THE CREDIT SYSTEM.
A PARALYSING EFFECT. A PREVALENT SENTIMENT. The Opotiki Herald, in a recent Hsue, says : “We feel inclined to burn our old ledger—get quit of it and the tale it tells. This is a sentiment which, we believe, most tradespeople will endorse, for the- results of the indiscriminate credit system in vogue must be paralysing to many concerns not over-blest with capital or an accommodating banker. Speaking on this subject, a local storekeeper said his experience was that some of his customers paid something off their account now and then, always leaving a balance, which increased every month, until at the end of the year the accounts were quite formidable. “And the curious part,” he added, “i” that the wageearners, who are paid regularly, are the worst offenders.” A tradesman in these days, it seems to us, if he desires to have any peace of mind, must be a philanthrophist, a sentimentalist and optimist (highly developed), and he must possess the constitution and the hide: of a rhinoceros. With such attribute/ he may manage to exist provided he does not butter his bread too thickly and takes salt with his porridge?’
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Hauraki Plains Gazette, Volume XXXVIII, Issue 5159, 1 August 1927, Page 2
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193THE CREDIT SYSTEM. Hauraki Plains Gazette, Volume XXXVIII, Issue 5159, 1 August 1927, Page 2
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