1808.] to a Commission 
First, the writer observes, ‘* that un- 
der a composition, the creditor, or real 
ewner, is deprived of the use of his own 
capital, which is frequent'y a great in- 
eonvenience to some of the creditors;” 
vutis this the fact? In those parts of the 
country that [ am acquainted with, and 
in the metropolis where I reside, the cus- 
tom of looking into an insolvent person’s 
affairs is this: he states to a creditor, ge- 
rieraily a principal one, his situation, im 
concert with one-or more creditors ; an 
account, debtor and creditor, is taken of 
his concerns; and if every thing appears 
fair, the creditors hint to bim that it is a 
pity to break up his trade, distress his fa- 
mily, and throw him ald them on the 
world, if he can obtain good security, and 
some friend 3 jom him in negotiable notes 
or bills, payable at certain periods, they 
will propose it to the other creditors, and 
obtain his discharge. -This 1s the mode 
of settlement by compositien, practised 
in London; and as these notes and bills 
are negotiable, tacy are intended to as- 
sist, and ‘* not deprive the creditors of 
the use of their capital.” But liow are 
matters managed under a commission ? 
quite different, and contrary ; the dock- 
et is struck, the messenger sent in, the 
assignees chusen, and then-all the ef- 
fects of the bank: rupt are lodged at the 
bankers of the assignees, as soon as the 
atock is sold, the debts collected, and no 
dividend required by law forfour months; 
then the first dividend 1s made at the 
pleasure of the assignees, the second fol- 
lows a twelvemonth afterwards, and the 
third and fourth within seven or ten 
years; so that the “ real eapital of the 
creditors” is locked up ail this (mein the 
possession of the assigneess: but if the 
solicitor and assignees chuse to keep 
open the commission, and not make a 
final dividend, it is only stating some 
plausibly legal reason, and then the poor 
ereditors may wish and expect to receive 
areturn of “their capital,” but all to no 
purpose. 
Another reason givem by thig writer 
for preferring a commission r @ COmMpO- 
sition, is a very curious one indeed, and 
deserves the humane cousideration of 
every commercial man in the united king- 
dom; how it could enter mto the mind 
of any person, in times like these, espe-. 
cially any trading individual, to advocate 
it, is truly astonishing: it 1s this—** that 
w here a persou has been unsuccessful in 
his business, there is every reason to be- 
lieve he will became more involved, in 
of Bankruptcy. 583 
proportion to the length of time he con 
tinues to carry 1ton, a _and ‘ therefore he 
is Hot to expect credit from others, but 
supportand assistauce from his relations 
and intimate friends only.” When a 
unfortunate man becomes distressed or 
pinched for money, he generally flies for 
support and. assistance to his relations 
ang friends, im the first instance, so the 
they are generally the greatest suiferers ; 
but because they are so counected, are 
they always to support him? it is more 
likely, under a composition, they wali 
give him their friendly aid, by becomiag 
security, and in that way involving them- 
selves, to the great benefit of his y present 
creditors: but under a comm issign, they 
remain only sufferers in the first instance; 
and if the bankrupt has obtained his cer- 
tificate, are free to support him as they 
please, without running the great risk 
and hazard generally attendant on a 
composition. If “ relations and friends” 
are to come forward, as the witter ex- 
presses, alter a commission issues, they 
ought to become partners with the an 
on nt, and then ‘ others” may, to be 
sure, with greater safety and propriety 
trust him, How reasonable sich a pre- 
position as this is, let those that have 
been in that situé ation judge and deter- 
mine. 
For my own part, Iam a great enemy 
to commissions of bankrupt, ercegt in 
cases of actual necessity; not because 4 
distike the bankrupt laws, they are as 
mild, just, bumane, and equitable, as any 
that ean be eng acted ; my ohjection lies 
to the slovenly and disevacetul manner 
in which they are executed. What ts’ 
Guildhall on the days the commissioners 
meet, but a mere bear-varden? You may 
See from twenty to thirty Gommissivass 
working (as it is called) at the same 
tine ; perhaps one set of commissioners 
attending at nearly the same time on five 
or six. commissions, contradicting each 
others’ opinions. Besides all this, to what 
a nefarious pitch has the procuring and 
issuing of commissions of bankruptcy ari- 
sen !—It isa well-known fact, that there 
are attornies In this city, of mo Inconsi- 
derable practice, who have made their 
‘way from the lowest employments, by 
getting into their possession the unpais 
acceptance of .a distressed.tradesman, 
ee he cannot at present pay it, and 
fearful Jest he should raise friends to do 
it, pee this bill in the hands of a fricuds 
ly client, who strikes a docket, and af- 
terwards hunts for evidence to prove an 
act 
