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    RUS&IA; INcTHB EAGlFlQ. Theeb has been- ...

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  • Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.

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    - Adulteration Of Credit. A Defence Coul...

    ^^^ j ^^ pg ^^ d ^ mei ?; to reap ffiibke , i & iigmaty prdfifs' h ®^ rushes mto various trad ^^ v ^ eh ^ ove iyiuS * egy iHetwas l 2 , 000 Z . inv ^ e ^^; b ^ thatri ? ^ 0 can H ^ ito ^/ # r a ^ d ! He roes so fop itve years , ap-^ cp ^^ ih ^^^^ f 40 , 000 / . sUyear . We jftpj-ai ? paa * 0 jitly ^ | b ! t : e ven , the-reckless ; borrows 3 j ^ s ? iiii # selfSotably * delus ion . He " fails' * ^^ 6 & 0 OO £ i . biafc pfnthat he owes 2 S , OOO 2 , as J ^ pride d £ ^ 6 i * o-V 9 SBg ^ e iJest .. ) The : profitr

    atjfe speculation was a figment ; the debt ii ^&^ ^ j ^ e ^ Tfc and Ij ^ : ^ bl ^ j > rcw 0 s t ( 6 be aflam . ¦ ¦• : , J v 3 For iifere tlie , law steps in , and says that if 5 to ^' 9 Q ^ efi ^ K % -2 ' ' oa ? anyClike ^ him / xeally have proin & ei & itd pay more than' they can , they . sh ^ ibepealledj bankrupt , or insolvent , and not Jf & Sn '^ iSEheV privilege of annulling promises is . ^ m ^ efe . 'fcd ¦ - * ? vJast ; extent—millions sterling -. are , ' annually wiped out . Having begun by declaring ; thate the promises ; shall be

    per-# Hftriedithe I law ends > by declaring that it is in ^ erablej , 4 nd oppressive to enforce them ; p & t ] $ i ? Wil ) & $ prbVe ; W : rberwithout any siib « ^ iiaiaai ^ 'basisior -meslns of realising , they shall ¦ Jte" « anceILedv Arid having established the prin . ciplef of enforcemerit -4 . a " protection " ^ uader ^ wfcieh genuine- credit is extended in-Meftaiteiy ^ b ^ ' a' ^ ^ faise . Gredatr- ? the law . estafblislies a wide , and complicated machinery throughout ' the country , called bankruptcy ^ rid insolvency courts , to extinguish : the debts wMeh it nasirjpalled into being , and to cancel 3 ts < - € H * w ~ creation ! And that is deemed

    e'eonomy ! r ; . ; r ^^/ pbwer of dealing in false credit being . egfeftuBaedyifoe traffic flourishes . Epr , observe , if'lenBBefs contributeto that enormous bankrupt waste ? every year , if borrowers " fail / 7 the agents of the loans can make both parties pay- ^ the borrowerTorthe ** accommodation , " the lender'fore the opportunity to make the tzaainc & . -i * *; : '•¦ ' - ' ''¦ " Vi " - ¦ ¦ •<¦•'¦ ' ¦ . ¦ ' ¦ ¦ ' ¦¦ to

    J' # Mr ; ^ nJGtwants some money ^& 31 illk . 3 $ Hdmmt < Gob i GaiiKByr ^ a gentleman witfb . - property , i & lahdfbnt greatly encumbfereia ^ isfhi ^ 'SiecoQfityi ; Tw o ? lenders > are found tO'lenS- t ^ e-moiiey ¦> Kinro takes it , and then disappears . '¦ ; The loan not being < ¦ returned , thelejttdefS' then ; come- 'U pon the . securities ; anU it is theft discovered that the landed property «& Y Mrl- CoiiPE is i so 1 encumbered ; - that mfac ^ it 4 sguarantedf 6 r ; a ^ er ^ sman portion of ^ 'the idebjbiM Mrc .-GftAJEBiga- brought : before

    the OiiniirialHOdurt , proj-riflpited fdrither false preitexfeXoBP whichMheJigaV i * fhis I sefeuri ^ y , but unanimously acquitted , bjr the . jiiryv with the remark . tAiatrthe p " roBfecution wiqis unjustifiable High land Sstdkciii and ^ aomething remained : preivthe riiiortgagesstowards repayment of the lban / ' but / rtheiriel Were -other ijrarfcies torthe trausactdon . 1 i-Ia- some way , which is not perr t eiJti y dear , ' aim insurance-company had stood between / the bqrrower and the lenders * and owfeyof We dban aiiadvance by the qotapapy the

    W » s repaid . * Way ^ r . / (' managing director of thar > company ^ was the - lawyer employed to ittake -dpcjuirdes 'iatbl' the sufficiency of the aeoTiritieai ajadihe adamtted 'before ^ he judges tbat , in < juirymighi ^ easilyhavo ; ascertained the ooBdxbionXof ; Tyfaj XDoafje ' s rproperty ; yet ! . he had & O 0 guineas for hia trouble and expenses . b ' t itDhe i isolioitoB ) iwh ' o ; t-ntiide 1 these ; ifruitless inqfuiries had just received a tesfcimomal inthe Bhape ofuiOOO ? . jJ « iveni 4 ^ ithe . Bolicitor for his

    zeal and ability ^ il a , gift ; equally , to thie credit of himself , ( and oft ; th © , vi » s » ranciE > oJBBce which has ar f oblibitor- worthy ofi suol f iaitesiiimonjial ' Indeed , the inovaleflfecfc of < jhese testimonials ialio obvious . and considerable ^ : tihat tluey , are quite the fashipnjHiBtnoiWiWd ^ iQy probably Jliiting into , existence a degree Jot" < crejlifcj y ^ ry aid ^ fentageoua t 9 Juaumuoe cowponiea and i ^^ rc JtradiiigcbpdieB . : H * wcnald beintereatiwoto kftow . how : wftny hwwdreds of ; thouoaSdiB ai * e : annually transferred in loans that

    are jnot to ; b ^ . reoaidr ^« ums : tltfbwn ^ iritofthe overflowing cauldrbn - 'of f ^ bankwptcyi : ' ; every year ; and what : Isums , ; ^ oj {; ; liostiby tbJereci * - pientSj are paid foivinqiiiries in such ? casesi ¦ But in this plaM recitalr of tfaatayifc appears to us we have established the gra'dation between the ; first > adulteration of trader and ! credit arid the last results . IitfOBBziA . Bobgia andiGo-i who supply copper < in . lieu- of tomata colourthan

    ing matter , do not better but worse DikvrDsON and OfteDbN , who give- spelter warrants that : represent- jio shelter ; ' while A ., who buys' of a butcher without means . of ; paying , does exacctly the same -in . Principle as EiNflrj ; -whose security is as visioriary as G- (> E » o ^ s metal . SiteAHAN , ' Pa ^ Ii , and G 6 ' . really lodged seeturitiesu-vfith lenders—ronly ' they were other persons' securities ; but that was not a inore direct mode of'taking people ' s \

    property : without leave thari > if . nobney was taken , in the name of spelter where there is no spelterj in the name of grease wheria there is chalk , in the name of inquiries when there is no effective inquiry , in : the : name ! of tomata when there : is copper ? in -the- ham ©; : < Jf -rfri estate at Maldorirwhen . ; the estate has passed to t another * . If X igeti a man to advance moriey « ri' a > bnlrepresenting a debt which a third party is supposed ! to owe * and I _ have no reason to believe that ; -third party will or can p avL I bnly apply the same principle .

    And when the law promises to entbrde debts , and then releases thein * in the , name : of bankruptcy ; bi ? inaolvencyit the law itself does but act on the Patte principle ; The / pretendea principle is bne thing , the practice' another . The ' system is so much worse than Btkamatx sLnd Co . that it involves homeat and dishonest alike , leaves " papejr" in the hands of an unconscious aceoinplicei . to ; pass -it'toni , drags friends autt , connexions .: . thrbrigh common humanity into the vortex ** aridicoerces tradesman and customer ' tonfall . in with ; tyrarit

    usag & "Whatever , the . ^ pedantry / of ; and morality may sayr ^ brtbJodbx morality winks at any irregularity that can manage to [ escape detectionMn "the ^ " " fast" life of our ; day , iand the- 'Statute -Iid # deliberately ' provides plans for itsi own breach ! ^ Such is the result when iLegishxtiorii' professes to substi * tute protection for Free-trade : iri credit , tfells the lendeij that h ' eriia . y lay ! vigilance aside * and teaches , alL to'consider , tprobityand ini * probity' on ; a level- of equalifcy ihefore the IJaw Merchant . - <\ a . ; in . tt . ¦• ' < , ;• - ¦ , < ¦/ -v ' . -. !> -. ¦? . /¦ . ' > . ¦ ¦ : <> . ' A \ ¦ ¦ ¦ > . :, r' - ; ' \ V ' < i 1 U ^ -. V ! , V . 'VM , ' . ~ 1 : . - < r . ' , : u ;'

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    Rus&Ia; Incthb Eaglflq. Theeb Has Been- ...

    RUS & IA ; INcTHB EAGlFlQ . Theeb has been- & igr . oving' danger ; iia ! the North Pacific .. Q Dhe BUssiatisy established at Behring ' sj 1 Straits , ; at OPetropaulotvak'i i / 1 and upon the' Amobr , have been long-engaged in ; preparing fosi a great dpvelopinenit ; of power -in Eastern > Asia , ; 1 : If the . hr ! actual ( possessions jn be examine it ^

    that quarter / of tho ^ lobe . d ^ p U b 0 > found thalj , in themselves ^ they are nlo ^ of much value . It has been the traditional policy of : thonC ^ ara ^ however ^ to acquire < in t } ie first plaoe . territories , whibh otihbr iG'OVbrnnients would not ; care , to dispute , . and these serve as averiuostb ' rielier ^ domioionsl ; illipdn thig pririciple thef blood * of ; armies , and-large draughts fromi the ; Exchequer , ( have 'been lavished tq secure the wastes mid Solitudes of Tttrtrtry , the' prplifib breeding-ground tff f

    naiarbia . ^ natibna * A treble , objecfct is thus gained . TJUetbones . and | sinev ^ Bilof ; 'the , desert « ace > , thd .- cheap ; levies > 0 f ' conquerors , / ore brought ittto tU ^ K-uasiap ) arm ietC ... The forces once wwlded , byt tGI-jiifajti & .. » ndf Hxxi ^ Ofj » mbxe \ pftr |; ially incorporated-. 1 < wjtoh i the n ( fbrcesi 1 < . of ; the . Emperor , \ JNiipBDQ ^ iA ^^ . < : ivyho 1 iknei « r / what potent terroi ? th ; e ^ e , wUd , battaliQn 8 exercised iri j t , h , e ,,, Eftst . i { $ -., BwtopQj-, 1 pften .. . desolated by , ihe ,. whiU'Jiwind < i Qf iheir . horab ^ , AgftM , by seizing upon the neutraLgrovvud , and fidvaacingttheir / ppstsi aorosa ithe wilderries » Lthe

    Russians ihkv ©^ -. approacheuV ^ the'iHdntiers ^ of China , J . and by their navall atoid % nilitajry ! stai tion on thejAinbor falreadyl thieatei £ i . # ie bor ders ixf Kouea . r ^ Moreover , - & ototherCJharinel of Taafb & vy ? stO . eeb ' .. riiighfc' soon arrive' off the coasts of -Japan ^ aaid , nt fact , itheTAmerieaBts are now rr ^ alled by' tHe itussiaTss 1 : inr their pertinacious ^ effortsiVamong the- " islands c £ Eastern Asia / and' along- the shores ? of the Yellow Sea . * ;; - Uv ; :. ;' . ••> ' . " . -: ¦ ¦ ¦' ¦ ¦ ¦ : - - ^ -- ¦ 1

    Petropaulovskij ^ embedded : * M the ice of Kamschatka , was Ibng the only- Settlement of importance held ; by iheifi-ussians in proxV imity to the North Pacifici ! - o Thebes Arctie establishment ^ rarely visited by Europeans , could riot be . regarded asrofi political imports ance . To ¦ the -fisher and fur-trader > alone was / New Siberia or the jregionijof the Samoyede tribes interesting , unless the gebgraphical isolation : of-Sweden ^ fsecured by the sway of those territories ^ enhanced their value . But _ Petropaulovski itaelf - was not

    favourably . situated ^ -fiiri ^ ie . ultiimatejpBgects of Russian policyi ¦ It stood ; in relation ^ to her American-Father tharitd her Eastern progress '* Gorisequently / ' when ^ the .- insnrrectidn in China had throwii that ernpire offfits balance" , the iGzar NiCHOiiau 3 , adopting at Pekin the MehtsohekopJe 1 tactics , succeeded ^; -in oveir-: & wiri g the ' Emperor . The- mouth of the splendid river Amoor was :. condbded : to him . ¦ And now his-actibna provedOthat ^ Twith * whatever ¦ contempt we * May reviews the . ; plan of a Tnarch across : Central Asia , ther / bleak plains and ; iron ranges of Siberia offer ttoeans of transit , and avenues -of military and commercial inteircdurse ; : : Iiarge ;' stofces » iof «

    ammunitiori / and trains ! of ; artillery were ) brought across , this inhospitable area , floated upon tKe Amoor , embarked ; ; at ; fits ¦ ¦ ' : lembouehurex in vessels of wary and transported : rfeo the fortresses of Kussian Anrerica . ' Several . steamboats of r considerable capacity ^ ; : $ » lyi upon the stream ,, and a large arsenal is micourse of erection withha the ibar- ; It mayaappear that sach an impracticable ' harbour ; is nbt destined to assumei naval importance ;; bu ''

    • It ; ahdrild be rdmemberedj that'upon the western : - shores of "the - ¦ Paicifio r the - < climate admits of' navigation ;\ throughout' the year . Siberia contains iriiiriense ; cannon fofuridries and manufactories of warlike stores , supplied from the : mines : of t / hailral , ibntvbnlyjlately bperied by : this ' new butlet ^ i'teoaaidjiin the defencer of the Russianr colonies ^ n ^ Ainei-ica , and in the fulfilment of the Russian-aims in the Eastern ;! Ocean . } i A line o £ connexion is thus established between the point at which

    Russia touches ithe coasts pf Sweden : arid that at which she touches the coasts ' of China . 'Long ago , by 1 a 1 series -of adtaiLaes ^ Hofc uiiresistea by . the Tartar race ,, she pnsaed JJake Baikal ; arid at' Maimacheri set a ^ uard upon the ; Chinese Empire . The Chinese * : nsentry there , salutes the Russian . " . Negotiations are in suspense to extend this' encroaching frontier , . imthe" interior as well as along the sea , and the mbrement will become more' rapid as thb fortifications f 6 f the' Amoor ^ dn « r 6 aso in

    magnitude'and shelter a rising' naval influence . ) . />!• ¦ ' ¦ f . ¦ ' ¦ ¦ •;•; . ¦ '•• ¦ ¦ ¦ ¦ " ¦¦ ¦ ¦ Tho question < suggested- is , how far are these , cbncession ' s , byi Ohiha , and acquiaitions by Russia , to continue ? r The war , while it laats , offeifs a propert Opportunity for interrupting . on ? one of tlie-highways of . Asia this iriaidtoiiaiserieB ! oft advances ^ iAt Sitlca and on , ibh ^ Aleutiaiu lalea . the JEtussians poasess ti ) adingiand fiahirig oBtabliahmonts , which , it £ & reported ; the ; Allies iihavoMceadlved not to molest . wThere . is ^ venMan elaborate story in

• Citation
  • Leader (1850-1860), Sept. 22, 1855, page 12, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_22091855/page/12/