[August 10. 1867. N. 375.]

The Money Market Review, 10. August 1867. S. 139/140.
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Edward Greenland’s Pardon. H.o.C. Continued. (Money Market Review 10 Aug., 1867)

It is an undeniable fact, that there has of late years been a great deal of very lax morality prevalent amongst the managers and directors of joint stock Banks and other Cos., much of it very closely bordering upon crime, and much of it actually overstepping the line which divides mere immorality from positive criminality … The successful operators in these transactions become objects of envy and examples for imitation to numerous other coveters of wealth and aspirants for fame, and the ranks of our mercantile classes have become thickly studded with men who have gone through these desperate ventures with more or less success, or who are ready to plunge into them when opportunities offer. Hence we have the downright frauds and scandalous robberies which are now almost daily exposed in the winding up courts. … It must be admitted that the law has almost lost all its influence as a deterrent, and for the plain reason that it is almost useless for the prevention or detection of these joint-stock and commercial frauds. In many cases where the fraud is undeniable a prosecution, it is said, „would not hold“; in other cases, where a prosecution might be sustained, there being no public prosecutor, no one else is willing to undertake the invidious task; and, even where a prosecution has been instituted and succeeded, ends of justice may subsequently be defeated by the capricious intervention |269 of an incompetent Secretary of State, as in the present case.

Lord Frederick Cavendish, one of the M.P. für North-West Riding of Yorkshire, sprach über Greenland case in H.o.C. „Greenland had been prosecuted for perjury in reference to the banknotes issues“ and „when the Board of Inland Revenue were applied to“ durch Leeds Chamber of Commerce, „and urged to prosecute, they declined, but stated that they would afford assistance to any persons who chose to undertake the prosecution“, viz. at their own expense. „The judge at the trial had expressed its his surprise that the prosecution of such a case had fallen upon private persons.“ Lord F. Cavendish continued: „When Greenland was taken to prison, he was placed in the hospital, where he remained for 3 months, but, in consequence of the report to the visiting justices, he was removed to one of the cells. The visiting justices were therefore greatly astonished when they afterwards received intelligence that Greenland had obtained a free pardon.“ That pardon was obtained by Greenland’s solicitor, upon the strength of a memorial which he addressed to the Home Secretary and came up to London to present in person. Lord Cavendish said: „Doubts would arise whether, in the administration of justice, distinctions were not made between different classes. It was difficult to believe that a poor man who had no solicitor would have received a remission of the greater part of his sentence because he was in a state of health which, in the opinion of the (prison) surgeon, would not justify his removal to the hospital of the prison.[“] Hardy said im trial „the Jury had recommended Greenland to mercy on account of his age etc.“ Mr. Hardy, „with the report of the trial at the Central Criminal Court before him“, knew perfectly well that the recommendation of the jury was to the mercy of the judge, and that the judge had given effect to it by giving the dog only 15 months imprisonment instead of 15 years penal servitude. W. Morrison drew the attention of the House „to the fact that the perjury of which this old man had been convicted had extended for a period of nearly 20 years“. »If Greenland had had not an able solicitor and wealthy and influential friends, he would have been permitted to serve out the remainder of his short sentence.« Other criminals, who have committed only one single act of perjury, are sentenced to penal servitude, and unless they happen to have made money enough by their frauds to retain a clever attorney, are compelled to undergo their allotted sentence. … The plea of humanity and mercy becomes mere cant in solchem Fall. It is an hypocritical abuse to apply them to the wealthier of the criminal classes alone, whilst in effect denying them to the poorer. During the past week (ending August 3, 1867) an inquest was held on the body of a pauper in one of our metropolitan workhouses who, at the age of 80, had been compelled to turn out and work at drawing a dust-cart, in a drenching rain. The poor wretch was seized with cold shivers and died, and before he died he was wicked and ungrateful enough to declare that „that cart and that rain had killed him“, and that the brutal officer who had compelled him to the task was guilty of his death. That man’s only crimes were poverty and old age – great crimes no doubt in a human and Christian county – but still the old man could not very well help either. If that old man had lived a riotous and extravagant life, committing frauds et perjuries during a period of 20 years, to the utter ruin or impoverishment of a 1000 innocent victims, and had thus made himself a well-to-do criminal instead of a beggarly pauper, humanity would have taken much more interest in him and „much better care of him[“].


The Money Market Review, 10. August 1867. S. 141/142.
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Limited Liability Act of 1867. (for amendment of Act of 1862)

Enthält no clause whatever to afford additional protection against fraud or misrepresentation on the part of the promoters of new Cos.


  • London. 1868.
  • 1866 „The Economist“ (Jahrgang 1866) vol. XXIV.
  • The Social Economist, 1. Oktober 1868
  • „The Economist“ (Jahrgang 1866) (Fortsetzung)
  • Jahrgang 1867.
  • Register der obigen Auszüge aus dem Economist für 1866 und 1867.
  • The „Money Market Review“. Jahrgang 1866.
  • The Money Market Review. Jahrgang 1867.
  • Register Money Market Review Jahrgänge 1866 und 1867