Symud i'r prif gynnwys
Cuddio Rhestr Erthyglau

19 erthygl ar y dudalen hon

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I TOPICS OF THE DAY. I

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Newyddion
Dyfynnu
Rhannu

THE new Bankruptcy Act has now been in operatiqn fpr twelve months, and it is highly'gratifying to find that it has realised the high anticipations that were held of it. A report made at the end of the first quarter's working showed that there had been a great reduction in the number of bankruptcies, but it was very reasonably urged that this was due to the large number of cases that had been rushed through just before the expiring o of the old Act, the fear being that defaulters would have a harder time of it under the provisions of the new Act provi & This will in some degree affect the c statistics for the whole year;, but it'is absurd to suppose that it is' suffi-ei-ent to-account for the' great difference made manifest by the fact that for the past 12 months the number of bankrupts gazetted in England and Wales was 3,721 only, as compared with 10,183 for 1883. If last year had been one of brisk trade it might have been urged that that made all the difference, but such hasnot been the case. Complaints as to the state of trade have been as loud and as numerous in 1884 as in 1883, and in the ordinary course of things we might have counted on the usually large crop of bankruptcies. But in the light of the great decrease, shown by the figures we have quoted, the new Act may fairly be credited with the improvement. It is asserted by those who are disposed to decry the new law that if there have been fewer bankruptcies gazetted, there have been more private arrangements with creditors. There is some question whether this is so, but admitting it to be the case, it maybe taken for granted that these arrangement have been much more bene- ficial to creditors than the ordinary run of bankruptcies under the old Act. It is matter for congratulation when the com- munity exhibits signs of commercial and of physical health and that law is a good one which tends in either direction.

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