HC Deb 09 August 1881 vol 264 cc1461-3

Order for Second Reading read.

SIR JOHN LUBBOCK, in moving that the Bill be now read a second time, explained that it was entirely one of consolidation and codification. At present the law relating to Bills of Exchange was scattered over more than 20 Acts of Parliament, and there had been decisions in nearly 2,000 cases. Under those circumstances, the commercial community had long been anxious that the law should be condensed and brought together in a more accessible form. He did not propose to go beyond the second reading of the Bill in the present Session; but he should be glad if the House would consent to the second reading, so that he might be able to bring the measure more prominently before the commercial public during the Recess. He would not trouble the House with any further remarks. He would only say, in conclusion, that the present Bill had been prepared at the instance of the Associated Chambers of Commerce and the Institute of Bankers, and had been carefully examined by high legal authorities.

Motion made, and Question proposed, "That the Bill be now read a second time."—(Sir John Lubbock.)

THE ATTORNEY GENERAL (Sir HENRY JAMES)

said, he intended to assent to the Motion; but it must be perfectly understood that he did so on the assumption that the Bill, which was an important measure and dealt with the consolidation of the law, was proceeded with no further in the present Session. He understood that his hon. Friend only desired now to call the attention of the commercial world to the subject, and that he did not propose to go beyond the second reading of the Bill. On the part of the Government, he (Sir Henry James) had no objection to that course being taken.

MR. RYLANDS

said, he did not rise for the purpose of opposing the Motion for the second reading of the Bill; but he was quite aware that there were points in the matter which were open to considerable discussion. He therefore wished it to be distinctly understood that, in assenting to the second reading, neither Her Majesty's Government nor any independent Member were giving their assent or approval to all the provisions which were contained in the measure.

MR. MAGNIAC

remarked, that he should like to enter a caveat upon one point referred to by the hon. Baronet who moved the second reading of the Bill (Sir John Lubbock). His hon. Friend said that the Bill had the approval of the Associated Chambers of Commerce and the Institute of Bankers of London. Now, it ought to be known that the bankers of London had nothing to do with any Chamber of Commerce; and whether it was known to the Associated Chambers of Commerce or not, he (Mr. Magniac) was quite clear that it was utterly unknown to the merchants of London. It would, therefore, be well to read the Bill a second time, so that its provisions might be made known generally. But while he supported the proposal to read the Bill a second time, he hoped it would be understood that he did not in any way commit himself to any principle contained in it.

MR. R. N. FOWLER

said, his hon. Friend the Member for Bedford (Mr. Magniac), who had just sat down, said there was no Chamber of Commerce in London. That was quite true; but there was an Institute of Bankers in London, of which his hon. Friend in charge of the Bill (Sir John Lubbock) was President, and they took great interest in the measure. But, of course, in a Bill of considerable length there would be points of detail which would require discussion, and which it would be open to the House to consider next Session. He was very glad that the House was likely to read the Bill a second time. He hoped it would take the same course next Session, so that an opportunity might be afforded of considering the provisions of the measure in Committee, where every point connected with them could be raised.

MR. WHITLEY

said, he would not oppose the second reading of the Bill on the understanding that, after it had been read a second time, it would be carried no further. He had intended to oppose the Bill; but on that understanding he would withdraw his opposition. Up to the present time, the bankers and merchants of Liverpool had had no opportunity of knowing anything about the measure. He thought it was one which he should be glad to support in another Session, if the simple object of the Bill was to codify the various Acts of Parliament which relate to Bills of Exchange. In the meantime, it would be understood that in assenting to the second reading the House did not commit itself in any way to an approval of the principle of the Bill.

SIR JOHN LUBBOCK

remarked that, as he had already explained, the principle of the Bill was simply to codify and consolidate the law in regard to Bills of Exchange and bring it together. He understood that his hon. Friend the Member for Liverpool (Mr. Whitley) did not object to that. All the details of the measure could be discussed in Committee. He thanked the House for the reception which had been given to the Bill.

Question put, and agreed to.

Bill read a second time, and committed for To-morrow.