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Globe, Volume VI, Issue 620, 14 June 1876, Page 2

One of our morning contemporaries, in today’s issue, furnishes us with another reason why a stringent Insolvency Act should exist in this Colony. The several Chambers of Commerce, as of course might be expected, are fully alive to the importance of guarding the special interests of their members in the matter of buying and selling, and their petitions and suplications to the Legislature for protection are one of those things which year after year are the bugbear of Parliament. Insignificant insolvents, such as the one we refer to—viz, Henry Hebden, ironworker, with liabilities amounting to £163 I9s, and assets, nil —excepting wearing apparel and tools valued at £lo—do not appear to receive consideration from the mercantile magnates who affect to represent the true industrial interests of the community. It would almost appear that the small fry of bankrupts are beneath their consideration, and we strongly believe that it is this very small and comparatively unimportant portion of this unfortunate class that justifies the general desire for the appointment of an official assignee. We hope that, in any amended Act the Legislature may adopt, the appointment of such an officer shall form one of its principal features.