HOMES OR MOTOR CARS?
NECESSITY OE MORE THRIFT “Building societies exist primarily for tin* encouragement of thrift, by providing means by which a man may purchase a home or business premises and pay for the same by instalments over a fairly lengthy period,” said Mr E. 11. S. Hamilton, chairman of directors, at the annual meeting of the Christchurch United Building Society. ‘•Unfortunately, in my opinion, the instalment system has been extended to the acquisition of liabilities such as motor cars, instead ol assets such as freehold homes, and I am afraid that in these days many people who can ill afford it acquire motor cars on time-payment instead of making an endeavour to free their homos of the mortgage. “Others more competent to do so than myself have emphasised on many occasions the necessity lor more thrill in the community, but until those of us of limited means—which means most of us—determine to be less wasteful, the facilities offered by, building societies and the State for the niirehaso of homes on easy terms will not be made lull used.”
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Hokitika Guardian, 5 June 1929, Page 8
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180HOMES OR MOTOR CARS? Hokitika Guardian, 5 June 1929, Page 8
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