The Manawatu Standard (PUBLISHED DAILY.) Suivant la verite. FRIDAY, NOVEMBER 16, 1883. THE CREDIT SYSTEM.

Manawatu Standard, Volume 4, Issue 295, 16 November 1883, Page 2

Manawatu Standard (PUBLISHED DAILY.) Suivant la verite. FRIDAY, NOVEMBER 16, 1883. THE CREDIT SYSTEM.

The Right Hon. W. E . Baxter, m .his, address at the fifteenth S-nual-Ccmgress* of delegates from~ co-operative societies' Tin'-G-rPat "Britain and Ireland, held m Edinburgh, spoke pfthe deliverance by I co-operatiop. Jof so, Ijnan^ < frjbm " the fancy profits of credit! system." He said further that "{luring the ten years 1872 to 188-2, -the societies m this enlightened part of the wprld — (laughter) —had done a business amounting to £24,503,660, and made* ?a. v profit of £2,107,401 which with reference'to the shave capital employed, gkve a dividend of 65 per cent, per anhum, or more . th|4 dottble that which ; shad :been realised by their friends on the other side of the Tweed. _)'ebVwas the baue of the nation — (hear : ,;heav)r-^fche curse of the landowners, ao held down by mortgages as ''o_ly''ih name, as well as of 1 artisans whp.bad books with all the petty tradesmen around. They could noV.of course."'' get rid 'of '"credit altogetheii; ; it had< : itß. ad vantages m mercantile affairs ; but m the ordinary transactions of domestic life It ought to have no place, and it Tvyoujd -surely go out when co-operation capae.ip. '. ; (Ap-? rplauSe.}."/:":-' il- iiiJ- ; .i-:'';.ra A-' '">■ '■■ '-'