The Sun.
London, England, 1819-03-12 00:00:00

FOR 'lug-

INSOLVENT DEBTORT ACT.

, MR. EDITOR,—Wben apublie clamour is rais-
ed against Legislative Euartntents in behilf of
misfortune, it may be permitted an individual,
who is conversant with the state of the Law

livretotore existing, to oiler some answer to the

objections made to its present operation.
The Law of DEBTOR and CREPITOR underwent
a lisvistois in Parliament about ten yeais ago,
for thi purpose of restraining that power of coer.
eion which Creditors were formerly enal4ed to
exercise in the arbitrary imprisonnient of their
Debtors, and which power was too fiequeutly
enforced upon the unsuppOrted Affidavit of irri-
tated individuals, Much to the prejudice and in-
jiffy of Debtors and their dependent families, and
ssith great detriment to the tights of other Cre-
ditors less prone to a spit it of resentment, and
more properly
,considerate of that forbearance
which would stimulate Debtors to exertion. The
present Act ,of • Parliament is the result of that
Revision, aided by the closest investigation which
evidence
_could support. One of the direct and
positive objects of the Act was to check ficti-
tious atidNinguarded Credit, and tbereby to afford
protection against losses to which Creditors were
previously liable by the intervention of occa-
sional Acts.
The existence of such a Law must epable Cre-
ditors and Debtors to judge of the consrquetices
of indiscreet Credit, .and,slishooesty it. contract-
itrg Debts; and, previous: to i•s enactments, they
had not the means of discripination ur preven-
*jolt which is ,now afforded them. if Creditors
ate abridged of the power and profit whichrfor-
Merly awaited their trading views, it is because
the power of optiOnal imprisonment is denied to
them, and -that they are disappoiuted in being no
longer. able, to extort money front friends as the
condition of releasing the Debtor.
.Observing that several Members in the House
of Commons are strenuously contending against
the renewal of the Act,, as injurious to commerce
and-rtmorality (of trade), whilst Candidates for time
110,01 hr of a Seat are required to pledge hostility
to such a renewal, I mast eXpress a hope, that
other Metni7ers, more disinterested in the quep-
lion, will not be wanting to' di,criminate accu-
roely between the Debtor and Creditor, and to
form a proper esiimate in balancing• the'accomint
bet een prosperity and misfortune. As rtsneets
the impediments which are in:the way.of making
thpse rapid fortunes inlrade of which we have so

mans; instances, I %Tonic! !hazard an opinion,

that the general we/frne of society is not thereby
injured, though the Speculator, in proEitabletraffic
may lltkl a claeck to his avidity, end obstructions

to his career of gain. And fmost here confess,
that ray deficieucy in arithmetical skill, -andalte
mysteries of trade, have created omit surprise
when contemplating the imutense pecuniary suc-
cess which has residted to individuals who coin-
. tnenced business with li!tle or no capital, and in
a.vey few years became possessed of wealth and,
impoetaoce.—llence, " Ennipages base blazed.
like Meteors, -and Villas have risen like Exhala;
*ions." And whilst minor Tradesmen have be-
come embarrassed and insolvent, in the pursuit
of honest indns'try, there have been ()thins who
used at the. rate of five or six thousands a-year,
and have been obliged to discover that they were
never worth a moiety of the suns, independent of
f dineions Credit. The present Insolvent Ait has
pat produced these effects, but, in my judgment,
has had a great tetaleticy to counteract
.. It 11% is been a subject of complaint' with many
.di.appoitsted Creditors, that the Dividends of In-
solsent Estates have been (tai s. and insignifi-
eant.—Granted, but would such Dividends have
been larger if this Act had nut existed ? Or was
it tinge advarvageous ,for- the general body of
Creditors when, under the old Law, a mercenary
individual obtained the Debtors' means by nerse-
cutiots, and the More compassionate Creditors
were thereby deprived of a particiPation its those
means ? And do not the Creditors frequently fore-
ga the opportunity of obtaining larger Dividends
by neglect or inattention to their rights under-
the Ata ?
IF fraud or concealment can be established
against a Debtor, the law in existence provides
a ptivislitutot tinder the power of remand for five
year. ; ih addition to which the Creditors inay,
as its other cases of fraud, proceed.by indictment,
if peaal severity - is preferred.—ln general cases
natter the Bankrupt Laws, the continued imprison-
meat of thy 'Debtor has been advantageous to the
Crednaar, in leading to disclosure and distribution,
anhough, its the recent case.of GEORGE PAGE, the
y Of death attaches to the capital offeuce of
conc. almeut. This case will probably excite corn-
passion even itt the breasts of those who are de-
cidedly t(i the measure of relief afforded by
the la3olvent Act ; fete in the discussions which
Live already taken place in Parisament, it has
keels ohsrevahle, that some who have been advo-
r,oe, for Crimitsals have beets inimical to Debtors,
w II not Say friends to crime, but estemies to
debt. With reference to a 'case lately putt, re-
soy, tine a legacy of '3OOOl. devised to a person
faking the benefit of the Insolvent Act, I cats say,
from personal knowledge, that if the Cs editors bad
pursued the legal remedy prescribed, they might
lave realized their expectations. That they have
vot_done so is no fault of the Ket , which has ra-
ther ettlargetl than restrained pievi.ous Proviaious
iatae,,ne.of Creditors asserting and pursuing their
last claims and I ".111 add my conviction, that
no one who has really considered the Act cats

Iru sly that ith deficient in Provisions for the
Iv3irAirir of hand or the protection of pro-

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"I be opinions of a highly distinguished legal Se-
natof-* havint; been adverted to in the public