Star.
London, England, 1818-05-28 00:00:00

HOUSE OF COMMONS.

Mr. Marrimis, from the East India House, presented a
Copy of the Resolutions come to by the Court of Directed's, re.
speeting the Warrants for Pensikuts and Salaries granted by the
Company.—Ordered to lie on the table.
Mr.V. FITZGERALD announced it to be his intention not
to press, in the present Session, his Bill for regulating the Office
of County 'Treasurer in Ireland.
The Navy Prize Bin, the East India Marriages Bill, the
Negcelable Securities BW, and the Vinegar Duties Bill, were
serenity read a third time, and passed.
The Rock Salt Duty Bill was read a second time, and it then
went through a Committee.—The Report of the Committee
was ordered to be received to-morrow.
The Soldiers' Pensions Bill; the Greenwich Prize Morey
Bill, the Irish Exchequer Bale All, the Irish Treasury Bills
Bill, and the Irish County Intirmariee Bill, went through Corn-
nraittees, the Reports of which were ordered to be received to-
morrow.

The East India Shipping Bill was taken into further conside-
ration' re-committed, the Report received, and the Bill ordered
to be road a third time on Saturday.
Mr. CANNING presented a Petition frees the Watch and
each Makers of Liverpool, against the BM for regulating their
trade.—Ordered to lie on the table.
Mr. COURTNEY protested papers relative to) the origin
sad progress of the War in India.—Ordered to Ka on the table.
The Report of the Irish Auctions Bill was brought up and
agreed to, and the Bill ordered to be read a 3d time to-morrow.
On the motion of Mr. MORITT, the second reading of the
Mines' Assessment Bill was put off till that day three months.

BICHIIQUER BILLS.

Mr. MABERLY put a question to the Chancellor
d the Exchequer, to know whether he properly un-
derstood his reply to the Honourable Member for
Nottingham. He was reported to have said that he
should not resort to a Loan or Fumding neat
The Hen. Gentleman asked him likewise, whether
there would not be forty-four millions of Exchequer
Bills afloat at the end of the year ?
The CHANCELLOR of the EXCHEQUER said,
that there would be forty-one millions of Exchequer
Bills in circulation at the end of the year, besides
three millions lying in the Bank, making together
the sum mentioned by the Honourable Gentleman,
44,000,0001. and being considerably less than the
amount of thins* now in circulation. In reply to the
other part of the Hon. Gentleman's question, he bad
certainly said that he saw no probability of being
obliged to fund or to raise money by a Loan next
year, having funded 4 large a stun this year. This
autetnent was founded cru the great itriproyetuesst

which had taken place, and on the present flourish-
ing state of the Consolidated Fund. He added. the
Revenue was increasing at the rate of one hundred
'thousand pounds per week. The money market was
redundant, and the general state of the country
highly satisfactory. He had given no pledge, for
that in his official situation, would always be im-
proper, as he could not foresee what circumstances
might arise ; but he had stated truly, that he saw no ,
probability of being obliged to raise money next
year by Loan.
BRITISH SHISHITIG

General THORNTON called the attention of the
House to the Regulations under which the Public
were at present admitted to the British Museum.--
He shelved, that though persons who had lived a
good deal in the world- might find no difficulty in
gaining admission for purposes of study, yet those
who knew but little of the world were in effect ex-
chided by them. He suggested various alterations,
with a view of affording increased facilities to those
who wished. to be admitted for purposes of study,
and concluded by moving for the production of the
Regulations for general Admission to the Museum,
as also those for regulating the admissions to the
Reading Room, and to the Gallery of Antiquities.
Mr. BANKES set forth the importance of pre-
serving the objects deposited in the British Museum
in perfect security, and reminded the gallant General
that, at no distant period, persons who bad been ad.
mitted in the garb of inquirers had become
dators. If the alterations suggested by the icg=
General were adopted, an additional Offier and an
increased expense would be found necessary.
After a few words from Mr. GVILWET and Mr.
Wrusiz, the motion was agreed to.

• BANKRUPT LAWS.-
On bringing up the Report of the Committee on
the Bankrupt Laws,
Mr. JOHN SMITH spoke at great length on the
evils of the present system. In the last Session of
Parliament a Petition had been presented from a
large body of the commercial world, setting forth
the heavy grievances of which they had to complain
under the present Bankrupt Laws. These had been
proved by the evidence laid before the Committee,
land indeed he might say that new proofs had been
laid before them, stronger than any that could have
been anticipated, of the inefficacy of the measures
now in force. On this subject the Committee had
been assisted with the opinions cf several Gentlemen
of professional eminence and high character, and in
particular with those of Mr. Basil Montague, Mr.
Cooke, and Mr. Cullen. Mr. Montague had stated,
that in the City of London there were many person's
who made a trade of proving false debts before the
Commissioners of Bankrupts. Mr. Cooke had spoken
to the same effect, and Mr. Cullen had asserted the
majority of the Commissions of Bankruptcy to be
neither more nor less than conspiracies on the part of
the bankrupt and the petitioning creditor to defraud
all the rest of the bankrupt's creditors. He had also
the authority of the Lord Chancellor himself against
the existing Bankrupt Laws, as he shewed by refer-
ence to what had fallen fromhim on a case that came
before him in 1801. He described the course taken
by the Committee in conducting this inquiry. They
had first applied themselves to ascertain what de.
scription of persons were liable to the Bankrupt
Laws, and they had been of opinion that they ought
to extend to all persons in trade. They considered
all the acts of bankruptcy, or at least ninety-nine
out of every hundred, to be concerted, and they
wished to alter the law so that it should no longer be
in the power of an insolvent person to wipe off the
debts of the great body of his creditors at pleasure,
and pay his friends and maintain his family with their
property. To effect this, they thought it would be
well that an individual who was insolvent should no
longer be able to make a bankrupt of himself, but
that an insolvent trader should be compelled to lodge
a declaration, of insolvency with an officer authorized
to receive it. They also wished to provide that such
a person going abroad, not for the purpose of avoid-
ing his creditors, but about his business, *ould not
be considered to have committed an act of bank-
ruptcy. They thought it might be improper to de-
clare a man a bankrupt till his shop had been shut
up for seven days. One great grievance under the
present system arose from the imperfect manner in
which the bankrupts' property, books, and papers,
were at present secured. This he traced to the man-
ner in which the messengers employed for that pur-
pose were appointed. He was most anxious to have
it distinctly understood that whatever he might say
against the existing system generally, he did not in-
tend to cast any imputation on the Commissioners of
Bankruptcy. He knew they fiequently lamented
their inability to do justice, and for his part, all cir-
cumstances considered, he wondered at their doing
their duty so well. The scene of confusion in which
they were obliged to sit at Guildhall to prove debts,
subjected them to many inconveniences, and led to
constant perjury. In the Bill he should move for
leave to bring in, provision would be made for their
better, accommodation at Guildhall or elsewhere.
Among other improvements suggested by the Corn.
mittee, it was proposed that every' person intending
to prose a debt should be obliged to give notice to
the Commissioners four days before, and that a re-
gister should be regularly kept that would give the
public an opportunity of knowing what dividends
were made, and what certificates signed. At present
nothing was more common than for an individual to
prove a debt that he ought not to prove, but if this
should be discovered two minutes afterwards, the
Commissioners had no power to strike it out, or to
make any alteration, till they had petitioned the
Court of Chancery, In the measure he wished to
introduce, it was proposed to give them the power,
in such a case, of setting aside a fraudulent creditor.
In 1814, several active Members of that House had
, inquired into the state of the Bankrapt Laws in Scot-
land, and the result of their labours had been a Bill
which established a system there which was perfec-
tion itself, when compared with that which still ex-
isted In England. He continued to describe the evils
at present experienced under the Bankrupt Laws, and
stated that the Committee on them recommended
strongly—and this they considered the principal fea-
ture of the new plan—the appointment of a new offi-
cer, to be called an Agent, who should be chosen by I
the creditors, give security for his good conduct, and
receive com or salary for Eu services, always
subject to the ap• bbatiou of the Commissioners. It
would be the duty of this Agent to attend to the

whole of the proceedings that might take place in
Bankrupt cases under this Bill. He now came to no-
tice the most important evil complained of under the
present system—the ease with which dishonest bank-
rupts could obtain certificates. It appeared that they
could obtain them with greater ease than the honest
bankrupt could, as they were generally sure of the
co-operation of fraudulent creditors who proved pre-
tended debts to qualify them to sign the certificate.
To shew what the law was in this respect, he world,
state one fact. A bankrupt before the Commissioners
had been called upon to account for 17,0001. which
it was known he had but a few months be-
fore. He accounted reeoLedhundreds having mat
various purchases here and there, and the remainder
he confessed he had spent in follT and profligacy.
Yet the certificate of this man was signed, and as the
low. at present stood, he had a right to have it aireld
because be had spoken the truth. The sever/trail
the law which punished fraudulent bankrupts old.'
tally, he condemned, as he considered its very sear
sky to be the cause of their escaping punishment al-
together. He complained of the inadequate allow-
ance made to bankrupts, who co-operated with their
creditors in recovering their debts. A more libxral
allowance to honest bankrupts would be money wall
vent. The Committee thought it would be right to
allow the bankrupt, in some cases, five per cent. as
the Commissioners should approve, but in no castles
than two per cent. This, however, was to depend
altogether on the good conduct of the bankrupt, to
be decided upon by the Commissioners, and to apply
`only to cases where 2,0001.. or upwards should be re-
covered. After some further observations on the ne-
cessity of altering the law, and an exposition of the
abuses proved to be common in country bankruptcies,
the Honourable Gentleman concluded by moving for
leave to bring in a Bill to alter and amend the Bank-
rupt Laws.
Sir J. NEWPORT said the Committee conceived,
and with reason, that the present Bankrupt Laws
were worse than no laws at all, as they afforded pro-
tection only to the fraudulent, and enabled the frau-
dulent to cheat every honest man in the count' y.—
Some alteration hz held to be absolutely necessary.
Mr. WROTTESLEY complimented the Honour.
able Gentleman (Mr. Smith) on the great industry
and ability which he bad exerted in the inquiry. He
was of opinion that half the evil complained of would
be done away, if the Commissioners of Bankrupts
he

The CityofLondon: