§ Mr. John Smithobserved, that in calling the attention of the House to the present state of the Bankruptcy Laws, he had to remind those gentlemen who sat in the last parliament, that the measure which he had now to propose, was not altogether new. A bill containing nearly the same provisions as that which he should have the honour to move for leave to introduce, he had before submitted to the? House, and it had met with its approbation. It had, however, failed of success in the other House. In bringing it once more under consideration, he should not deem it necessary, at this stage of the proceeding, to go into a minute exposition of all its parts. He would refer shortly to one or two of its principal objects, and state the more important evils which 589 it was designed to remedy. One of the chief was, the danger and difficulty to which the commissioners were themselves exposed. It was also most desirable to adopt some means of putting an end to the frauds so often practised in obtaining certificates. He flattered himself that the measure in question would interpose some obstacles in the way of these fraudulent proceedings, while it would, at the same time, contain provisions for the security of the unfortunate and innocent bankrupt. His view was, indeed, to have the bankrupt laws, as they stood, duly enforced, especially for the protection of honest bankrupts, being thoroughly convinced, from long observation, that from the prevalent perversion of the law, honesty was the worst policy in a bankrupt. The hon. member concluded with moving, "that leave be given to bring in a bill to amend the laws relating to bankrupts."
§ Leave was given; and the bill was brought in and read a first time.