The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1849-10-16 00:00:00

LAW INTELLIGENCE.

TIIE NEW LAW OF BANKRUPTCY.—On Friday, the
new act (12 and 13 Victoria, cap. 106,) to amend and con-
solidate the laws relating to bankrupts, came into force.
Fiats are now abolished, and proceedings in bankruptcy
are to be commenced by " petition." Instead of £3O in
fees at the commencement of a case, £lO is to be paid in
stamp duty. Henceforth no trader can pass on his own
petition, unless he has a clear estate of ss. in the pound
for his creditors. There are some stringent provisions as
to the conduct of traders both before and after their bank-
ruptcy. Nine offences are specially set forth, such as con-
cealing and altering books, making away with property,
vexatiously incurring law expenses, or emitting to keep
proper accounts. An appeal is given to one of the Vice-
Chancellors in all matters of bankruptcy, especially with
reference to the allowance, suspension, or refusal of a
certificate. There are also provisions for arrangements of
a private character, under deeds, and the majority of cre-
ditors are to bind the minority. The new rules to regulate
the practice of the courts are expected to be shortly issued.

POLITICAL MISCELLANY.

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COLONIAL POLICY.—If the connection of the colonies
with Great Britain is to be made a mere matter of time
and convenience as to when it shall end, or how, then it
is of little use in hoping much, or thinking deeply, upon
what may be pregnant with such vast consequences to
England's race in America, and even America's own race
in it. A time, it would seem, which has taught Britons
to know what their institutions are worth must cost them
in America these institutions. A time which has exhibited,
during the principal settlement of the Canadas, the fall
alike of the political enthusiast and the fortress of the
despot in Europe, must cost, it seems, the colonies of that
Government which bore freedom aloft through the wild
storm. England has stood upon a rock, and after pointing
out to her colonies the wreck of human institutions, she
is about to push them off to share the fate she has taught
them so much to dread. If England has the heart to do
it, it must be done. Three millions of people will cease
to say " God save the Queen !" The sun will set upon
her empire. Full many an honest tear will be shed at
hearing that it must. Full many a heart will be torn from
what it would but too gladly die for. But the days of
chivalry are gone; the days of memory are fled. The
selfish, mercenary nineteenth century will be marked with
the loss of the best jewel in Britain's crown.—Blackwood's
Magazine.
MR. WISRAELI AT CASTLE HEDINGHAM.—The an-
nual meeting of the Agricultural Club for the Hundred of
Ilinchford, in North Essex, was held on Friday, at Castle
Eledingham, a small village about nine miles from Brain-
tree, on which occasion Mr. D'lsraeli, who happened to
be on a visit to Sir John Tyrell, attended the gathering,
and in a very lengthened speech entered into a compre-
hensive expositions of his views on political affairs. The
Hon. Member stated that he was for practical measures
and immediate exertions. He contended for an equitable
' adjustment of the burdens peculiar to rating property,
and explained to the meeting that by the unequal system
which at present obtained, the real property of England
had been pillaged since the peace to the amount of nine
millions a-year. He did not look for the repeal of the
malt tax or any other peculiar tax pressing on the agri-
cultural body as a comprehensive remedial measure; but
that which he deemed to be by far the most politic and
most advantageous for the country was, a reduction of the
national debt. In 23 years of war we had increased that
debt 630 millions ; while in 36 years of peace we had re-
duced it only one-eighth. The Hon. Member insisted
that a sinking fund ought to be established, for this
among other reasons, that if adopted it would force on a re-
construction of the financial resources of the country on a
rational and national principle. He said—" My opinion
is this—the case is urgent—Parliament ought scarcely to
be a week assembled without all England praying for the
institution of a sinking fund ; and my opinion is, that the
best and most practical—many as are the suggestions that
have been made to me—many as are the means that have
occurred to myself—my opinion is, that the best and most
practical way of obtaining it is, to lay an ad valorem duty
on all articles of foreign import whatsoever." He re-
minded the meeting in conclusion, that in Buckingham-
shire a society had been formed for the relief of real pro-
perty, and he called upon the men of Essex to follow the
example, and petition Parliament " to cease tampering
with the fiscal fortunes of England, which has been so
long indulged in." The hon. member for Bucks was
listened to with marked attention, and many of his obser-
vations were responded to by the vociferous cheers of the
meeting. Upwards of 200 persons were present. Ashurst
Magendie, Esq., president of the club, took the chair on
the occasion,