HIRE AND PURCHASE SYSTEM.

Press, Volume LXI, Issue 18404, 10 June 1925, Page 9

HIRE AND PURCHASE SYSTEM.

TO TM» SDITOn 0* *HB *BB*>** Sir,—On June Srd, IMS, jo* V&*listed an article under the. aeadiaf of "Hire and Purchase System.** A* a small trader, the whole poerfbiUty •* the fabric built up there by yen, Wf rounded by legal protection, sambvl* me a eloak for the protection of ft»t* lag bankrupts; and a menaea »»• pathway of honest - trader* W r should not all these documentsJ» wfr isteredt If tbo lawyer* and the financiers are able" to reduce their s»W|as«% and the joint stock eempanfos -earn -«r iater or have to register to ensare jwetection from bill* of sale and Hs*B#ttsj|j surely it should be inenmbeat man who lends and the man *ss/_SS" rows-to place the transaction on moi-s, ! where the public havo an opportunity of, ascertaining; for ttemialm tfto validity of v the man wita wheat ta*jy purpose doing* business. The first thing that the unwapeetias pers6n who ia transacting' busiawa on this system should do ia t* ateertain that the whole lot is eorerei, and that, the man is not really a nam of straw, and has nothing. Again, a man may bring a horse into any **>7*ff and sell it, and the agent in goad fatta may pay out for it, and a month, at awe weeks after along eomea the bolder •* a hire and purchase' agreement, and claims the proceeds. Surety the law was never intended for sueb protection, and I think that all reasonable trad-era* except those who transact business that will not bear the light of day, nasi agree that all documents and all contracts should be registered, and. should be available for all traders, especially the retail and mercantile' fraternity.— Yours, etc, A SMALL TB4PEB. June 9th, 1925.