18 JULY 1863, Page 3

The Partnership Law Amendment Bill went through com- mittee on

Wednesday, Mr. Hubbard and others, of course, raising a very needless panic about the extension of the prin- ciple of limited liability. To these alarmists Mr. Goschen, the member for London, gave a very effective reply. He said that the register of the limited sums for which part- ners in such concerns would hold themselves liable would, in fact, often be greatly to the advantage of creditors, instead of unfavourable to them. If two partners invest their whole fortunes, amounting together to 10,000/., and two others invest only 5,000/. each, not their whole fortunes, credit would be given to each concern for 10,0001. • but in the former case the creditors would not know exactly what each had provided. The effect of the register would be to intro- duce much more certainty as to the means of firms, to put an end to much vague guessing on the part of those who lent their money. The speech was eminently practical, and fully redeemed Mr. Goschen's reputation for lucid thought on economical and financial matters.