Abstract
will always be found in every State a large mass of politicians, who will deem it more safe to consult their own temporary interests and popularity, by a narrow system of preferences, than to enlarge the boundaries, so as to give to distant creditors a fair share of the fortune of a ruined debtor. International trade has learned through cosdy experience the truth of this statement of Story.1 Differentiation in the treatment of the resident and the distant creditor is an old ill. There are few countries in which there have not been tendencies at some time to favor the local creditor. Differentiation is still practiced in various countries. The fear of its consequences, as well as the security measures adopted in protection, hamper international trade. The local creditor obtains preference in different ways. They are not always easy to recognize and not generally known. Insufficient documentation has been a major handicap in dealing with the subject of discrimination. A presentation of some types of existing inequalities in the treatment of the foreign and the domestic creditor may be helpful in efforts to overcome differentiation.
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