Page:The Present State and Prospects of the Port Phillip District of New South Wales.djvu/112

. One of these was carried through the house, but the governor refused his assent to it, and it will not become law unless allowed by the queen, which it is to be hoped it will not be. Nor has the council shown that caution in overruling the principles of the English common law which would have been becoming, and which might have saved them from passing an act which will, I fear, turn out a very inconvenient piece of legislation. I allude to what is termed the preferable lien bill.

But the only occurrence, in my opinion, really discreditable to the council was the introduction of a bill to regulate the interest of money, one of the provisions of which was to prevent above a certain rate of interest being paid or taken on foot of mortgages, made even prior to the passing of the act, and notwithstanding that a higher rate of interest might have been agreed on. It was, in fact, an act to legalize the evasion of engagements deliberately entered into, and was one of which no honourable man could have taken advantage. It was not indeed carried, but the fact of its having received