545
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.
545
who ircely ente into these contracts. hat no such law has been passed.
land awa
ut England
no sufficient reaven
has been shown why such an 24. aphonal i readure should be
introduced here, that seven if the law
was passed it would be evaded as
the English Act has been set at n
Here.
"rom what I have
1
England,
land, and afford scope and opportunity for practices which it would perhaps be useless to attempt an
A
larger field.
•
At the same mire d
admit that the objection that it is a
restrichon on
the freedom of contract
is one which deserves conviderations. It
serious objection
na
noright
i in
and
learnt av
Official issignee
state that there is a
amount of selling
and
very great buying shares
which is not bona fide or
legitimate
speculation but rash and extravagant
(umbling, and I should be glad to
46
a stop put to this. The argument
Har because the law does not exist in
England it should not be enacted here, cannot I suburit be seriously
maintained as the circumstanco
extent of the local market
arid
differ so
greatly from that of –. England.
my opinion the against this Bill.
boughing,
only ser
Sof E. I. Ackroyd'.
25th August, 1890.
Act. Attorney General,
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