At yesterday's sitting of the Grand Committee on Bankruptcy, opposition
was threatened in the interest of the country bankers
on a vital point of the Bill; and the Government are likely to be defeated on the point, unless mercantile men and the public generally bestir themselves. This point was the payment of money by trustees in bankruptcy to an account of the Board of Trade at the Bank of England. By having such an account, the Board of Trade hope to obtain a large balance, which will help materially to defray the expense of the new administra- tion in Bankruptcy, which may otherwise cost the country £30,000 to £40,000 a year. Balances, if accumulated, though each one of them is small, will amount to a large sum, so that the administration, if the clause passes, would be provided at little or no loss to the creditors in each case. The country bankers, however, will not let their interests be touched in the slightest degree, so that the Government, if the scheme is to be worked out, must either impose new charges on creditors, or face a new burden on the Exchequer. The drift of the Com- mittee on this point is as unintelligible, on the supposition that they want a good Bill, as it is unfortunate.
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