FRIDAY, JULY 27, 1883. THE BANKRUPTCY LAW.

Manawatu Times, Volume VIII, Issue 325, 27 July 1883, Page 2

FRIDAY, JULY 27, 1883. THE BANKRUPTCY LAW.

— , — + It is to be hoped that an alteration wi'l bo made m the Bankruptcy law m one respect, viz., that allowing a debtor to keep furniture, &c, to the vaiue of £25. This has been made tho means of gross injustice iv the past. Men without a penny have piled up debts for furniture apparel, (fee., whjch after being' used a short time has greatly depreciated m value. Then, when the inevitable " file " occurred, they coolly took possession of the goods they had swindled tfteir creditors i

out of, and having- perhaps depreciated £100 worth of stuff to £25, or thereabouts, they taught the uninitiated the art of starting with nothing and being worth a good deal m a short time ! We think this provision should ba cut out of the bankruptcy law, and the whole question left to the creditors to de-t-ido, as to what the debtor should he given back. Where an honest bankruptcy occurs, creditors aacr c iv variably lenient. Where a dis* honest bankruptcy occurs, the debtor srrnuld be turned out with nothing bbt his tools. AYe uiay be told this would be hard on his family ! But are not the families of honest men suffering from poverty every day, being poorly clad, badly fed, living m draughty houses, badly furnished ? The law does not step m to save honest poor nien's families I'rom distrees ; why should it shelter the families of dishonest men, who squander thuir money m drink, billiards, and extravagances a,n< then file? The manner m which the bankruptcy laws are formed offers facilities t) dishonest men, and until they are made to suffer more for their dishonesty than they do now, trade will not be ov a proper footing.