are looked upon as most important
by the commercial classes ; nor is it probable that
any difference of opinion can arise between the
two houses which will be sufficient to prevent Sir
Richard Bethell's second bankruptey attempt from
becoming law. Fragmentary and imperfect as it
is, it is still a very considerable achievement for a
House of Commons at this early period of the ses-
sion, and, so far as we can judge of it with its pre-
sent rather unreadable manuscript corrections and
interpolations, it promises to satisfy all the imme-
diate exigencies of the commercial body.
It is undoubtedly a disadvantage, as Mr. Henley
last night complained, that this bill has not been
reprinted since it passad through committee. It
is scarcely possible as it now stands for any one to
retain a clear idea of the whole scope of the
amendments which have been made or to calcu-
late their action upon the working of the scheme
as originally proposed. We speak. therefore,
with a reservation when we say that the principal
objects for which it was prepared seem to be
attained by the measure as it came out of Com-
mittee and as it now appears. It simplifies the whole
of the proceedings in the collection and distribution
of an insolvent estate. It defines with what ,at
present appears to be sufficient precision the circum-
stances which shall justify a man's creditors in
takitg his property out of his hands and dividing
it to satisfy his debts. It separates the questions
of law which may arise as to the debtor's liabilities
from the inure administrative functions of collec-
tion and distribution. It creates a Judge who shall
' be the supreme authority as to the law, and it
allows to the creditors the control of the funds. It
makes wholesome provision for keeping down the
expense, and it relieves the estate from the unne-
cessary charges accumulated by the court func-
tionaries. These are in themselves very great
improvements upon the old system. But it also
provides machinery by which the small estate of a
bankrupt who has not soared into the higher, and,
as it seems to be considered, the more respectable,
atmosphere of debt, can be distributed without
being entirely consumed as fuel for the great steam-
engine which used to be set at work. Moreover,
it does all this without demanding any unreason-
able sacrifice from the public resources, and with-
out injustice to any one, except, perhaps, the County
Court Judges—those patient camels who are always
kneeling to take up more burdens, and who are
always being fed with promises which fail on their
way to performance.
All this is discernible in the Bill as it stands.
We hope to see it more clearly when its clauses
have fallen into rank, and have been duly drilled by
the Attorney-General and his adjutant, the Queen's
printer. Up to this point the Bill only undertakes
the humble but most useful office of making reco-
very by Bankruptcy as cheap and efficient as the
circumstances of the debtor's estate will admit. Up
to this also the House of Commons have placed
themselves with a simple faith under the guidance
of the Attorney-General. So, when Sir Richard
Bethell swept away' he whole absurdity of classed
certificates, and the medieval contrivance of punish-
ing an imprudent or
i fraudulent trader by an en-
forced condition of idleness, the House was still
ductile. When, moreover, for the first time, fraudu-
lent trading was made a criminal offence, no one
objected ; although some perhaps may have won-
dered why so noxious a crime should be touched so
tenderly, and why the power of the Judge to sen-
tence should be so very limited. All these divisions
of the Bill, however, passed with an unanimity and
good-will which we cannot too much commend, and
which we hope will be rewarded by the proof here-
after that the care of the draughtsman was equal
to the confidence reposed in him by the Legislature.
No serious fight took place until Sir Richard Bethell
passed out of the old domain of Bankruptcy, and un-
dertook to search all the kingdom through and bring
every one within its purview. This is the weak point
of the measure. We were the first to point out the
consequences which must arise from subjecting two
classes of different habits and necessities in relation
to their money arrangements to similar rules
in respect of their obligations ; and the mistake Sir
R. Bethell made in this matter caused the miscar-
riage of his former bill. Sir Hugh Cairns and Sir
George Bowyer have worked this subject in the
present session, and last night the Attorney-General,
under the pressure of their opposition, agreed that
a non-trader shall when abroad not be made a
bankrupt until some serious attempt has been made
to serve him with a notice that this contingency is
impending over him. The concession is not unrea-
sonable. It is no more than the Common Law
Procedure Act already enacts as a preliminary to
getting a judgment against a man who is absent
from the country. It is, however, some protection
against experimental lawyers of a certain caste,
and some safeguard against the easy gratification of