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Correspondence of Governor Sharpe. 83
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the very Debtor & therefore no assignment under the Statutes
relating to Bankrupts can be impugned by the Act, Because
the Major Part of the Bank's Creditors (in value) chuse the
Assignees & in consequence of this Choice or nomination the
Commrs make an assignment of the Bankrupts Estate (5 Geo 2).
To this Assignment the Bankrupt is no party, & as the Supple-
mentary Act provides only against Assignments made by the
Debtor himself, it seems to me very manifest that there is not
the least Colour of a Pretence for the Objection that the
present Act of Assembly is repugnant to any of the Statutes
relating to Bankrupts.
The Assignments guarded against by the Act are in their
nature fraudulent, the Credit of the Mercht in many Instances
depends upon the Value of his Effects here, for the Planter
considering those Effects as the property of his Correspondent
estimates his Substance from this Appearance; but if Assign-
ments made by the Merchts were to take place, the Creditor
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Letter Bk. I.
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here who might be induced to give him Credit from a Con-
sideration of the value of the Effects may & probably will be
deceived, for if the Creditors at home pursue their Interest
they would never obtain a Commn of Bankruptcy against a
Maryland Mercht till they had secured his Effects here by an
assignment — & as it is almost impracticable for a Creditor here
to come in under a Commn of Bankruptcy, should these
Assignments take place He would upon the matter be abso-
lutely remediless, which cant be thought reasonable by any
impartial Person since all the Profit which the Mercht acquires
by his Business arises from the Trust reposed in him by the
Planter. If the Act of Assembly had enacted that all Country
Debts should be paid before foreign Debts, the Partiality ot
such a Provision might have furnished matter of Complaint,
but it is to be observed that the Act rather establishes an
Equality among all Creditors, by preventing some of them
from obtaining a Satisfaction by means of Assignments at the
Expence of the Rest, for by making such assignments void, all
the Creditors are left equally at large & have equal Remedies
for the Recovery of their Dues. — The Merchts have all the
Security for the payments of the Debts due to them here which
they can reasonably desire, for by the 5 Geo 2 Cap 7 entituled
an Act for the more easy Recovery of Debts in his Majestys
Plantations & Colonies in America all Lands in the Plantations
are subject in the same manner as personal Estate to the pay-
ment of Book Debts due to Merchts altho the Lands of Merchts
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p. 62
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in England are not in the same manner liable to the Satisfac-
tion of such Debts due to their Creditors here, from these
Considerations I hope it must be allowed that this Supple-
mentary Act is not contradictory to any English Statute or can
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p. 63
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