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who freely enter into these contracts. That no such law has been passed.
Land away from England
no sufficient reason has been shown why such an optional measure should be introduced here, that seven if the law was passed it would be evaded as the English Act has been set at nought here.
From what I have seen in England, it affords scope and opportunity for practices which it would perhaps be useless to attempt on a larger field.
At the same time I admit that the objection that it is a restriction on the freedom of contract is one which deserves consideration. It is a serious objection.
I am told by the Official Assignee that there is a great amount of selling and very great buying of shares which is not bona fide or legitimate speculation but rash and extravagant gambling, and I should be glad to see a stop put to this.
The argument that because the law does not exist in England it should not be enacted here, cannot I submit be seriously maintained as the circumstances and extent of the local market differ so greatly from that of England.
In my opinion the arguments are against this Bill.
Signed, E. I. Ackroyd, Attorney General,
25th August, 1890.