Charles Tupper

“ There can be no doubt, however, that the system of credit then obtaining in Canada was largely responsible for the abuses referred to, the laxity and want of attention of creditors encouraging indirectly over-trading by irresponsible and unfit persons to the injury and disadvantage of legitimate trade and honest traders. ”

“ Applying moreover to one class of the community rather than to debtors generally, it incurred the opposition of the other classes who condemned it for the abuses to which they saw in practice it was open. The merchant and the banking classes, however, were to the last opposed to the total repeal of the law, but as it was evident that there was little hope for the passage by Parliament of amendments calculated to remedy the defects of the law, the Act was allowed to go by the board, in the expectation of the introduction of new legislation at an early date. ”