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Hokitika Guardian, 9 November 1929, Page 4

The passage through the House of Representatives of the Bill providing for the establishment of a fund by members of the legal profession out of which persons who may lose money through the defalcations of a solicitor can be reimbursed, completes an important piece ' of legislation. It will go far to remove from the minds of people, who l -© moneys have been entrusted to a lawyer for investment, tbe feeling of apprehension that lias been excited when a case of misappropriation of funds lias occurred. Unfortunately the recent history of the legal profession in New Zealand, in outside centres, has demonstrated that not all solicitors are above reproach, and the law societies have taken a wise step in voluntarily proposing the provision of ft guarantee fund with a view both to the protection of the public against fraud and to the preservation of the honour of the pro-

fession. It is true that the existence of the fund will not discourage reckless dealings with trust accounts on the part of solicitors with a frail sense of probity. The reflection that their clients will not in any event suffer through a breach of trust on their part may even blunt such susceptibilities as they possess. Fortunately, however, the honour of the profession is jealously regarded by nearly all the practitioners and cases of dishonesty have been comparatively rare, and of course, the consequences to a practitioner himself of a wrongful ;c(inversion of funds entrusted to him will remain and serve, to some extent at least, as a deterrent of fraudulent action. Regarded from the point of view of those who confide their savings to lawyers for . investment, the legislation that has now been passed will fnlhl a very desirable purpose since it will accord to them absolutely essential security aginst an abuse of their trust.