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Feilding Star, Volume XIII, Issue 52, 29 October 1891, Page 2

At a meeting, of the Dunedin Chamber of Commerce lately, a letter was read from the Official Assignee in which he suggested a remedy for defective bookkeeping by. tradespeople. It was as follows : — Let a circular be prepared under the authority of the Chamber and 'printed, so that copies could be sent by traders in wholesale businesses to their customers, pointing out the necessity for a full statement of assets and liabilities on 31st March or 31st December of each year, and requiring in cases of men who show their weakness by asking renewals, that a copy of such balance-sheet should be supplied, If desired, I could prepare a simple and gomprehensiveform which would meet the case, and this could be also printed with the circular. I can understand a single firm being unwilling to oflend their customers by such a proceeding, but if the Chamber took action and endorsed the proposal, and the chief firms came to a common understanding on the point, this difficulty would disappear, and once the system became general they would be protected against anything but gross and deliberate fraud, and have the means in their hands of punishing even that on the ground of fraudulent misrepresentation. In some cases I would go as far as to demand a statutory declaration before a J.P. of the correctness of the statement. There is really no need for so large a share of the small profits now made in. trade, being swept away by bad debts." In replying to tins very excellent recommendation the Chamber uf Qqbiraerce said the matter was considered, but the Goimirittee did not see their Wcay to take any steps regarding it at present, and expressed the hope that the Bankruptcy Bill would pass next session and give more power to repress the evil. Although the Dunedin Chamber of Commerce were apparently afraid to commit themselves in any way, yet we have some hopes that the publicity given to the suggestion of so able an exponent as the Official Assignee will do good in itself.