New national era. [volume] (Washington, D.C.) 1870-1874, 1873-10-02

w - ioCda %his " iisOU,
will supply our patrons in the First ward
with the New NATIONAL ERA AND CITI-
ZEN every week. lie will call for orders.
pD- DANIEL KEITH, JR., is our Agent for
baltimore. Residence I42 s. Caroline street
introductory Remark. by ID. A. Srsksr In .
Lecture ON Commercial Law before the
studenss OF the Commercial Busiaess
school Of Howard Usivsvstty, Corner Of
e,h and ID Ste. Wssh,"Gton, DC.
From a very early date in the history Of
man we may trace evidences Of negotiations
between man and his fellow, in matters of
purchase aud sale. The idea of valuable
consideration seemed to have been fully
known as early as the time OF Abraham,
-ince we find that he offers 400 shekels for
the cave OF Macpelah OF the sons of lIcth,
using the following language: " For as much
money as 1t is worth he shall give it me-"
This, although not in the strictest sense per-
tanning TO a mercantile business, evidences a
quds, mercantile transaction, and the thought
ia man OF negotiation aud money value for a
transfer OF articles. Ii would appear that
men advance in knowledge in proportion to
ciy..!z.ns Influences, and not in any particular
ACE. since We find that in the days of Joseph,
the son of Jacob, of old Testament otoriety,
there was complete system Of mercantile
transactions, as appears in the statement
that the sons of Jacob travelled from Canaan
TO Egypt, with money to buy corn. Yet we
find that later in the history of man by a
DEPRESSION Of civilization there is instead of
negotiation, pillage and warfare as the means
of obtaining property. But in the days of
our Saviour, when Rome and Greece were
famous for men of letters, we find the name
aud use oc the very mercantile instrument
which we to-day use and in a similar man
ner. II is remembered that our Lord in in
stancing the duty OF creditor to debtor on
general iorbcarancc in the failure of each
other, in the parable of the unjust steward,
uses the :D.lOwir, terms Take thy bill
and wIite ~" This was in all probability
an ns t.unent used IA cIi,"Bc" If debt.
Commerce, an the law pertaining 10 and
regulating ;ha same, has grown and i'm
proved in proportion to HE march OF civil
cation, aud ia no small degree may the civil
ization OF Il people be measured by the ex-
tent other commerce and the laws regulating
commercial business 50 that among a semi
civilized Icople little regard is paid to such
safeguards and facilities of commerce, rs we
find in the use Of bis and notes. Chanccl-
lor Kent quotes Posi-, who states that the
practice in the loan OF money in the early
times Of the Romans, was that the creditor
should send his slave to receive the loan, on
the arrival Of vessel which had been n.y.
pothecated by his master. But this state Of
things did not remain. In proportion to the
necessity Of man grew his intellect for inven-
ton, laws, and discovery; so that in the 18th
century the city Of Barcelona regulated by
ordinance the acceptance of bills of exchange,
and the use of them was made by the Lom-
bard merchants in the same century. This
statement is disputed by Blackstone, who
traces the use ofnegotable paper to the exile
of the Jews from England and France.
Considering the extensive circulation Of
money in the purchase of articles Of mer-
chandise and other things in different parts
Of the world, and at great distances, it Is
easy to see the Importance of mercantile law
and knowledge Of the rules govern ne the
instruments used in bills of exchange and
promssory notes, which greatly facilitate
commercial intercourse, as well as prevent
litigation ofparties who are ignorant of these
laws and become the dupes of designing men.
1t is idle and absurd to think that this
branch FLAW is within the exclusive province
Of the lawyer. 1t is the legitimate inheri-
lance of every literally educated man, and
does more to facilitate the clients cause
than an absence Of a knowlege of it would or
could. The learned commentator, Sir Will
liam blackstone, says: THAT every gentle
man purporting to have a liberal education
should know law in general, and the laws of
his county especially, IN intimate acquaint-
ance with commercial Law is essential to the
trader, who is every man having transactions
with his fellow-man in which one article is
exchanged for another, or money value
given for it," There are none so certain to
need this knowledge, as you, gentlemen.
The art Of bookkeeping is cemented in its
principles by Il ktOWIeuSc Oh nercaulle law,
since the majority Of the subjects you will
have to deal with comprises mercantile trans
actions, or matters of commerce. In COM
mencing my subject | shall treat first Ofnego-
table paper, its form and requisites, the rar-
ties, their capacity, the doctrine Of cOnstruc-
ton, wrongs and remedies, and all the laws
governing, endeavoring to avoid such techni-
calities which more properly belong to the
professional, aud would rather obscure than
eluciiate. Your attention will be also s.lled
in the cUursr ~ my lectures to the nature Of
bills ari notes, tie force Of the word. order
and Geare~,' drawer or maker, payee or
holder, drawce or aCccpt"r, indorscr and
indorsce, and the relation these parties bear
10 each other and their several joint liabili-
ties, the manner Of transfer by endorsement
blank or in full, the validity OF consideration,
and Of what parties consideration may be
inquired into, of notisS, of protest, of supra
protest OF acceptance, AID such other matters
as pertain to the subject.
shall also treat OF partnership and OF con-
tracts which i, a subject of paramount i'm