BANKRUPTCY ACCORDING TO CHARLES LAMB.

Temuka Leader, Issue 1147, 11 September 1883, Page 3

BANKRUPTCY ACCORDING TO CHARLES LAMB.

Just now, says a contemporary, while Parliament is in the mortal throes of remodelling the Bankruptcy Act, it will be interesting to reproduce Elia's sentiments on the subject. Writing to Bernard Barton en December 8, 1829, he says : "I will tell you, honestly, that it has long been my deliberate judgment that all bankrupts ought to be hanged. The pity of mankind has for ages run in a wrong channel, and has been diverted from poor creditors to scoundrel debtors. I know all the topics—that distress may come upon an honest man without his fault; that the failure of one that he trusted was his calamity, etc. Then let both be hanged. Oh, how careful this would make traders ! These are my deliberate thoughts after years of experience in matters of trade. What a world of trouble it would have saved you if friend ■ had been immediately hanged, without benefit of clergy, which (being a Quaker J I presume he could not reasonably insist upon. Why, after slaving twelve months in your assign business, you will be able to declare 7d in the pound in all human probability. B. 8., he should be hanged. Trade will never flourish in this land till such a law is established. I write big, not to save ink, but eyes, mine having been troubled with reading through three volumes of old Fuller in almost as few days, and I went to bed last night in an agony, and am writing with a vial of eye-water before me, alternately dipping in vial and inkstand. This may ioflame my zeal against bankrupts ; but it was my speculation when I could see better. Half the world's misery (Eden else) is owing to want of money, and all that is owing to bankrupts. I dechre I would, if the State wanted practitioners, turn hangman myself, and should have great pleasure in hanging the first bankrnpt after my salutary law had been established." This outburst would probably have been even more violent if delivered to-day. The Standing Committee on trade at Home have pronounced in favor of a clause that a compounding debtor shall not be entitled to a discharge on payment of less than 5s in the pound.