CANTERBURY.

Southland Times, Volume I, Issue 35, 20 August 1864, Page 2

CANTERBURY.

The Lyttelton Times, of 13th inst. presents its readers with the iollowing : — This being usually the dullest season of the year, the operations of trade are generally confined to very narrow limits, but during the past and previous months we have experienced a period of unusual depression and want of confidence. The failures of small traders and others kave been more numerous, and, combined with the ordinary flatness of trade at this time of the year, have greatly tended to induce extreme caution, in both buyers and sellers. As the spriug season advances, we look forward to increased activity, and a better feeling of credit. Our stoeksof s>U desci'iptions of merchandise are very heavy for so small a market, and will have to be worked off with great care and caution to prevent loss. The desire on the part of holders of stocks to realize, appears to have created a. system of extended credit, and to give undue facilities to persons with little or no capital to begin business upon the principle of "nothing to lose, all to •rnin ; " the result is that a swarm of small dealers have started into business upon the capital of others, the majority of whom stop payment upon the first due bill, find an easy mode of relief through our terribly defective insolvent laws, and in every way set their creditors at defiance. We are glad to see that the Chamber of Commerce at last recognises the necessity of some interference for the complete alteration of our present Debtor and Creditor Act. We should, however, have been better pleased if they had brought forward some practical suggestions to be embodied in any new Act which the Assembly might pass, as, in order to make an Insolvent Act complete, it should be framed upon the best commercial experience, as well as legal forms.