property of
an undischarged bankrupt, and dealings with such property, and with respect
to married women and their liabilities under bankruptcy law. The committee
also reported on the law and practice relating to voluntary deeds of
arrangement between a debtor and his creditors and on the compulsory
regulation of assignments of book debts, and of agreements for the hire and
purchase of chattels.

[Sidenote: Results of legislation.]

In addition to this report the annual reports of the Board of Trade, which
are accompanied by elaborate tables of statistics, and by copious
illustrations both of the working of the system and of the characteristic
features and causes of current insolvency, are published as parliamentary
papers, and may be usefully consulted by those interested in the subject.
It appears from these reports that the total number of insolvencies dealt
with under the bankruptcy acts during the ten years ending 31st December
1905, was 43,141, involving estimated liabilities amounting to L61,685,678,
and estimated assets amounting to L26,001,417. It may also be pointed out
that according to the official figures, the cost of bankruptcy
administration under the present system has very considerably decreased as
compared with that under the act of 1869. Estates are also closed at much
shorter intervals, and, what is more important from a public point of view,
it appears [v.03 p.0325] that while the estimated liabilities of bankrupt
estates during the ten years ending 1883 amounted on an average to
L22,380,000 per annum, the estimated liabilities during the ten years
ending 1905 only averaged L6,168,567 per annum. But during the latter
period there was an annual average of 3426 private arrangements involving a
further estimated annual liability of L4,166,354 entered into outside of
the Bankruptcy Acts by insolvent debtors. There are no means of
ascertaining the corresponding amount of liabilities on private
arrangements outside of the Bankruptcy Acts prior to 1883, and therefore a
complete comparison is impossible; but it is evident that on any method of
computation there has been a very great diminution in the trading
insolvency of England and Wales, while it is also clear as a matter of
general knowledge in commercial circles, that a great decrease in the
proportion of fraudulent trade and reckless speculation has been a marked
feature of private trading during the period in question.

The cost of bankruptcy admi