HIRE PURCHASE

Hokitika Guardian, 7 July 1930, Page 2

HIRE PURCHASE

SYSTEM TO BE INVESTIGATED. CHRISTCHURjCH, July 4. Expressing an opinion that the Dominion's unsatisfactory financial position was due largely to the extensive operations ■of the hire-purchase system, the Marion. Chamber of Commerce wrote to the council of the Canterbury Chamber last evening, urging that the Chattels Transfer Act should be amended to make it compulsory for all hire-purchase agreements to be registered. -It also urged that the seventh schedule of, the .Act should be purged of items of luxury. Mr F. E. Jones said that the ques-

tion was a very important one. The hire-purchase system once was restricted to pianos and sewing machines; later.it was extended' to farming implements and machinery ; now it- was being extended to other things of a different character.* Mr A. F. Wright said that it was largely owing to the hire-purchase system that the dairy industry had progressed so rapidly. Mr T. N. Gibb said that any investigation should he iu regard to limiting the system not stopping it. Mr F. W. Hobbs: What is the good of our kicking against a brick wall? This system has become almost universal. - ' Mr : J; • MfleGibhnn :R aid that many ■ traders had been driven into the sv«tem because others were following It. The practice had become so regular that it was to stop it. The question was referred to a remittee consisjtin '<r of. the. president (My * Norton Fran'ts'l; .. topreteiitnii ye. of the’Canterburv, Agc'cnltm-e -and Das,nnd Au.^Tnobfle j Assoriation 'aufl Meyers A. E. Wright, A C. Bret her ton and F. E. Jones. '