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cdm THE LEADER. pffo. 290, Sattopay, ¦ ^...
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THE LAW OF CREDIT. Perhaps the question ...
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HOW TO CREATE A MUTINY. Somebody has fou...
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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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Candidates For Italy. Diplomacy Is The S...
tablished by the head of the family . In Piedmont , on the other hand , eonstitutionaiism , frank , bold , progressive , is to Victob JSmma & ttbi , the breath of life . He dare not encourage ^ reaction if he wo uld . The * nation has known freedoni and loved it . In this and" in many other circumstances lie the sources of natural discord between a Neapolitan and a Piedmontese kingdom , between
a national and a foreign dynasty , between a reigning hereditary Italian house and the government of a pretender who might , at any hour , Tvitness the downfal of his family in ! France , and resort , as did his uncle , to the perilous friendship of Austria . Austria , at all events , if not France , would profit by the inevitable hostility arising between the two states .
"We may be reminded , no doubt , that Naples , under the nightmare administration of King Bomba , presents already such an antagonism to Piedmont . But the Italian patriots reply , at once , " Bomba . is our enemy , not our candidate . " They conspire against him . In all human probability he will be overthrown by them ; but why , if Italy be not utterly dead , incite foreigners to control her future ? Why perpetuate the old principle which has already been the prolific source of sorrow and bloodshed ? Why
consummate one revolution by creating the necessity for another ? Mtjeat , who is a French prince , of the kindred of Louis NAPOiiEOX , would , if mounted on the throne of Naples , be a mere prefect of the French Empire—and Italy , instead of gaining an independent sovereign in place of the cashiered Bourbons , would still be under the reproach and the peril of an alien rule . Further , a country in . the occupation of one foreign power , is always liable to be invaded by another . In the event of a war between G-reat Britain and France , it would be
English policy , supposing a French dynasty established at Naples , to destroy and supersede it . Thus Italy , punished for the ambition of her usurpers , would remain a theatre of contention , fettered , unhappy , hopeless . And here it is particularly to be noticed that in the Muratist pamphlets there is a studious display of hostility to England . France is promised , if she will favour Mueax ' s designs , a strong ally in that future conflict which will avenge Waterloo and humble the English nation . So far , indeed , is this infamous suggestion developed , that the man who affects to offer a solution of the Italian
difficulty hints at a collusion of Great Britain with Austria to sacrifice the cause of Italy . But , when the Bonapartist usurpation perishes in France , on whom would Muhat lean , if not on tho Austrian Empire , aa did his cowardly uncle , betraying by his act the independence of the Italian people F It would seem to a clear mind that to be
at once the member of the Bonapartist dynasty , and the ruler of an Italian etato , would be a false position , by no means honourable , and impossible to maintain . The Spaniards expelled Joseph ; the Dutch expelled Louis ; the Neapolitans expelled Mubat ; and what must Mubat's nephew be , if under pretence of political heroism , he hazarded for Italy the terrors of a civil war ?
We may understand the character of Mubat by studying that of his friends . Is Sai ^ ioeti , who recommends this " solution , '' a man of tho purest fame ? It is he who , once a triumvir of tlie Roman Republic , and a member of the Mazzini Committee in Xiondon , advocates the candidature of Muhat —Murat who , in the French Constituent Assembly , voted throe times for the piratical expedition to Rome , to bombard tho republican city , to quench its aspirations in blood , to force the inhabitants upon their knees
before an impotent and malignant priesthood , Can Salioeti reconcile it to his patriotism that he , once a triumvir , should servo an assassin of Rome ?
Cdm The Leader. Pffo. 290, Sattopay, ¦ ^...
cdm THE LEADER . pffo . 290 , Sattopay , ¦ ^^ ^^^^ . _ . ^__————^™^ T- ^—y i -m fv '' '"'''* M "" Tr'T ™"'" j * 'S' * T" *"'" MM T """ r" * M rr" *' TTi 5 * 7 """?"'* TT ^ TTTBS 3 hBft ^ ^^^ J £ fi ^ 3
The Law Of Credit. Perhaps The Question ...
THE LAW OF CREDIT . Perhaps the question of credit and its true responsibilities may be settled by considering how the liabilities are naturally divided ; and probably we shall find that the new law of limited liability is a step towards that division . Debts are of many kinds , some of them purely personal , others having very little relation to a particular person .
A man may desire to money simpiy as a convenience , as he would borrow a spade or a pistol ; and in such cases the loan is properly a debt of honour , a personal affair entirely ; the neglect of payment constitutiug a personal offence , like ingratitude , but not properly cognisable by law . On the other hand , the borrower may make representations inducing the lender to supply the money upon grounds that are fallacious ; a case of imprudence , if the borrower speak in good faith—of fraud , if he intentionally deceive . In case of personal debt , it would
appear , the offence lies , not in the inability to pay , but in the fraud . On the other hand , there are innumerable cases in which it is advantageous and desirable to obtain credit upon the strength of specific property . All sorts of " securities" represent such property ; and in respect to them the liability is necessarily limited to the amount they represent . It is a great advantage to commerce if specific amounts of capital can be placed at the disposal of third parties , without the owners of that capital becoming liable beyond the amount thus transferred . The law of
limited liability recognises this want m our commercial law , and satisfies it to a great extent . It does more—it indicates a thoroughly sound principle . All debt must be paid out of actual means . Whatever the moral question may be , the responsibility can only be met by means ; and you have no solid foundation for credit , in a mercantile sense , except the property itself , accrued or accruing . This would imply that the liability for debt , irrespectively of fraud , should lie upon property ; and here we come to the true principle of division . The person is answerable for fraudthe property for debt .
Apply these princip les distinctly , and we shall see that we gain a further advantage , if we can separate debts of honour , which arc purely in the nature of personal promises , and aa liable to be broken aa pie-crust , from debts of business , which ought always to be based upon actual things or transactions .
We shall do so iu proportion as wo extend tho principle of definition with respect to liability , and as , wo can make each thing or transaction convey its own basis along with its responsibility . Moat securities aro an example , conveying the right to tho property and the responsibility of the property in one instrument .
Wo should apply this division strictly if we were to recognise no personal responsibility for debt , except when fraud is distinctly made out ; and , at tho-same time , if wo were to require for every debt a distinct definition , not onl y of tho transaction in respect of which the liability was incurred , but of the means by which it was to be met . * This is exactly applying tho principle of the Limited Liability Act , securing tho debtor against indefinite liability , and tho creditor against indefiniteneBH in rospect of mean * . Were such the actual state ot tho law—putting debts of Throughout thla paper tho word personal In uued iu its ordinary nnd natural sense , and not in ita technioul ucmhc as a law term .
honour out of the consideration—no man would trust another who could not present him . with some kind of security for the means of ultimate payment . If we were dogmatising , we should ltesitate to ¦ set down these ideas for consideration ; but we know well that some of the keenest minds in the country employ tho intervals of thought devoted to the business of the day in considering this very question ; and tin "so memoranda may at least aid iu drawing forth further suggestions . One has already reached us , emanating from a miud as suggestive as it is noble iu its sympathies : —
" I have sometimes thought , " says our valued correspondent , " that the power of enforcing debts beyond a certain small amount might be confined to the Debtor ' s Banker , whose name should be publicly registered . The answer to a Debtor requiring credit would be , ' That is the division of labour ot your Banker . Pay me ready money by a cheque on him , which I will tender before I deliver tho goods . If he , whose business it is to know your affairs and your trustworthiness , will not accept your cheque , it would be wrong in you to ask such a favour at other hands ; and if lie will accept it , tho favour is not required , so that qudcunque via ilata , your proposal is inadmissible . ' "
The development of Joint-Stock Banks , — if tbey conduct their afiairs with prudenceand avoid the temptations of fast times in trade , —promises already that something will be clone to realise the suggestion , even before the expiry of that " ceutury" to which our far-sighted friend consigns the fulfilment oi hid own suggestion .
How To Create A Mutiny. Somebody Has Fou...
HOW TO CREATE A MUTINY . Somebody has found out the way to make the regimental drum as useful in rousing fro the battle of sect as drum ecclesiastic—the pulpit . Ireland , it seems , is too tranquil , and somebody has issued an order , enforced by Major Die Kollks ue ^ Molleynes , for rousing a little spirit in the Kerry militia . That body was stationed at Limerick . It has been the custom in the regiment ,
contrary to a general rule in Ireland , for tho baud to play during tho march to churchthe soldiers being Roman Catholics . It seems that it is the rule in Ireland to permit the playing of the band only when the soldiers proceed to the Protestant establishment ; a Protestant ascendancy still having sufficient influence in military quarters to compel that mark of disgrace and inferiority for Roman Catholic soldiers . Tho practice , however , has in some cases been waived , and
the Olobe mentions an instance : — " The commanding officer of a regiment in Ireland , in which all but a dozen were Itomnn Catholic soldiers , caused tMe regiment to be mar ched out of barracks on Sunday in a body , with the lmnd playing . The regiment made somewhat of a detour , dropped tho Catholics near their chapel , while the Protestants marched on to church . W * i do not
believe that the Christian spirit of tho nohliors on cither side would be injured by that considerate administration ; or that . Protestantism would bo lowered in tho eyes of tho Irish people by the conduct of the commanding officer . Certain we are that it has had no ofiect on tho loyalty of a regiment ; for it has , liko its Colonel , been distinguished for its gallantry in tho Crimea . "
It is not stated that there are any Protes-UmtH at nil in the Kerry militia ; Uio custom of bund-playing was well established ; and ithad been productive of no inconvenience . But there nro those who cannot tolerato tranquillity , who cannot bo content unless their own sectarian feelings are gratiiicil by compelling others to bo uneasy if they aro not converted ; and it ia for people of this kind that Ireland ia too tranquil .
By a new order , then , condemning a papistical band to silence , they succeeded , not only in rousing the men to mutiny , but in rousing . Limerick to a disorderly pympathy . Tho occasion is tho more suitable for thoao proceedings , since wo require ovory soldier Umt wo
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Citation
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Leader (1850-1860), Oct. 13, 1855, page 14, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_13101855/page/14/
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