THE BANKRUPTCY ACT.

Wairarapa Daily Times, Volume XII, Issue 3852, 8 July 1891, Page 2

THE BANKRUPTCY ACT.

1707 el Suggestions for Amendment. The following communication from Mr Joseph Heatley, of Dunedm, was presented to the Masterton Borough Council last evening : Sik.—The results of the Bankruptcy Laws, as at present administered, are wholly unsatisfactory, and a complete reform is urgently called for. The progress of tha Colony is crippled, more than appears on first reflection, by the easy treatment of the incompetent, the extravagant.and dishonest receive when bankrupt. Owing to losses thus caused, any legitimate enterprise requiring money has an almost" prohibitive price charged. If ever any Union, in these days of Unions, deserves to be supported, most certainly one of the solvent and industrious— on which class alone the prosperity of a country depends ought to be promptly established. Should any of the following suggestions commend themselves, I ask your co-operation to bring the principals therein contained as early as possible. SUGGESTIONS FOE NEW BANKUPTCY ACT. 1, No debt to be recoverable at law except from persons whose names appear on a public roll. 2. Each person to have the option of signing or withholding his or her name from such roll.

3. After the completion of the roll, copies to be furnished to the public at nominal cost.

4. In case ot failure on the part of any person enrolled, to make full payment of debts, the debtor shall be tried before an appointed board. This board shall have similar powers to the tribunal before which a captain appears when he loses or imperils his vessel.

5. All burden of proof as to cause of failure to be thrown on the debtor. The letter wus dealt with in a very summary manner. The Mayor aptly remarked, "The man's mad," and the communication was laid on the table.