HIRE-PURCHASE
SYSTEM CONDEMNED
(By Telegraph.)
(Special to "The Evening Post.")
PALMERSTON N., This Day.
"Anybody who has followed carefully the trend of business in articles, especially luxuries, sold upon the hire-purchase system, must realise that an extension of the system is bad both for the seller and the buyer," remarks Mr. M. H. Oram, president, in his annual report to the Palmerstonl North Cha,mber of Commerce.
"In the case of the former, it causes large fictitious profits to be shown not able to be realised in the case of bad times and, so far as the latter is concerned, induces people not only to live beyond their income, but in many cases to purchase articles that they really do not require and would be much better without. The Palmerston North Chamber was convinced upon the view of the whole position that a restriction, if not.total abolition, of the system was imperative rather thau a gradual extension of the field of operations as appears to be the tendency under the existing legislation."
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Bibliographic details
Evening Post, Volume CX, Issue 71, 20 September 1930, Page 10
Word Count
171HIRE-PURCHASE Evening Post, Volume CX, Issue 71, 20 September 1930, Page 10
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