The refusing to discharge a debtor upon the ground that he has been guilty of fraudulent con duct is also subject to state legislation. Certain acts are made presumptive evidence of fraud : as, the securing of debts' within a certain time before the application for the discharge. Such times are regulated by the statutes, and, commonly, the times limited are six months or one year. In some states, if a pre-existing debt has been paid or secured within a year prior to being de clared insolvent, the debtor having reasonable cause at the time to suppose himself insolvent, his discharge will not ho granted.
7. In England, besides the Bankrupt Act, 34 & 35 Hen. VIII. cap. 6, A.D. 1542, which has been mentioned, there have been many acts of parlia ment amending and revising previous legislation upon the subject. Among the most important of these are the act of 1570; the act of 1825 (8 Geo. IV. cap. 16), called the Samuel Romilly's Act, act of 1831 (1 & 2 Will. IV. cap. 56), called Lord Brougham's Act; the act of 1849 (12 & 13 Viet. cap. 106, 178). Although this system has been the growth of more than three centuries, and has been matured by the talents and experience of the wisest and most distinguished men in chancery, Lord Eldon, as late as 1801, upon succeeding to the great seal, expressed his indignation against the frauds committed under cover of the system. He said that its abuse was a disgrace to the country, and that it would be better at once to repeal all the statutes than to suffer them to be applied to such purposes. There was no mercy to the estate. Nothing was less thought of than the object of the commission. As they were frequently conducted in the country, they were little more than stock in trade for the commissioners, the assignees, and the solicitor. 6 Yes. Ch. 1. The act 34 Geo. III. eh. 69, was called an insolvent debtors' act; but the first act of insolvency properly so called was passed in 1826. And the act of 7 & 8 Viet. cap. 70, called "an act for facilitating arrangements between debtor and creditor," is properly an insol vency law. This provides for the discharge of non-trading debtor if he has a certain concur. rence from his creditors. This is one-third, both in value and number, to the initiatory steps. To the discharge, a proportional consent at an in ,tia tory meeting, and, finally, the consent of three eighths in both number and value, or nine-tenths in value of creditors to the sum of twenty pounds and upwards. In England there are now two lords jus
tices of insolvency and bankruptcy, five London commissioners, and district commissioners. Ire land follows the English system, SS does Scotland in most respects, with a change in nomenclature. But for the latter greater excellence is claimed. 1 Bell. Comm. 17.
S. The French bankruptcy code, says M. Dupin, is equally complained of by debtors and creditors. A bill is now before parliament in England (in troduced by Sir Richard Bethel, late attorney general, now Lord Chancellor Westbury) for a general bankrupt act applicable to non-traders as well as to traders. The 'bill has already (July, 1861) passed the house of hut much discussion has arisen in the house of lords with regard to the manner in which the assignee of the debtor's estate shall be chosen or elected. It has been the practice in England to have the assignee elected by the creditors • and it was so provided by Sir Richard Bethel's bill. It was proposed in the house of lords to have the assignee appointed by the magistrate. That the magistrate should con• trol the election of the assignee we consider a wise provision in an insolvent or bankrupt law. But the creditors are better satisfied to elect him among themselves; and this is the feeling, among the com mercial community in Great Britain. In Massa chusetts, the election of the assignee by the cre ditors is subject to the approval of the judge. Be low we give a synopsis of the insolvent laws of the various states of the United States which have legislated upon the subject.
9. Many of the states have laws for the distri bution of insolvent estates, and also laws for the relief of poor debtors. These are neither properly called insolvent laws in the sense in which we have used the words,—though the latter relieve the debt or's body from restraint upon a surrender of his goods and estate, and leave his future acquisitions still liable. See articles INSOLVENT ESTATES, EXE CUTORS AND ADMINISTRATORS, and POOR DEBTOR. When there are found statute provisions upon either of these subjects, they will be mentioned.