The Daily Telegraph. SATURDAY, JANUARY 6, 1883.

Daily Telegraph (Napier), Issue 3584, 6 January 1883, Page 2

The Daily Telegraph. SATURDAY, JANUARY 6, 1883.

It is a standing and well-founded complaint that the bankruptcy laws are inefficient and practically unworkable, so far as the interests of the creditor are concerned. Merchant and retail trader, the leading tradesman and the petty huckster alike, all complain most bitterly of their bad debts. Unfortunately the prevailing notion in trade seems to be that unless credit is given it is impossible to do a, large business ; and, to a certain extent, this is true. But the fact is strained beyond all limit, and to an extent which bears heavily upon the consumer. The man avlio can and will pay for what he purchases has a double burden to bear—his own expenses, and, in a great measure, those of his fellows who do not cnoose to pay for their purchase-. It by no means follows that a tradesman anything like recoups himself for his bad debts from the pockets of his sound customers—happy man if he did—but it is undeniable that

prices woidd rule lower all round if the item _ " possible loss by bad debts " be dis- c pensedwith. So long as trade exists bad . debts must be incurred, and bankruptcies r cannot be avoided, but we contend ( that the basis of trade dealings may 1 be placed on a much sounder footing, i In the next session the bankruptcy law will t assuredly be amended. Such amendments "" should take the shape of treating with ad- ( ditional severity those who seek protection 1 in insolvency simply to rid themselves of 1 debts -willfully incurred. Doubtless mis- 1 fortune overtakes many, but when that_ is i the case creditors, as a rule, are not in- < clined to be harsh. AVo wish to 600 those f individuals who calmly let everyone m un- 1 partially, and then seek the protection of ' the Court, utterly disabused of the notion that such steps can be taken with impunity. The experience of the past by no means indicates that our legislators have successfully grappled with the question. They should give us more definitely tho meumng of '' obtaining goods by false pretences, or rather should clearly include in that term certain dealings which now take place, but arc, though equally reprehensible, just without the pale of tho law. Then, unless a certain dividend is paid, no discharge should be given. At the same time it seems inadvisable to declare a bankrupt incompetent to enter into any dealings whatever ; it is .simply making an utterly useless member of society of him. Another prolific source of evil is r the giving'of bills of sale—often for unknown future indebtedness—over evcrv precious stick the borrower has," or ever will have. How on earth is that man in a position to trade fairly t How about outside debts r Of coinse the holder of the bill of sale is quite right m securing himself so far as the law permits— indeed "it is his duty to do so—but it is rather hard on the outside creditor, so hard indeed that beyond question reform is needed in this matter. Proposals—very-ill-considered we think—have been made to do away with this species of security. Upon what principle one is to be allowed to pledge his freehold or leasehold property, but riot his goods and chattels, we are at a loss to conceive. As well prohibit tho sheepfarmer from pledging his year's clip, or mortgaging his stock. Debar the debtor from pledging after acquired property, and only permit him to give security for a present debt, and a step will have been taken in the right direction, for tho system of covering future indebtedness is often times a temptation to incur further debt. And, fm-themiore, should he afterwards file, if it can be shown that his affairs were hopelessly involved at the time of Ms giving such bill of sale, then let him be punished. The lender should no more be compelled to lose his advance than the mortgagee who holds security over the lauds. Then, as to that prolific source of evil, the credit system—the father of bad debts, and nearly related to the Bankruptcy Court— the period allowed by the law for the recovery of trade debts as between the retail trader and his customer should be greatly restricted. This, of course, is no new solution to the difficulty, but it is one by no means to be despised. It would prevent the man of small means becoming hopelessly involved, and of being driven to that embarrassing recourse of robbing Peter to pay Paul—in other words, raising the inevitable "fiver" to stop some angiy creditor's "gift of the gab." It would also have a healthy effect on the purses of the wealthier classes, who perhaps settle their bills once every eighteen months or so, but are not the less prone to grumble at the ruling prices, overlooking fact_ that their'own dilatoriness is in itself a weigh ty reason for them. If these various amendments, or something like them, be made, we shall gradually be delighted to find that, by paying cash, goods wall be sold at wonderfully cheap prices, and that even with short credit life will be less burdensome, because the bills will be modest, _ How much more freedom one will experiencesay at Christinas time—then than is felt now.

' There was a clcancharge sheet presented ' in the Resident Magistrate's Court this morning. Mr Maeallister, the Government Provincial District Auditor, arrived at Napier this morning by the steamer Manapouri from AA'ellingtou. The sub-committee appointed by the Borough Council to investigate the printing tenders met last night, but came to no conclusion, and adjourned till Monday at 7.00 p.m. The joint collection on Hospital Sunday in the Aglican Churches of Clyde and Frasertown ' realised £G 3s Gd, which amount has been duly received by the secretary of the hospital,'Mr Harker. The Napier Commercial Academy re- . opens on the 22nd instant. Mr J. A. Rearden announces that the school has been enlarged, and such extensive alterations and improvements effected that he is now prepared to receive additional scholars and ; pupil boarders. Mr Traeey, road overseer for the Hawke's Bay County, reports the completion of the road from fcuripapanga to Taruaruu, a distance of l-. 1 . miles. The completion of this section of the road opens the inland Patea district to wheel traffic, and now loaded drays can go from Napier to Messrs Birch's station. Telegrams from Gisborne state that the bore at the works of the South Pacific Petroleum Company is now down IGG feet, the ground is getting harder, and a, strongscent of petroleiun arises. In consequence of the rapid progress of the sinking, and the indications of ultimate success, tho shares in this company have risen ls lid during the past ten days. Messrs Murray, Roberts and Co., have requested us to mention that one of Osborne's reapers and binders will be exhibited at work in Mr Clarke's paddock, Hastings on Monday next, Bth instant, where those interested can see the machine and judge of its merits for themselves. AVo are informed that the operations of the Osborne reaper aud binder shown in working order at Kaikora yesterday were regarded as most satisfactory, the machine pcii'orming its work smoothly and well. During- the proceedings at the Hospital Committee meeting yesterday, Mr Miller was .speaking in warm terms of favor of AVairoa County, when the quest ion was put to him by another member; ''Didhe expect to be returned next time as member for AVairoa,'' to which Mr Miller promptly replied that "He did not know whether he should be returned at all or not," but added, "It was well known to everyone present that he had always taken a great interest in the AVairoa district." The reply, to say the least was significant. They have got something new to talkabout "in Auckland. The Star of Thursday week says :—The sensation in Queen-street to-day was a lady on a bicycle. She had not ventured upon so great an innovation as the bloomer costume, but wore the orthodox skirt, from beneath which, however, peeped a large display of red stockings. Business men raised their weary eves from the engrossing task, and as ■ they cast a. glance at the daring equestrienne, sighed "the world is progressing." The ladies of Napier have not gone qmtc so far as this yet, although we can boast of one who occasionally mounts a tricycle. There was some inward correspondence read at the meeting of the Hospital Committee yesterday, of which we were unable to obtain copies" for the purpose of publication, although Aye applied to the secretary for such. The fault, we should explain, does not rest with the latter official, who courteously allowed us to see all the documents in 'his possession ; but there were other »_l<l important commimioatious wliioh had been presented piecemeal to the committee, of which the secretary could supplyno information. AA r e camiot understand a member of the Committee forwarding and receiving letters and telegrams ostensibly on behalf of the institution, while for some reason or other he treats them as private correspondence. Mr Milncr Stephen (says a Gisborne contemporary) is not what some people fancy him to be—a crazy fanatic. For years he was a Supreme Court barrister in considerable practice in South Australia, Alotoria, and New South AVales; he was formerly Colonial Secretary and Acting-Governor of South Australia ; he is a, cousin of Sergeant Stephen, the eminent English barrister and commentator on the laws of England, and also brother of Sir Alfred Stephen, lately Chief Justice of New South AVales. Besides this he is a gentleman known among Ids own circle a." possessed of remarkable accomplishments, formerly a good cricketer and billiard player, and still a brilliant chess player, whist player, flutist, and amateur artist.

His Worship the Mayor remarked yesterday at the Hospital Committee meeting that Mr Sutton had been writing to the Government on the subject of the hospital, but ho (the Mayor) was not aware that Mr Sutton had been authorised to do so. Who author- " ised the Mayor to ask the Government to nominate members of the committee? AVlio authorised the Mayor to act aWffie Chairman of the Hospital Committee r\ He has never been elected to that position, so far as we can roako out from a referenco to the report, of the meetings. He was onco requested to occupy the chair in the absence of the charman, and he has since held the seat as a matter of right. Mr Sutton's letter to the Hon. Mr Dick drew from the Government a tolerably plain reply, but the communications that the Mayor has received havo invariably led to complications and dissatisfaction. It strikes us that, if to Mr Sutton had been left the correspondence, and if the Mayor had not assumed the position and authority of Chairman of the Committee, it would have been all the better for the Hospital. The Poverty Bay Standard acknowledges receipt of the Government Insurance Almanac for 1883 in the following terms, which are lughly suggestive of pleasant irony:—" AYe are indebted to the Government Insurance Department for the receipt of an annual almanac. The individual who designed it must have had comets on the brain, and had rather \m much of them. There is a well-developed\and moderately dressed girl perched upon tlite globe with a flag in her right hand, and a zjehnet en. her head, and a cart-wheel in hei' left hand. The flag, although bearing the words ' Honest Premiums,' ' Mutual Insurance,' and ' Government Security,' is big enough to drag half-a-dozen girls like the little one holding the banner into space. AYe use thii latter term advisedly, as from the point of her staff the comet appears to be shooting nor'.nor'-east by nor' slightly, whilst the lady's foot directs the illustrious stranger sou' - sou' - west and by sou', a little southerly, sir. Australia is represented by the head of a hippopotamus, and New Zealand by a bull-dog, with the head severed from the body, and a vanished tail. AA"o hope that the China plates (willow-pattern), at each corner, have nothing to do with the importation of Celestials, and that such a miserable production as the Government ance Almanac for 1883 will never again bo issued from the ' Head Office, Provincial Buildings, AVellington, N.Z." Of the many complaints in which Lctctopcptine has shown most prompt and decided success none have been more quickly relieved than the various forms of headache, including nervous and sick headache, which distressing complaints are in nine cases out of ten, due to inactive or sluggish liver, with constipated bowels. Lactopeptine can be obtained in handy bottles, with full instructions enclosed, of Professor Moore, Waipawa. —[Advt. ]