§ Order for Second Beading read.
§ SIR JOHN LUBBOCK, in moving that the Bill be now read a second time, said, he wished to explain that its object WHS simply to codify and consolidate the law relating to bills of exchange and promissory notes. It contained no new provisions; but it was a measure of great importance to mercantile men, for at present the law was scattered through some 20 Acts of Parliament, and nearly 3,000 legal decisions contained in law reports. Mercantile men were anxious that the law upon these subjects should be brought into a more convenient and accessible form. The Bill had been drafted by the Council of the Associated Chambers of Commerce and the Institute of Bankers, and was supported by the Society of Notaries. Last year it received the support of Sir John Holker, and this year it was backed by the hon. and learned Member for Launceston (Sir Hardinge Giffard), the hon. and learned Member for Southwark (Mr. Cohen), and other high legal authorities. It was road a second time last year, and, under all these circumstances, he hoped the House would consent to its being now read a second time. It was manifest that the clauses would require very considerable care and consideration; and he thought the best plan, if the House consented to the second reading, would be to refer the Bill to a Select Committee.
§ Motion made, and Question, "That the Bill be now read a second time,"—(Sir John Lubbock,)—put, and agreed to.
§ Bill read a second time, and committed to a Select Committee.