, 1875-08-21
THE MESSRS. COLLIE.
(From The Buliioniet.)

all the elements of the case before thew decid-
ed to institute criminal proceedings against
Mr.. Alexander Collie and his brother. The
prosecution may either bring great benefit to
the mercantile community, by putting a stop
to a dem0raIiSiur system, or 1t may become,
Indirectly, but not the less really, the means
of sanctioning and confirming the practice.
La order to do the former, it is necessary that
it should be made very plain that the prosecu-
ton has not been dictated by viGdictiye mo-
tives. 1t IS not pleasant to lose money, and
bank directors, especially if they can boast Of
q prosperous past, are no more willing to lose
it than other people. The London ana West
minister Bank has lost very heavily through
the Messrs. Collie. and the directors cannot
fail to feel angry and mortified in consequence.
Such feelings, however, ought not to be per-
mitted to influence them-OtherWise what may
be due to Justice will lack the show OF reason
by seeming to be accomplished only through
resentment The moral effect of the prosecu-
ton would then be very different from what
We should wish it to be. A revenge which
seeks lis qualification, for real or fancied inju-
ries, by employing the machinery of the law,
lacks that element Of daring and audacity
which may sometimes make the passion APP
pear respectable. 1t is possible to respect the
duellist who risks bis fife to protect his honour;
but to seek ,he help Of the agents of public
authority, not in order TO do justice or to re-
dress wrong, bat to crafty feelings Of wound
ed s~elF-I0ye, is altogether unworthy.
Assuming, however, as We must, that the
directors Of the London and Westminster
Bank have acted under a strong sense of duty,
both to their shareholders and to tbs mercan.
tile community Of which they are members,
two points immediately suggest themselves
for consideration. The first is one Of princi-
pie, and Tie second is one Of fact. The first
is involved in the question, whether the offence
Of which the MesSrs. Collie are accused is
criminal, is really fraud" which deserves to
be crimioaIly punishedl If it is, then were
the defendants guilty of it as a matter of fact?
The latter question will have to be answered
in the law courts, and 1t would be obviously
out of place to attempt to give an answer to
it here. We mast say, however, that the
prosecution seemed to have failed TO make out
a primd tacje ease at the GuiIdhall. The
evidence submitted 10 The magistrate was not
indicative Of fraudulent doings in the manner
that was expected. At this preliminary stage,
of course, Only elementary evidence can be
given, buJ the case against the prisoners was
altogether too general and indefinite. The
alleged fraud consisted in the uttering Of
bills of exchange which were purely Of an
accommodation character, and yet falsely
UtSCtID!Il% lueiu ~ bG genuine tldu5-DlIlSI III
respect of which "vaIue received was repre-
sentative Of real transactions.
This brings Us to the question Of principle
whether, namely, the employment of accommo-
dalion bills in this manner is fraudulent and
a crime before the law as we'll as before
morality. OF course it is morally indefensible
to represent to your bankers that accommo.
dation-biIls represent bond fde business trans.
actions. If marks and references are used for
the purpose Of deceiving and misleading the
bankers, then the offence is clearly-supposing
they are unaware or unSuspicious of tan
endeaVOur to obtain money under false preten-
oes. The words "yalue received" imply
that the bill in which they occur represents
real business, and therefore every acc9mmoda-
tion-bill is equally an offence against morality.
If, however, the bankers are made aware that
the words are, in any case, treated as merely
formal-if the customer, seeking to discount
his paper, should openly intimate that he offers
accommodation bills, it would seem that the
allegation of fraud could not be sustained.
We do not say it is desirable or defensible to
discount accommodation-bils at all, but, taking
men and things as we find them, it is obviously
absurd to say there is fraud IN discounring
them because they bear to represent "valua
received" The question, then, marrow, itself
to this-whether the ba ks diso1Unting accom-.
modation-bilIs ara misled by taose who offer
them representing them to be what they are
not2 In judging as to that, again, We must