LORD BROUGHAMpresented a Bill, the object of which he stated to be to abolish the punishment of imprisonment for debt 5 to extend the laws relating to bankrupts to the case of non-traders, and to give further remedies to creditors for the purpose of securing the punishment of fraudulent debtors.
LORD CAMPBELLexpressed his approval of the objects which the noble and learned Lord proposed to effect, observing that the distinction between traders and non-traders was perfectly absurd, and that if there was a complete cessio bonorum upon the part of an insolvent to his creditors he ought not, in his opinion, to be subjected to imprisonment for debts which he had done everything in his power hoestly to discharge. He was also extremely glad to find that his noble and learned Friend proposed to direct his attention to the punishment of fraudulent debtors, whose reckless speculations in the hope of speedily obtaining immense wealth so frequently led to the ruin of unfortunate creditors. The facilities now afforded by the law for fraudulent trading was most demoralizing to the mercantile community.
LORD BROUGHAMsaid, he was happy to find that the Bill had the approval of his noble and learned Friend. For his own part, he entertained no doubt that it was calculated to be productive of very beneficial results, particularly of lessening those facilities for obtaining credit which were now afforded to such an extent by imprudent traders in the hope of securing customers.
§ Bill read la.