HC Deb 17 July 1856 vol 143 cc1005-6

Order for Committee read.

Motion made, and Question proposed, "That Mr. Speaker do now leave the chair."

MR. WHITESIDE

said, that one effect of pasing the Bill might be to interfere between the Master of the Rolls in Ireland and Mr. James Sadleir, whose effects had, he understood, been seized on their way to furnish a villa at some place unknown. It was contrary to all sound principle to enact a law to meet such a case as that of the Tipperary Bank. It was his belief that it was a measure introduced for a particular purpose, and he was of opinion that it was calculated unfairly to prejudice the interests of the smaller class of farmers who had been made the victims of the unparalleled frauds of the Sadleirs in the case of the Tipperary Bank, for those men would probably know nothing of the person who was to be allowed as their representative, to dispose as he might please of their rights. He should move that the House resolve itself into a Committee on the Bill on that day three months.

Amendment proposed, to leave out from the word "That" to the end of the Question, in order to add the words "this House will, upon this day three months, resolve itself into the said Committee" instead thereof.

MR. MALINS

said, he could deny that the object of the Bill was to enable the shareholders of the bank to avoid the payment of their debts; its object was, in fact, the very reverse. The truth was, that a vast number of actions had already been commenced, and if the Bill were rejected all the assets would be swallowed up in law expenses. The carrying out of the provisions would be dependent on the Master of the Rolls in Ireland, whom the hon. and learned Gentleman had so much and so justly lauded. He regretted that the hon. and learned Gentleman had so little confidence in the tribunals of his own country. Unless he (Mr. Malins) had known that the Bill was one for the benefit of the creditors—3,000 in number—he would have had nothing to do with it. The simple object of the Bill was to enable shareholders who had property to make a surrender of it, and then to obtain a discharge.

MR. HENLEY

said, although the hon. and learned Gentleman (Mr. Malins) represented the Bill as a creditors' Bill, it was remarkable that it did not give the creditors any hold on the property of their debtors. The effect of passing the Bill would be, that the creditors would be induced to accept a small dividend, and very soon parties who had declared that they had next to nothing would hold up their heads again, and appear as well off as ever. He was strongly opposed to the measure, and he thought it most ill judged, in the midst of a gigantic swindle, such as that which had just been perpetrated in Ireland, to step in, and by a legislative enactment, reverse the position of the parties.

Question put, "That the words proposed to be left out stand part of the Question."

The House divided:—Ayes 31; Noes 40: Majority 9.

Words added.

Main Question, as amended, put, and agreed to.

Bill put off for three months.

Notice taken, that Forty Members were not present; House counted; and Forty Members not being present,

The House was adjourned at a quarter before Three o'clock.