CHRISTCHURCH.

West Coast Times, Issue 680, 28 November 1867, Page 2

CHRISTCHURCH.

The " Lyttelton Times" of Saturday last reports : — The. business operation? of fche past week have been upon a very limited scale, nnd confined entirely to goods f>r immediate consumption. Although .retailers' stocks arc very moderate, no disposition is shown to increase them, but tho greatest caution is used in making purchases. This state of affairs, while it greatly limits fche amount of business done for the present time, places tho transactions actually completed upon a much safer footing than before. There is a much better and sounder feeling as regards credit, and failures have now greatly decreased. The new Bankruptcy Act, which, we belie vo, comes into operation-on the Ist proximo, is of such a nature as will render failing less easy than heretofore, and place a check upon the operations of tho dishonest trader. There is one portion of the act which has not given satisfaction ; ifc is in the greatly increased maintenance money required to be paid for the detention of prisoners in gaol, as it has the effect of virtually doing away with imprisonment for debt except where the creditor is sufficiently wealthy to punish the debtor, at a very heavy charge.