A Briefe of the bill exhibited against bankrupts

A Briefe of the Bill exhibited againſt Bankrupts.

THe Bill extendeth onely to make ſuch Bankrupts as ſeeke their liuing by buying and ſelling, as the former acts did, onely it maketh a Scriuener, receiuing other mens monyes into his truſt or cuſtody, lyable to the ſame, and an alien. It further deſcribeth a Bankrupt, and prouideth that the remedies appointed by the former acts of 13. Eliza. and 1. Iac. ſhall be extended to ſuch as are deſcribed by this act to be Bankrupt. It enlargeth the remedies in ſome caſes, not ſufficiently prouided for by the former lawes, and in ſpeciall caſes inflicteth corporall puniſhment.

It enlargeth the deſcription of a Bankerupt, and addeth to the former Lawes. 1. Such as ſhall obtaine or ſeeke protections againſt Creditors, vnleſſe onely in time of Parliament. 2. Such as ſhall prefer or exhibit into any his Maieſties Courts, any bill or bils, or to his Maieſty any petition, or petitions of conformity, to compell Creditors take leſſe, thē their iuſt debts, or to procure longer daies of paiment. Reaſons. 1. Experience ſheweth, that this is done onely to delay and hinder Creditors. 2. That they ſpend, and conſume their eſtates in the meane time. 3. The money ſpent in this courſe, and giuen to vndertakers, may helpe pay his iuſt debts. 4. This is by pretence of a courſe of Law, to hinder Law. 5. This is to compell charity, which ſhould be free. 3. Such as owing an hundred pound or more, ſhall not pay or compound for the ſame, within ſixe moneths after the ſame 〈◊〉 grow 〈◊〉 be demanded. 1. Many men auoyd the acts which make a Bankrupt, but make no conſcience by delayes to defraud men of their iuſt debts. 4. Such as being arreſted for debt, ſhall lye in priſon ſixe moneths, or being arreſted for two hundred pound iuſt debt, or more, ſhall get forth by putting in common or hyred bayle, in which caſe the party is to be a Bankrupt, from the time of the arreſt. 1. Not being a Bankrupt til ſix moneths, incourageth Bankrupts, in which time they prouide for their allies and friends at pleaſure. 2. They pay whom they liſt, they learne much ill and craft. 3. The common and hyred bayle, is a tricke meerely to defraud Creditors, and a great abuſe. 4. After ſuch bayle, they keepe their perſons priuat, and yet ſpend their eſtates. The Bil relieueth Creditors in ſome caſes, not ſufficiently, or expreſly prouided for by the former lawes. 1. That the Bankrupts wife, after he is proued a Bankrupt, ſhall and may be examined, onely for the diſcouery of his eſtate, conueyed or concealed by her, and being in her priuity. For want of this, the former lawes are of ſmall vſe for the Bankrupt, knowing the wiues are not to be examined; conuay their goods by their wiues helpe to perſons vnknowne to themſelues, or any others then their wiues. 2. That the Commiſſioners, or others by their warrant or appoyntment, may breake open the Bankrupts ſhop, houſe, or ware-houſe, to the intent to ſeaze his body, goods, and eſtate. This is doubted, whether ſufficiently prouided for by the former lawes, wherevpon ſome fearefull Commiſſioners, making ſcruple, the Bankrupt in the meane time conuaieth away himſelfe, and his goods at pleaſure. 3. That for the better diſtributing of the Bankrupts eſtate, the Commiſſioners may examine Creditors, vpon the certainty of their iuſt debts, and that they be relieued for no more then their meere debt, whatſoeuer ſecurity they haue, by iudgement, ſtatute, recogniſance, or bond forfeited, without reſpect to the penalties in ſuch ſecurities. This is not expreſly prouided for by the former lawes, but is within the intent and equity, and is ſo done de facto, by Cōmiſſioners: but the not expreſſing thereof, doth breed many times much queſtion, and ſometimes ſuits in law, ſome Creditors requiring reliefe for penalties and forfeitures. 4. That in caſe of any lands, goods, chattels, &c. of the Bankrupts, made ouer to any perſon, vpon condition of redemption at a day, not due at the time of his being a Bankrupt, the Commiſſioners may aſſigne power to any perſons to pay the meere debt; vpon tender or payment whereof, the Commiſſioners may deuide the ſurpluſage of the benefit of the ſaid lands, goods, &c. 1. It hath been conceiued, the Commiſſioners haue not power by the law, to aſſigne perſons to performe the condition, wherevpon the Creditors are forced to long and tedious ſuits, in Courts of equity. 2. It ſeemeth very reaſonable and equall to be ſo. 5. That in caſe of extents vpon any the Bankrupts lands, goods, and chattels, by any accomptant to his Maieſty, the Commiſſioners may examine ſuch accomptant vpon oath, whether the debt were originally due to himſelfe, or transferred to him in truſt for the vſe and benefit of the party, whoſe debt it was: and if it were, that the ſame be made ſubiect to the Commiſſion. It hath beene a vſuall courſe of late yeeres, to transferre debts to accomptants, and to extend for his Maieſty, the accomptants being onely vſed for other men, and yet the accomptants refuſe to anſwere vpon oath, to any ſuch interrogatory, becauſe it ſeemeth to be the Kings caſe. 6. That where lands, goods, or chattels, of any Bankrupt, be aſſigned ouer vpon good conſideration, yet the ſame remaining in the poſſeſſion, order and diſpoſition of the Bankrupt, after ſuch grant or gift made to receiue the rents, and take the profits: That ſuch lands, goods, and chattels be made ſubiect to the Commiſſion. This poſſeſſion of the Bankrupt, the grant being concealed, was the motiue of the Bankrupts great truſt and credit. This poſſeſſion of the Bankrupt, is a badge of fraud, and lyeth in the deck many yeeres thus concealed. The Bill inflicteth corporall puniſhment, by ſtanding on the Pillory in the County, &c. two houres, and loſing one care by courſe of indictment in caſes, 1. Where the Bankrupt doth fraudulently, and deceitfully conuey away his goods, or chattels, to the value of fiue pound, and ſhall not vpon his oath diſcouer, and (if it be in his power,) deliuer vnto the Commiſſioners all that eſtate, goods, and chattels ſo by him or his meanes kept from the Commiſſioners. 2. Where hee cannot make it appeare vnto the Commiſſioners, that he hath ſuſtayned ſome caſuall loſſe, after the buying, and taking vp of ſuch wares, monyes and commodities, whereby he is become vnable to pay his iuſt debts. 1. Bankrupts increaſe, and trade decreaſeth: the beſt remedy will be feare of corporall puniſhment. 2. This corporall puniſhment is onely in caſe of wilfull fraud and deceit, and where that fraud and deceit doth continue after monition and warning by the Commiſſioners. 3. The trade of Bankrupting, is the worme that eateth out the heart of all commerce and trade. 4. Without caſuall loſſe it is a wilfull wrong. The Bill appointeth the Bankrupt to be purſued, and taken as a Felon, and to ſuffer death as in caſe of felony, without corruption of blood, or forfeiture of lands, or goods in caſe, The Bankrupt ſhall flee away, and will not appeare before the Commiſſioners, vpon or before the fift proclamation to be made according to the forme of the aforeſaid ſtatutes, and after three ſummons firſt made in writing, vnder the Commiſſioners hands, and left at the houſe, or ſhop, of the Bankrupts laſt abode or dwelling. 1. This wilfull deceit is worſe then burglary, or robbing by the high-way, which may be preuented, this cannot. 2. The time limited is very ſufficient for ſuch to come in and auoyd this puniſhment. 3. This is more in terror to them, then likely to be proſecuted by the Creditors.